Century Capital Management LLC Trims Holdings in Snap-On Incorporated (SNA)

Century Capital Management LLC trimmed its stake in Snap-On Incorporated (NYSE:SNA) by 33.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,369 shares of the company’s stock after selling 3,167 shares during the quarter. Century Capital Management LLC’s holdings in Snap-On were worth $1,006,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of SNA. Morgan Dempsey Capital Management LLC grew its holdings in Snap-On by 63.7% in the second quarter. Morgan Dempsey Capital Management LLC now owns 676 shares of the company’s stock worth $107,000 after purchasing an additional 263 shares during the period. TrimTabs Asset Management LLC grew its holdings in Snap-On by 88.4% in the first quarter. TrimTabs Asset Management LLC now owns 665 shares of the company’s stock worth $112,000 after purchasing an additional 312 shares during the period. Lloyds Banking Group plc acquired a new stake in Snap-On in the second quarter worth $129,000. Van ECK Associates Corp grew its holdings in Snap-On by 7.5% in the first quarter. Van ECK Associates Corp now owns 845 shares of the company’s stock worth $143,000 after purchasing an additional 59 shares during the period. Finally, IHT Wealth Management LLC grew its holdings in Snap-On by 13.8% in the first quarter. IHT Wealth Management LLC now owns 983 shares of the company’s stock worth $160,000 after purchasing an additional 119 shares during the period. Institutional investors and hedge funds own 93.77% of the company’s stock.

A number of equities research analysts have commented on SNA shares. FBR & Co set a $205.00 price target on shares of Snap-On and gave the stock a “buy” rating in a report on Friday, July 21st. Zacks Investment Research upgraded shares of Snap-On from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $175.00 price objective on shares of Snap-On in a research note on Thursday, July 6th. Longbow Research lowered shares of Snap-On from a “buy” rating to a “neutral” rating in a research note on Monday, August 21st. Finally, Robert W. Baird reaffirmed an “outperform” rating and issued a $197.00 price objective on shares of Snap-On in a research note on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $197.86.

Snap-On Incorporated (NYSE:SNA) opened at 147.21 on Tuesday. Snap-On Incorporated has a 1-year low of $140.83 and a 1-year high of $181.73. The company has a market capitalization of $8.48 billion, a price-to-earnings ratio of 15.24 and a beta of 1.05. The firm has a 50 day moving average of $149.13 and a 200-day moving average of $160.28.

Snap-On (NYSE:SNA) last released its earnings results on Thursday, July 20th. The company reported $2.60 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.55 by $0.05. The firm had revenue of $921.40 million for the quarter, compared to the consensus estimate of $920.87 million. Snap-On had a net margin of 16.22% and a return on equity of 20.90%. The company’s revenue was up 5.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.36 EPS. On average, equities research analysts anticipate that Snap-On Incorporated will post $10.09 earnings per share for the current fiscal year.

Snap-On announced that its Board of Directors has approved a stock buyback plan on Monday, August 7th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s board believes its stock is undervalued.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Friday, August 18th were given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date of this dividend was Wednesday, August 16th. Snap-On’s dividend payout ratio is presently 29.34%.

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In other news, Director Ruth Ann M. Gillis acquired 265 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The shares were bought at an average cost of $152.58 per share, with a total value of $40,433.70. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Iain Boyd sold 18,418 shares of the stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $147.54, for a total transaction of $2,717,391.72. The disclosure for this sale can be found here. 3.70% of the stock is owned by corporate insiders.

Snap-On Profile

Snap-on Incorporated is a manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions. The Company’s segments include the Commercial & Industrial Group, the Snap-on Tools Group, the Repair Systems & Information Group, and Financial Services. The Commercial & Industrial Group consists of business operations serving a range of industrial and commercial customers, including customers in the aerospace, natural resources, government, power generation, transportation and technical education markets.

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Institutional Ownership by Quarter for Snap-On (NYSE:SNA)

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