MCF Advisors LLC Increases Stock Position in Snap-on Incorporated (NYSE:SNA)

MCF Advisors LLC boosted its holdings in Snap-on Incorporated (NYSE:SNA) by 12.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 843 shares of the company’s stock after purchasing an additional 96 shares during the quarter. MCF Advisors LLC’s holdings in Snap-on were worth $250,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Checchi Capital Advisers LLC grew its stake in shares of Snap-on by 2.0% during the 4th quarter. Checchi Capital Advisers LLC now owns 1,830 shares of the company’s stock worth $529,000 after purchasing an additional 36 shares during the period. Venturi Wealth Management LLC grew its position in Snap-on by 17.2% during the fourth quarter. Venturi Wealth Management LLC now owns 272 shares of the company’s stock worth $79,000 after buying an additional 40 shares during the period. Czech National Bank increased its holdings in Snap-on by 0.4% in the first quarter. Czech National Bank now owns 9,286 shares of the company’s stock valued at $2,751,000 after buying an additional 41 shares in the last quarter. Alliance Wealth Advisors LLC UT lifted its position in shares of Snap-on by 0.5% during the 4th quarter. Alliance Wealth Advisors LLC UT now owns 8,664 shares of the company’s stock valued at $2,503,000 after acquiring an additional 47 shares during the period. Finally, Contravisory Investment Management Inc. boosted its stake in shares of Snap-on by 2.5% during the 4th quarter. Contravisory Investment Management Inc. now owns 1,973 shares of the company’s stock worth $570,000 after acquiring an additional 48 shares in the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

Snap-on Stock Performance

NYSE SNA opened at $261.39 on Friday. The company has a quick ratio of 2.83, a current ratio of 3.82 and a debt-to-equity ratio of 0.23. Snap-on Incorporated has a fifty-two week low of $249.84 and a fifty-two week high of $298.49. The business has a fifty day moving average of $270.62 and a 200-day moving average of $279.94. The stock has a market cap of $13.78 billion, a price-to-earnings ratio of 13.71, a price-to-earnings-growth ratio of 1.81 and a beta of 0.99.

Snap-on (NYSE:SNA) last announced its earnings results on Thursday, April 18th. The company reported $4.75 earnings per share for the quarter, beating the consensus estimate of $4.66 by $0.09. The firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.20 billion. Snap-on had a net margin of 21.69% and a return on equity of 20.46%. The firm’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.60 EPS. As a group, analysts predict that Snap-on Incorporated will post 19.01 earnings per share for the current fiscal year.

Snap-on Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Monday, May 20th were paid a $1.86 dividend. The ex-dividend date of this dividend was Friday, May 17th. This represents a $7.44 annualized dividend and a yield of 2.85%. Snap-on’s payout ratio is currently 39.03%.

Insiders Place Their Bets

In other news, CEO Nicholas T. Pinchuk sold 24,220 shares of the firm’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $266.80, for a total transaction of $6,461,896.00. Following the sale, the chief executive officer now owns 750,663 shares in the company, valued at $200,276,888.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Jesus Arregui sold 8,434 shares of Snap-on stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $265.17, for a total value of $2,236,443.78. Following the transaction, the senior vice president now owns 252 shares in the company, valued at $66,822.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 24,220 shares of the company’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $266.80, for a total value of $6,461,896.00. Following the sale, the chief executive officer now owns 750,663 shares of the company’s stock, valued at $200,276,888.40. The disclosure for this sale can be found here. In the last three months, insiders sold 38,632 shares of company stock valued at $10,353,409. Company insiders own 4.10% of the company’s stock.

Analyst Upgrades and Downgrades

SNA has been the subject of several research reports. Barrington Research reaffirmed an “outperform” rating and set a $325.00 price objective on shares of Snap-on in a report on Wednesday, May 22nd. Robert W. Baird cut their price target on Snap-on from $295.00 to $282.00 and set a “neutral” rating for the company in a research note on Friday, April 19th. Finally, Roth Mkm reissued a “buy” rating and issued a $324.00 price objective on shares of Snap-on in a research note on Thursday, April 18th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $316.75.

Snap-on 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.