MBB Public Markets I LLC Takes Position in Snap-On Incorporated $SNA

Key Points

• MBB Public Markets I LLC acquired 927 shares of Snap-On Incorporated, valued at approximately $312,000, marking its first stake in the company.
• Insider transactions include CFO Aldo John Pagliari selling 125 shares and CEO Nicholas T. Pinchuk selling 23,042 shares of Snap-On stock, reflecting decreases in their respective ownership stakes.
• Snap-On recently declared a quarterly dividend of $2.14 per share, contributing to an annualized dividend of $8.56 and a yield of 2.6% as of the ex-dividend date in August.

MBB Public Markets I LLC acquired a new stake in shares of Snap-On Incorporated (NYSE:SNA - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 927 shares of the company's stock, valued at approximately $312,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of SNA. Auto Owners Insurance Co raised its stake in shares of Snap-On by 35,967.2% during the first quarter. Auto Owners Insurance Co now owns 1,073,000 shares of the company's stock valued at $361,612,000 after acquiring an additional 1,070,025 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Snap-On by 65,113.6% during the first quarter. GAMMA Investing LLC now owns 703,003 shares of the company's stock valued at $236,919,000 after acquiring an additional 701,925 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of Snap-On by 54.3% during the first quarter. Ameriprise Financial Inc. now owns 681,857 shares of the company's stock valued at $229,793,000 after acquiring an additional 239,908 shares during the last quarter. Nuveen LLC bought a new position in shares of Snap-On during the first quarter valued at about $45,711,000. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Snap-On by 6.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,921,584 shares of the company's stock valued at $647,593,000 after acquiring an additional 115,306 shares during the last quarter. 84.88% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CFO Aldo John Pagliari sold 125 shares of the stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $325.21, for a total transaction of $40,651.25. Following the sale, the chief financial officer owned 111,721 shares in the company, valued at $36,332,786.41. This represents a 0.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Nicholas T. Pinchuk sold 23,042 shares of the stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $320.88, for a total transaction of $7,393,716.96. Following the sale, the chief executive officer owned 815,219 shares in the company, valued at approximately $261,587,472.72. The trade was a 2.75% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 27,898 shares of company stock worth $8,983,203. Corporate insiders own 3.90% of the company's stock.

Snap-On Price Performance

Shares of SNA opened at $324.21 on Thursday. The stock has a market cap of $16.91 billion, a PE ratio of 17.29, a price-to-earnings-growth ratio of 2.24 and a beta of 0.77. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.42 and a current ratio of 4.48. Snap-On Incorporated has a fifty-two week low of $269.58 and a fifty-two week high of $373.89. The firm's 50-day simple moving average is $324.47 and its two-hundred day simple moving average is $323.04.

Snap-On (NYSE:SNA - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The company reported $4.72 earnings per share for the quarter, topping analysts' consensus estimates of $4.61 by $0.11. Snap-On had a net margin of 20.98% and a return on equity of 18.02%. The business had revenue of $1.18 billion for the quarter, compared to analysts' expectations of $1.16 billion. During the same quarter in the prior year, the company earned $5.07 earnings per share. The business's revenue was up .0% compared to the same quarter last year. Analysts anticipate that Snap-On Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-On Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were issued a dividend of $2.14 per share. The ex-dividend date was Tuesday, August 19th. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.6%. Snap-On's dividend payout ratio is presently 45.65%.

Analyst Ratings Changes

A number of research firms recently issued reports on SNA. Robert W. Baird increased their price target on shares of Snap-On from $329.00 to $347.00 and gave the stock a "neutral" rating in a research note on Friday, July 18th. Barrington Research reissued an "outperform" rating and issued a $350.00 price target on shares of Snap-On in a research note on Tuesday, July 15th. Tigress Financial increased their price target on shares of Snap-On from $390.00 to $395.00 and gave the stock a "buy" rating in a research note on Friday, August 29th. Wall Street Zen raised shares of Snap-On from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Finally, Bank of America increased their price target on shares of Snap-On from $265.00 to $285.00 and gave the stock an "underperform" rating in a research note on Friday, July 18th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $357.00.

Snap-On Company Profile

Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. It operates through Commercial & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.

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