Twelve Points Wealth Management LLC Grows Stake in Snap-on Incorporated (NYSE:SNA)

Twelve Points Wealth Management LLC lifted its stake in shares of Snap-on Incorporated (NYSE:SNA) by 9.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,059 shares of the company’s stock after purchasing an additional 257 shares during the period. Twelve Points Wealth Management LLC’s holdings in Snap-on were worth $886,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Rockland Trust Co. bought a new stake in shares of Snap-on in the first quarter valued at $889,000. Manning & Napier Advisors LLC purchased a new stake in shares of Snap-on in the second quarter worth about $4,571,000. SG Americas Securities LLC boosted its position in shares of Snap-on by 32.7% in the second quarter. SG Americas Securities LLC now owns 13,140 shares of the company’s stock valued at $3,435,000 after acquiring an additional 3,238 shares during the period. Strategic Financial Concepts LLC bought a new position in shares of Snap-on in the second quarter valued at approximately $3,653,000. Finally, Los Angeles Capital Management LLC grew its stake in Snap-on by 34.8% during the first quarter. Los Angeles Capital Management LLC now owns 26,580 shares of the company’s stock valued at $7,874,000 after acquiring an additional 6,858 shares in the last quarter. Institutional investors own 84.88% of the company’s stock.

Snap-on Price Performance

Shares of Snap-on stock opened at $297.88 on Thursday. The stock has a market capitalization of $15.70 billion, a price-to-earnings ratio of 15.63, a price-to-earnings-growth ratio of 1.99 and a beta of 0.98. The company has a fifty day moving average of $281.47 and a 200-day moving average of $276.05. Snap-on Incorporated has a 52-week low of $249.84 and a 52-week high of $302.64. 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 (NYSE:SNA) last announced its quarterly earnings data on Thursday, July 18th. The company reported $5.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.94 by $0.13. Snap-on had a return on equity of 19.90% and a net margin of 21.90%. The firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same period last year, the firm earned $4.89 earnings per share. The company’s revenue for the quarter was down 1.0% compared to the same quarter last year. Equities research analysts expect that Snap-on Incorporated will post 18.95 EPS for the current year.

Snap-on Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were given a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date of this dividend was Monday, August 19th. Snap-on’s payout ratio is 39.03%.

Snap-on announced that its board has authorized a share repurchase plan on Thursday, August 8th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to purchase up to 3.5% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

SNA has been the topic of several recent analyst reports. Roth Mkm reiterated a “buy” rating and issued a $324.00 target price on shares of Snap-on in a research note on Tuesday, July 16th. Barrington Research reaffirmed an “outperform” rating and issued a $325.00 price target on shares of Snap-on in a report on Friday, September 20th. Tigress Financial reissued a “buy” rating and set a $336.00 price objective on shares of Snap-on in a report on Thursday, July 25th. Finally, Robert W. Baird dropped their target price on shares of Snap-on from $282.00 to $275.00 and set a “neutral” rating for the company in a research report on Friday, July 12th.

Insider Transactions at Snap-on

In related news, VP Iain Boyd sold 6,044 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $298.99, for a total transaction of $1,807,095.56. Following the transaction, the vice president now owns 10,493 shares in the company, valued at $3,137,302.07. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Nicholas T. Pinchuk sold 24,145 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 759,019 shares of the company’s stock, valued at $204,138,160.05. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Iain Boyd sold 6,044 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $298.99, for a total value of $1,807,095.56. Following the transaction, the vice president now directly owns 10,493 shares of the company’s stock, valued at approximately $3,137,302.07. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,848 shares of company stock worth $9,884,486. Company insiders own 4.10% of the company’s stock.

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.