Hamlin Capital Management LLC Acquires 13,016 Shares of Snap-On Incorporated $SNA

Hamlin Capital Management LLC increased its holdings in shares of Snap-On Incorporated (NYSE:SNA) by 2.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 515,661 shares of the company’s stock after buying an additional 13,016 shares during the period. Snap-On accounts for about 3.7% of Hamlin Capital Management LLC’s investment portfolio, making the stock its 16th biggest holding. Hamlin Capital Management LLC owned approximately 0.99% of Snap-On worth $160,463,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Foster & Motley Inc. raised its stake in shares of Snap-On by 1.4% during the second quarter. Foster & Motley Inc. now owns 20,187 shares of the company’s stock worth $6,282,000 after buying an additional 275 shares during the last quarter. Chevy Chase Trust Holdings LLC raised its stake in shares of Snap-On by 1.0% during the second quarter. Chevy Chase Trust Holdings LLC now owns 56,439 shares of the company’s stock worth $17,563,000 after buying an additional 541 shares during the last quarter. Stratos Wealth Partners LTD. raised its stake in shares of Snap-On by 4.7% during the second quarter. Stratos Wealth Partners LTD. now owns 31,992 shares of the company’s stock worth $9,955,000 after buying an additional 1,450 shares during the last quarter. Master S Wealth Management Inc. grew its holdings in Snap-On by 50.7% during the second quarter. Master S Wealth Management Inc. now owns 1,540 shares of the company’s stock valued at $479,000 after purchasing an additional 518 shares during the period. Finally, Nordea Investment Management AB grew its holdings in Snap-On by 3.7% during the second quarter. Nordea Investment Management AB now owns 1,221,748 shares of the company’s stock valued at $376,775,000 after purchasing an additional 43,430 shares during the period. 84.88% of the stock is owned by institutional investors.

Insider Activity at Snap-On

In other news, CEO Nicholas T. Pinchuk sold 23,042 shares of the company’s stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $320.88, for a total value of $7,393,716.96. Following the completion of the transaction, the chief executive officer owned 815,219 shares in the company, valued at $261,587,472.72. This represents a 2.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Aldo John Pagliari sold 4,731 shares of the stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $327.38, for a total transaction of $1,548,834.78. Following the transaction, the chief financial officer owned 111,667 shares of the company’s stock, valued at $36,557,542.46. The trade was a 4.06% decrease in their position. The disclosure for this sale can be found here. Insiders sold 27,898 shares of company stock valued at $8,983,203 in the last quarter. Corporate insiders own 3.90% of the company’s stock.

Wall Street Analysts Forecast Growth

SNA has been the subject of a number of analyst reports. Barrington Research restated an “outperform” rating and set a $350.00 price objective on shares of Snap-On in a report on Wednesday. Bank of America boosted their price objective on shares of Snap-On from $265.00 to $285.00 and gave the company an “underperform” rating in a report on Friday, July 18th. Robert W. Baird boosted their price objective on shares of Snap-On from $355.00 to $365.00 and gave the company a “neutral” rating in a report on Friday. Roth Capital restated a “buy” rating and set a $385.00 price objective on shares of Snap-On in a report on Friday. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a report on Wednesday, October 8th. Six research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Snap-On currently has a consensus rating of “Moderate Buy” and a consensus price target of $363.57.

Snap-On Stock Down 1.3%

Snap-On stock opened at $339.61 on Friday. The stock has a market capitalization of $17.72 billion, a PE ratio of 17.81, a price-to-earnings-growth ratio of 2.39 and a beta of 0.78. Snap-On Incorporated has a twelve month low of $289.81 and a twelve month high of $373.89. The company has a quick ratio of 3.42, a current ratio of 4.40 and a debt-to-equity ratio of 0.20. The company has a 50 day moving average of $332.77 and a 200-day moving average of $323.84.

Snap-On (NYSE:SNA) last released its quarterly earnings results on Thursday, October 16th. The company reported $4.71 earnings per share for the quarter, beating the consensus estimate of $4.59 by $0.12. The company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Snap-On had a net margin of 21.08% and a return on equity of 17.71%. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.70 earnings per share. On average, equities research analysts anticipate that Snap-On Incorporated will post 19.79 EPS for the current fiscal year.

Snap-On Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were issued a $2.14 dividend. This represents a $8.56 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Tuesday, August 19th. Snap-On’s dividend payout ratio is 44.89%.

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.