Sanctuary Advisors LLC Invests $11.96 Million in Snap-on Incorporated (NYSE:SNA)

Sanctuary Advisors LLC bought a new stake in shares of Snap-on Incorporated (NYSE:SNA) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 44,178 shares of the company’s stock, valued at approximately $11,959,000. Sanctuary Advisors LLC owned approximately 0.08% of Snap-on as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of SNA. Renasant Bank raised its position in shares of Snap-on by 2.3% during the 1st quarter. Renasant Bank now owns 1,592 shares of the company’s stock valued at $472,000 after purchasing an additional 36 shares during the period. Phillips Wealth Planners LLC raised its holdings in Snap-on by 3.8% during the first quarter. Phillips Wealth Planners LLC now owns 1,012 shares of the company’s stock valued at $286,000 after acquiring an additional 37 shares during the period. TFB Advisors LLC boosted its stake in shares of Snap-on by 3.2% in the second quarter. TFB Advisors LLC now owns 1,226 shares of the company’s stock worth $320,000 after acquiring an additional 38 shares during the period. Financial Advocates Investment Management grew its position in shares of Snap-on by 1.2% during the second quarter. Financial Advocates Investment Management now owns 3,360 shares of the company’s stock worth $878,000 after purchasing an additional 39 shares in the last quarter. Finally, Ritholtz Wealth Management raised its stake in Snap-on by 4.0% during the 2nd quarter. Ritholtz Wealth Management now owns 1,013 shares of the company’s stock valued at $265,000 after purchasing an additional 39 shares during the period. Institutional investors own 84.88% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on SNA shares. Tigress Financial reaffirmed a “buy” rating and set a $336.00 price objective on shares of Snap-on in a report on Thursday, July 25th. Barrington Research reaffirmed an “outperform” rating and set a $325.00 target price on shares of Snap-on in a research note on Friday, September 20th. Roth Mkm reiterated a “buy” rating and issued a $324.00 price target on shares of Snap-on in a research note on Tuesday, July 16th. Finally, Robert W. Baird dropped their price objective on shares of Snap-on from $282.00 to $275.00 and set a “neutral” rating for the company in a report on Friday, July 12th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $315.00.

Snap-on Trading Down 0.8 %

Shares of SNA opened at $288.71 on Friday. The stock has a market capitalization of $15.21 billion, a PE ratio of 15.15, a P/E/G ratio of 2.00 and a beta of 0.98. The company’s fifty day moving average is $279.49 and its 200 day moving average is $276.37. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.05 and a current ratio of 4.06. Snap-on Incorporated has a fifty-two week low of $249.84 and a fifty-two week high of $298.49.

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

Snap-on Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were paid a $1.86 dividend. This represents a $7.44 annualized dividend and a dividend yield of 2.58%. The ex-dividend date was Monday, August 19th. Snap-on’s payout ratio is 39.03%.

Snap-on declared that its Board of Directors has approved a stock buyback plan on Thursday, August 8th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 3.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Insider Transactions at Snap-on

In related news, CEO Nicholas T. Pinchuk sold 24,145 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $268.95, for a total value of $6,493,797.75. Following the completion of 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 filing with the SEC, which can be accessed through this link. In other Snap-on news, VP June C. Lemerand sold 1,186 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $283.97, for a total value of $336,788.42. Following the completion of the sale, the vice president now owns 2,283 shares of the company’s stock, valued at $648,303.51. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Nicholas T. Pinchuk sold 24,145 shares of the company’s 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 directly owns 759,019 shares in the company, valued at approximately $204,138,160.05. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,804 shares of company stock worth $8,077,390. 4.10% of the stock is currently owned by company 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.