Amalgamated Bank Raises Position in Snap-on Incorporated (NYSE:SNA)

Amalgamated Bank increased its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 1.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,149 shares of the company’s stock after buying an additional 180 shares during the quarter. Amalgamated Bank’s holdings in Snap-on were worth $3,785,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. CWS Financial Advisors LLC purchased a new stake in shares of Snap-on during the fourth quarter worth about $232,000. BankPlus Trust Department purchased a new stake in Snap-on during the 4th quarter worth approximately $173,000. IFP Advisors Inc increased its stake in Snap-on by 9.4% during the 4th quarter. IFP Advisors Inc now owns 826 shares of the company’s stock valued at $282,000 after purchasing an additional 71 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its holdings in shares of Snap-on by 8.6% in the fourth quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 20,181 shares of the company’s stock worth $6,851,000 after buying an additional 1,600 shares during the last quarter. Finally, Howard Capital Management Inc. acquired a new stake in shares of Snap-on during the fourth quarter worth $328,000. 84.88% of the stock is owned by institutional investors and hedge funds.

Snap-on Stock Performance

SNA opened at $341.00 on Friday. The company has a current ratio of 4.15, a quick ratio of 3.17 and a debt-to-equity ratio of 0.22. Snap-on Incorporated has a 12-month low of $252.98 and a 12-month high of $373.89. The firm has a 50 day moving average of $343.30 and a two-hundred day moving average of $325.04. The firm has a market capitalization of $17.87 billion, a PE ratio of 17.49, a P/E/G ratio of 2.21 and a beta of 0.99.

Snap-on (NYSE:SNA) last posted its earnings results on Thursday, February 6th. The company reported $4.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.78 by $0.04. Snap-on had a net margin of 21.71% and a return on equity of 19.20%. During the same quarter in the prior year, the firm earned $4.75 earnings per share. On average, analysts anticipate that Snap-on Incorporated will post 19.79 EPS for the current year.

Snap-on Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 24th will be issued a dividend of $2.14 per share. This represents a $8.56 annualized dividend and a yield of 2.51%. The ex-dividend date is Monday, February 24th. Snap-on’s dividend payout ratio (DPR) is 43.90%.

Insider Activity at Snap-on

In related news, CEO Nicholas T. Pinchuk sold 21,783 shares of the firm’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $354.83, for a total transaction of $7,729,261.89. Following the sale, the chief executive officer now owns 769,738 shares in the company, valued at approximately $273,126,134.54. This trade represents a 2.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP June C. Lemerand sold 3,500 shares of Snap-on stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $362.86, for a total transaction of $1,270,010.00. Following the completion of the transaction, the vice president now directly owns 2,289 shares of the company’s stock, valued at $830,586.54. The trade was a 60.46 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 45,503 shares of company stock worth $15,906,074. 4.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, Barrington Research reissued an “outperform” rating and issued a $350.00 target price on shares of Snap-on in a research report on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $345.40.

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.