Allstate Corp Makes New $526,000 Investment in Snap-on Incorporated (NYSE:SNA)

Allstate Corp purchased a new stake in Snap-on Incorporated (NYSE:SNA) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 1,550 shares of the company’s stock, valued at approximately $526,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in SNA. UMB Bank n.a. grew its position in Snap-on by 70.5% in the fourth quarter. UMB Bank n.a. now owns 75 shares of the company’s stock worth $25,000 after acquiring an additional 31 shares during the period. SBI Securities Co. Ltd. acquired a new position in shares of Snap-on in the 4th quarter valued at $26,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Snap-on during the 4th quarter worth $28,000. CoreFirst Bank & Trust purchased a new stake in Snap-on in the 4th quarter valued at about $40,000. Finally, TCTC Holdings LLC lifted its position in Snap-on by 41.3% in the fourth quarter. TCTC Holdings LLC now owns 147 shares of the company’s stock valued at $50,000 after buying an additional 43 shares during the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on SNA. Tigress Financial boosted their price target on shares of Snap-on from $385.00 to $390.00 and gave the company a “buy” rating in a research note on Tuesday, March 4th. Barrington Research reissued an “outperform” rating and issued a $350.00 target price on shares of Snap-on in a research report on Monday, February 10th. Finally, Longbow Research upgraded Snap-on from a “neutral” rating to a “buy” rating and set a $400.00 price target on the stock in a research note on Monday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Snap-on has an average rating of “Moderate Buy” and an average price target of $355.33.

Snap-on Price Performance

Shares of SNA opened at $339.31 on Wednesday. The company has a market cap of $17.79 billion, a P/E ratio of 17.40, a PEG ratio of 2.21 and a beta of 0.99. Snap-on Incorporated has a fifty-two week low of $252.98 and a fifty-two week high of $373.90. The company has a quick ratio of 3.17, a current ratio of 4.15 and a debt-to-equity ratio of 0.22. The firm’s 50 day moving average price is $339.60 and its 200 day moving average price is $334.75.

Snap-on (NYSE:SNA) last posted its quarterly earnings data on Thursday, February 6th. The company reported $4.82 earnings per share for the quarter, topping analysts’ consensus estimates of $4.78 by $0.04. Snap-on had a return on equity of 19.20% and a net margin of 21.71%. During the same quarter last year, the company earned $4.75 EPS. On average, research analysts forecast that Snap-on Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-on Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 24th were given a $2.14 dividend. This represents a $8.56 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date of this dividend was Monday, February 24th. Snap-on’s dividend payout ratio is currently 43.90%.

Insider Activity

In other news, CFO Aldo John Pagliari sold 6,860 shares of Snap-on stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $339.05, for a total transaction of $2,325,883.00. Following the completion of the sale, the chief financial officer now directly owns 107,096 shares of the company’s stock, valued at approximately $36,310,898.80. The trade was a 6.02 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Nicholas T. Pinchuk sold 22,700 shares of the business’s stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $335.32, for a total transaction of $7,611,764.00. Following the transaction, the chief executive officer now owns 793,932 shares of the company’s stock, valued at approximately $266,221,278.24. The trade was a 2.78 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,011 shares of company stock worth $12,116,859. 3.90% of the stock is currently owned by company insiders.

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.