Manning & Napier Advisors LLC Makes New Investment in Snap-On Incorporated $SNA

Manning & Napier Advisors LLC acquired a new position in shares of Snap-On Incorporated (NYSE:SNA) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 8,301 shares of the company’s stock, valued at approximately $3,340,000.

Several other institutional investors have also recently made changes to their positions in SNA. DV Equities LLC acquired a new position in shares of Snap-On in the 4th quarter valued at $25,000. Western Wealth Management LLC acquired a new stake in Snap-On during the first quarter valued at $29,000. Montag A & Associates Inc. grew its position in Snap-On by 331.8% during the fourth quarter. Montag A & Associates Inc. now owns 95 shares of the company’s stock valued at $33,000 after buying an additional 73 shares during the period. Quattro Advisors LLC purchased a new position in Snap-On in the fourth quarter valued at $35,000. Finally, Annis Gardner Whiting Capital Advisors LLC increased its holdings in Snap-On by 36.4% in the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 105 shares of the company’s stock valued at $36,000 after buying an additional 28 shares in the last quarter. 84.88% of the stock is owned by hedge funds and other institutional investors.

Snap-On Stock Performance

NYSE:SNA opened at $394.54 on Tuesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.64 and a current ratio of 3.43. The stock has a market capitalization of $20.41 billion, a PE ratio of 20.12, a P/E/G ratio of 2.77 and a beta of 0.73. Snap-On Incorporated has a fifty-two week low of $319.20 and a fifty-two week high of $423.02. The company has a fifty day moving average of $403.46 and a two-hundred day moving average of $384.77.

Snap-On (NYSE:SNA) last announced its earnings results on Thursday, July 23rd. The company reported $4.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.95 by $0.01. The business had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.22 billion. Snap-On had a net margin of 21.25% and a return on equity of 17.07%. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter last year, the business earned $4.72 earnings per share. As a group, research analysts forecast that Snap-On Incorporated will post 19.7 earnings per share for the current fiscal year.

Snap-On Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be paid a $2.44 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $9.76 dividend on an annualized basis and a yield of 2.5%. Snap-On’s dividend payout ratio (DPR) is currently 49.77%.

Snap-On declared that its Board of Directors has authorized a share repurchase plan on Thursday, April 30th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 2.5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Barclays started coverage on shares of Snap-On in a research note on Thursday, May 28th. They set an “overweight” rating and a $420.00 target price on the stock. Roth Capital restated a “buy” rating and issued a $461.00 price target (up from $409.00) on shares of Snap-On in a research note on Friday, July 24th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Snap-On in a report on Friday, July 17th. Tigress Financial increased their price target on Snap-On from $445.00 to $485.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Finally, Robert W. Baird set a $415.00 price objective on Snap-On in a report on Friday, July 24th. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Snap-On presently has a consensus rating of “Moderate Buy” and an average price target of $426.20.

Insider Buying and Selling

In other Snap-On news, CFO Aldo John Pagliari sold 5,531 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $404.25, for a total transaction of $2,235,906.75. Following the completion of the sale, the chief financial officer directly owned 120,644 shares in the company, valued at approximately $48,770,337. The trade was a 4.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 22,889 shares of the stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $399.69, for a total value of $9,148,504.41. Following the transaction, the chief executive officer directly owned 867,779 shares of the company’s stock, valued at $346,842,588.51. The trade was a 2.57% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 45,928 shares of company stock worth $18,483,009 in the last quarter. 3.80% of the stock is owned by insiders.

Snap-On 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.