Bryn Mawr Capital Management LLC Increases Stock Holdings in Snap-on Incorporated (NYSE:SNA)

Bryn Mawr Capital Management LLC lifted its stake in shares of Snap-on Incorporated (NYSE:SNA) by 3.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,392 shares of the company’s stock after buying an additional 385 shares during the period. Bryn Mawr Capital Management LLC’s holdings in Snap-on were worth $3,290,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Nordea Investment Management AB grew its position in shares of Snap-on by 52.8% during the 4th quarter. Nordea Investment Management AB now owns 864,565 shares of the company’s stock valued at $249,743,000 after acquiring an additional 298,727 shares during the period. Envestnet Asset Management Inc. increased its stake in shares of Snap-on by 25.1% during the 3rd quarter. Envestnet Asset Management Inc. now owns 738,473 shares of the company’s stock worth $188,355,000 after purchasing an additional 147,997 shares during the last quarter. FMR LLC increased its stake in shares of Snap-on by 229.8% during the 3rd quarter. FMR LLC now owns 154,401 shares of the company’s stock worth $39,381,000 after purchasing an additional 107,582 shares during the last quarter. Qube Research & Technologies Ltd increased its stake in shares of Snap-on by 388.0% during the 3rd quarter. Qube Research & Technologies Ltd now owns 127,656 shares of the company’s stock worth $32,560,000 after purchasing an additional 101,499 shares during the last quarter. Finally, QRG Capital Management Inc. purchased a new stake in shares of Snap-on during the 3rd quarter worth approximately $23,490,000. Institutional investors own 84.88% of the company’s stock.

Insider Buying and Selling at Snap-on

In related news, VP Richard Thomas Miller sold 704 shares of the business’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $298.16, for a total transaction of $209,904.64. Following the transaction, the vice president now owns 3,213 shares in the company, valued at $957,988.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, VP Richard Thomas Miller sold 704 shares of the business’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $298.16, for a total transaction of $209,904.64. Following the sale, the vice president now owns 3,213 shares of the company’s stock, valued at $957,988.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Nicholas T. Pinchuk sold 23,514 shares of the business’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $287.48, for a total transaction of $6,759,804.72. Following the sale, the chief executive officer now directly owns 742,383 shares in the company, valued at approximately $213,420,264.84. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 49,930 shares of company stock worth $14,089,523. 4.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

SNA has been the subject of several research analyst reports. Tigress Financial restated a “buy” rating and set a $336.00 price target on shares of Snap-on in a research note on Friday, February 16th. Barrington Research restated an “outperform” rating and set a $325.00 price target on shares of Snap-on in a research note on Monday, April 15th. Robert W. Baird reduced their price objective on shares of Snap-on from $295.00 to $282.00 and set a “neutral” rating for the company in a research note on Friday, April 19th. Finally, Roth Mkm reiterated a “buy” rating and issued a $324.00 price objective on shares of Snap-on in a research note on Thursday, April 18th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $316.75.

Snap-on Trading Up 0.2 %

NYSE:SNA traded up $0.54 during trading hours on Friday, reaching $270.70. The company’s stock had a trading volume of 237,139 shares, compared to its average volume of 313,779. The firm has a market capitalization of $14.27 billion, a price-to-earnings ratio of 14.20, a PEG ratio of 1.89 and a beta of 0.99. The firm has a 50-day simple moving average of $284.21 and a 200-day simple moving average of $278.66. Snap-on Incorporated has a 1 year low of $247.68 and a 1 year high of $298.49. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.83 and a current ratio of 3.82.

Snap-on (NYSE:SNA) last issued its earnings results on Thursday, April 18th. The company reported $4.75 EPS for the quarter, topping analysts’ consensus estimates of $4.66 by $0.09. The company had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Snap-on had a net margin of 21.69% and a return on equity of 20.46%. The firm’s revenue was down .1% compared to the same quarter last year. During the same quarter last year, the company earned $4.60 EPS. Research analysts expect that Snap-on Incorporated will post 19.02 EPS for the current fiscal year.

Snap-on Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Monday, May 20th will be given a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.75%. Snap-on’s payout ratio is 39.03%.

About Snap-on

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.