Snap-on Incorporated (NYSE:SNA) Shares Acquired by Bryn Mawr Capital Management LLC

Bryn Mawr Capital Management LLC boosted its holdings in Snap-on Incorporated (NYSE:SNA) by 15.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,330 shares of the company’s stock after purchasing an additional 1,754 shares during the quarter. Bryn Mawr Capital Management LLC’s holdings in Snap-on were worth $3,484,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Earnest Partners LLC lifted its stake in shares of Snap-on by 9.9% in the 1st quarter. Earnest Partners LLC now owns 929,710 shares of the company’s stock valued at $275,399,000 after purchasing an additional 83,686 shares in the last quarter. Nordea Investment Management AB lifted its position in Snap-on by 3.2% during the first quarter. Nordea Investment Management AB now owns 891,994 shares of the company’s stock valued at $265,217,000 after buying an additional 27,429 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Snap-on by 0.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 773,087 shares of the company’s stock worth $223,304,000 after buying an additional 3,449 shares during the period. Envestnet Asset Management Inc. increased its position in shares of Snap-on by 2.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 755,445 shares of the company’s stock worth $218,203,000 after acquiring an additional 16,972 shares in the last quarter. Finally, LSV Asset Management raised its stake in shares of Snap-on by 0.5% in the 1st quarter. LSV Asset Management now owns 674,341 shares of the company’s stock valued at $199,753,000 after acquiring an additional 3,535 shares during the period. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Snap-on Stock Up 0.9 %

SNA traded up $2.60 on Friday, reaching $283.74. The company’s stock had a trading volume of 292,388 shares, compared to its average volume of 290,839. Snap-on Incorporated has a 1 year low of $249.84 and a 1 year high of $298.49. The business’s 50 day moving average is $271.70 and its 200 day moving average is $275.87. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.06 and a quick ratio of 3.05. The stock has a market cap of $14.95 billion, a price-to-earnings ratio of 14.89, a price-to-earnings-growth ratio of 1.96 and a beta of 0.98.

Snap-on (NYSE:SNA) last released its earnings results on Thursday, July 18th. The company reported $5.07 EPS for the quarter, beating the consensus estimate of $4.94 by $0.13. The company had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.20 billion. Snap-on had a return on equity of 19.90% and a net margin of 21.90%. The business’s revenue was down 1.0% on a year-over-year basis. During the same period in the prior year, the business posted $4.89 EPS. As a group, research analysts forecast that Snap-on Incorporated will post 18.95 EPS for the current fiscal year.

Snap-on Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th will be paid a $1.86 dividend. The ex-dividend date of this dividend is Monday, August 19th. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.62%. Snap-on’s dividend payout ratio (DPR) is presently 39.03%.

Snap-on announced that its Board of Directors has approved a stock repurchase plan on Thursday, August 8th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 3.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Insider Transactions at Snap-on

In other news, CEO Nicholas T. Pinchuk sold 24,220 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 750,663 shares in the company, valued at approximately $200,276,888.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Nicholas T. Pinchuk sold 24,220 shares of Snap-on stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $266.80, for a total value of $6,461,896.00. Following the completion of the transaction, the chief executive officer now directly owns 750,663 shares of the company’s stock, valued at approximately $200,276,888.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 completion of the transaction, the chief executive officer now owns 759,019 shares of the company’s stock, valued at $204,138,160.05. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 54,024 shares of company stock valued at $14,539,286. Insiders own 4.10% of the company’s stock.

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.