Hamlin Capital Management LLC Has $160.46 Million Stake in Snap-On Incorporated $SNA

Hamlin Capital Management LLC increased its holdings in shares of Snap-On Incorporated (NYSE:SNA) by 2.6% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 515,661 shares of the company’s stock after acquiring an additional 13,016 shares during the period. Snap-On accounts for approximately 3.7% of Hamlin Capital Management LLC’s portfolio, making the stock its 16th biggest position. Hamlin Capital Management LLC’s holdings in Snap-On were worth $160,463,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SNA. GAMMA Investing LLC raised its position in Snap-On by 93.5% during the first quarter. GAMMA Investing LLC now owns 2,086 shares of the company’s stock worth $703,000 after acquiring an additional 1,008 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in Snap-On by 6.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 47,322 shares of the company’s stock worth $15,949,000 after acquiring an additional 2,790 shares in the last quarter. Ritholtz Wealth Management raised its position in Snap-On by 8.3% during the first quarter. Ritholtz Wealth Management now owns 1,108 shares of the company’s stock worth $373,000 after acquiring an additional 85 shares in the last quarter. Exchange Traded Concepts LLC raised its position in Snap-On by 9.6% during the first quarter. Exchange Traded Concepts LLC now owns 946 shares of the company’s stock worth $319,000 after acquiring an additional 83 shares in the last quarter. Finally, Sowell Financial Services LLC bought a new stake in Snap-On during the first quarter worth $430,000. 84.88% of the stock is owned by institutional investors.

Snap-On Price Performance

Shares of SNA opened at $339.61 on Friday. The firm has a market capitalization of $17.72 billion, a PE ratio of 17.81, a PEG ratio of 2.39 and a beta of 0.78. The company’s 50-day moving average is $332.77 and its 200-day moving average is $323.84. Snap-On Incorporated has a fifty-two week low of $289.81 and a fifty-two week high of $373.89. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.40 and a quick ratio of 3.42.

Snap-On (NYSE:SNA) last issued its quarterly earnings data on Thursday, October 16th. The company reported $4.71 earnings per share for the quarter, beating the consensus estimate of $4.59 by $0.12. Snap-On had a net margin of 21.08% and a return on equity of 17.71%. The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same period in the prior year, the firm earned $4.70 earnings per share. The company’s revenue was up 3.8% on a year-over-year basis. Equities analysts forecast that Snap-On Incorporated will post 19.79 EPS for the current year.

Snap-On Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were paid a $2.14 dividend. The ex-dividend date was Tuesday, August 19th. This represents a $8.56 annualized dividend and a dividend yield of 2.5%. Snap-On’s dividend payout ratio is 44.89%.

Insider Activity

In related news, CFO Aldo John Pagliari sold 4,731 shares of the company’s stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $327.38, for a total value of $1,548,834.78. Following the transaction, the chief financial officer directly owned 111,667 shares in the company, valued at approximately $36,557,542.46. This represents a 4.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Nicholas T. Pinchuk sold 23,042 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief executive officer owned 815,219 shares in the company, valued at $261,587,472.72. This trade represents a 2.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 27,898 shares of company stock worth $8,983,203 over the last 90 days. 3.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on SNA. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Snap-On in a research report on Wednesday, October 8th. Tigress Financial upped their price target on shares of Snap-On from $390.00 to $395.00 and gave the stock a “buy” rating in a research report on Friday, August 29th. Robert W. Baird upped their price target on shares of Snap-On from $355.00 to $365.00 and gave the stock a “neutral” rating in a research report on Friday. Barrington Research reissued an “outperform” rating and issued a $350.00 price objective on shares of Snap-On in a research report on Wednesday. Finally, Bank of America increased their price objective on shares of Snap-On from $265.00 to $285.00 and gave the company an “underperform” rating in a research report on Friday, July 18th. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Snap-On has a consensus rating of “Moderate Buy” and an average price target of $363.57.

About Snap-On

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.