Jackson Creek Investment Advisors LLC Invests $1.34 Million in Snap-On Incorporated $SNA

Key Points

• Jackson Creek Investment Advisors opened a new position in Snap-On during the fourth quarter, buying 3,890 shares worth about $1.34 million.
• Snap-On reported mixed quarterly results, with earnings of $4.69 per share coming in below estimates, while revenue of $1.21 billion slightly beat expectations and rose 5.8% year over year.
• The company also announced a $500 million share buyback and a quarterly dividend of $2.44 per share, while analysts currently view the stock as a Moderate Buy with a $381.20 price target.

Jackson Creek Investment Advisors LLC bought a new position in Snap-On Incorporated (NYSE:SNA - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 3,890 shares of the company's stock, valued at approximately $1,340,000.

Other institutional investors and hedge funds have also modified their holdings of the company. DNB Asset Management AS boosted its holdings in shares of Snap-On by 65.5% in the 3rd quarter. DNB Asset Management AS now owns 23,702 shares of the company's stock worth $8,213,000 after acquiring an additional 9,377 shares in the last quarter. First Horizon Corp acquired a new position in shares of Snap-On in the 4th quarter worth approximately $4,068,000. Pensionfund Sabic acquired a new position in shares of Snap-On in the 4th quarter worth approximately $1,206,000. Bahl & Gaynor Inc. boosted its holdings in shares of Snap-On by 1.3% in the 3rd quarter. Bahl & Gaynor Inc. now owns 381,283 shares of the company's stock worth $132,126,000 after acquiring an additional 4,932 shares in the last quarter. Finally, Nordea Investment Management AB boosted its holdings in shares of Snap-On by 4.1% in the 4th quarter. Nordea Investment Management AB now owns 1,310,198 shares of the company's stock worth $454,206,000 after acquiring an additional 51,486 shares in the last quarter. 84.88% of the stock is owned by institutional investors and hedge funds.

Snap-On Stock Performance

SNA stock opened at $372.39 on Thursday. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.53 and a quick ratio of 2.74. The company has a 50 day moving average price of $370.95 and a 200 day moving average price of $363.73. Snap-On Incorporated has a fifty-two week low of $301.82 and a fifty-two week high of $400.88. The stock has a market capitalization of $19.29 billion, a PE ratio of 19.23, a price-to-earnings-growth ratio of 2.62 and a beta of 0.75.

Snap-On (NYSE:SNA - Get Free Report) last posted its quarterly earnings data on Thursday, April 23rd. The company reported $4.69 earnings per share for the quarter, missing the consensus estimate of $4.75 by ($0.06). The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.19 billion. Snap-On had a return on equity of 17.13% and a net margin of 21.28%.The business's revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter last year, the firm earned $4.51 EPS. Analysts forecast that Snap-On Incorporated will post 19.7 EPS for the current year.

Snap-On announced that its board has approved a share buyback plan on Thursday, April 30th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to buy up to 2.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's leadership believes its shares are undervalued.

Snap-On Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th will be given a dividend of $2.44 per share. The ex-dividend date is Wednesday, May 20th. This represents a $9.76 annualized dividend and a dividend yield of 2.6%. Snap-On's payout ratio is presently 50.39%.

Insider Buying and Selling at Snap-On

In other Snap-On news, CFO Aldo John Pagliari sold 5,713 shares of the company's stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $367.19, for a total transaction of $2,097,756.47. Following the completion of the sale, the chief financial officer owned 119,488 shares in the company, valued at approximately $43,874,798.72. The trade was a 4.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Nicholas T. Pinchuk sold 23,396 shares of the company's stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $375.77, for a total transaction of $8,791,514.92. Following the sale, the chief executive officer owned 856,918 shares of the company's stock, valued at $322,004,076.86. The trade was a 2.66% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 3.80% of the company's stock.

Wall Street Analysts Forecast Growth

SNA has been the topic of several recent analyst reports. Weiss Ratings reissued a "buy (b)" rating on shares of Snap-On in a report on Monday, April 20th. Roth Mkm restated a "buy" rating and issued a $431.00 price objective on shares of Snap-On in a research report on Friday, April 24th. Tigress Financial boosted their price objective on shares of Snap-On from $405.00 to $445.00 and gave the stock a "buy" rating in a research report on Friday, February 27th. Robert W. Baird boosted their price objective on shares of Snap-On from $380.00 to $395.00 and gave the stock a "neutral" rating in a research report on Friday, April 24th. Finally, Wall Street Zen cut shares of Snap-On from a "buy" rating to a "hold" rating in a research report on Saturday, February 7th. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Snap-On presently has a consensus rating of "Moderate Buy" and a consensus price target of $381.20.

Snap-On Company Profile

Snap‑On Incorporated NYSE: SNA is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company's product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap‑On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.

Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap‑On has established a long history in the professional tools market.

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