Snap-on Incorporated (NYSE:SNA) Shares Bought by Amalgamated Bank

Amalgamated Bank increased its holdings in Snap-on Incorporated (NYSE:SNA) by 25.2% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 13,838 shares of the company’s stock after buying an additional 2,788 shares during the period. Amalgamated Bank’s holdings in Snap-on were worth $3,617,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Scarborough Advisors LLC acquired a new position in Snap-on in the fourth quarter valued at approximately $30,000. Opal Wealth Advisors LLC acquired a new position in Snap-on during the 2nd quarter valued at approximately $30,000. Innealta Capital LLC acquired a new position in Snap-on during the 2nd quarter valued at approximately $32,000. Versant Capital Management Inc grew its stake in Snap-on by 529.0% during the 2nd quarter. Versant Capital Management Inc now owns 195 shares of the company’s stock worth $51,000 after buying an additional 164 shares during the last quarter. Finally, Fidelis Capital Partners LLC acquired a new stake in Snap-on in the first quarter worth $56,000. Institutional investors own 84.88% of the company’s stock.

Snap-on Stock Performance

Shares of SNA opened at $283.19 on Monday. The firm has a market capitalization of $14.93 billion, a PE ratio of 14.86, a P/E/G ratio of 1.95 and a beta of 0.98. The company has a quick ratio of 3.05, a current ratio of 4.06 and a debt-to-equity ratio of 0.22. The firm has a 50-day moving average price of $277.23 and a 200 day moving average price of $276.57. Snap-on Incorporated has a 52-week low of $249.84 and a 52-week high of $298.49.

Snap-on (NYSE:SNA) last posted its quarterly earnings data on Thursday, July 18th. The company reported $5.07 EPS for the quarter, beating analysts’ consensus estimates of $4.94 by $0.13. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.20 billion. Snap-on had a net margin of 21.90% and a return on equity of 19.90%. The business’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same quarter last year, the business earned $4.89 earnings per share. On average, sell-side analysts anticipate that Snap-on Incorporated will post 18.95 earnings per share for the current fiscal year.

Snap-on Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were issued a $1.86 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $7.44 annualized dividend and a dividend yield of 2.63%. Snap-on’s dividend payout ratio (DPR) is 39.03%.

Snap-on announced that its board has initiated a stock buyback program on Thursday, August 8th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 3.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

SNA has been the subject of several analyst reports. Barrington Research reissued an “outperform” rating and set a $325.00 price target on shares of Snap-on in a report on Friday. Roth Mkm restated a “buy” rating and issued a $324.00 target price on shares of Snap-on in a research report on Tuesday, July 16th. Tigress Financial restated a “buy” rating and issued a $336.00 price target on shares of Snap-on in a research note on Thursday, July 25th. Finally, Robert W. Baird reduced their price objective on Snap-on from $282.00 to $275.00 and set a “neutral” rating for the company in a research report on Friday, July 12th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $315.00.

Insider Activity at Snap-on

In other Snap-on news, CEO Nicholas T. Pinchuk sold 24,145 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $268.95, for a total value of $6,493,797.75. Following the sale, the chief executive officer now directly owns 759,019 shares in the company, valued at $204,138,160.05. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Snap-on news, CEO Nicholas T. Pinchuk sold 24,145 shares of Snap-on stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $268.95, for a total value of $6,493,797.75. Following the transaction, the chief executive officer now owns 759,019 shares in the company, valued at $204,138,160.05. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Aldo John Pagliari sold 4,473 shares of the stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $278.74, for a total value of $1,246,804.02. Following the sale, the chief financial officer now owns 99,244 shares of the company’s stock, valued at approximately $27,663,272.56. The disclosure for this sale can be found here. Insiders sold 29,804 shares of company stock valued at $8,077,390 over the last 90 days. 4.10% of the stock is currently owned by corporate insiders.

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.