MMA Asset Management LLC Sells 176 Shares of Snap-On Incorporated $SNA

MMA Asset Management LLC decreased its position in shares of Snap-On Incorporated (NYSE:SNA) by 14.3% in the second quarter, HoldingsChannel reports. The firm owned 1,058 shares of the company’s stock after selling 176 shares during the quarter. MMA Asset Management LLC’s holdings in Snap-On were worth $329,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in SNA. Ameritas Advisory Services LLC purchased a new position in Snap-On during the 2nd quarter valued at approximately $30,000. Cullen Frost Bankers Inc. boosted its position in shares of Snap-On by 248.3% during the 1st quarter. Cullen Frost Bankers Inc. now owns 101 shares of the company’s stock valued at $34,000 after acquiring an additional 72 shares during the last quarter. Ransom Advisory Ltd purchased a new position in shares of Snap-On in the first quarter valued at $34,000. Thurston Springer Miller Herd & Titak Inc. increased its position in Snap-On by 52.8% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 110 shares of the company’s stock worth $34,000 after purchasing an additional 38 shares during the last quarter. Finally, Harbor Asset Planning Inc. purchased a new stake in Snap-On during the second quarter valued at $45,000. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Snap-On Stock Down 0.8%

Shares of NYSE SNA opened at $335.91 on Monday. Snap-On Incorporated has a 1 year low of $289.81 and a 1 year high of $373.89. The firm has a 50-day simple moving average of $336.07 and a two-hundred day simple moving average of $324.92. The company has a market cap of $17.47 billion, a P/E ratio of 17.61, a PEG ratio of 2.33 and a beta of 0.78. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.40 and a quick ratio of 3.37.

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

Snap-On Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were given a dividend of $2.14 per share. 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 (DPR) is 44.89%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SNA. Tigress Financial lifted their price objective on shares of Snap-On from $395.00 to $405.00 and gave the stock a “buy” rating in a research note on Tuesday, October 21st. Roth Capital reiterated a “buy” rating and issued a $385.00 price target on shares of Snap-On in a research report on Friday, October 17th. Wall Street Zen raised Snap-On from a “hold” rating to a “buy” rating in a research note on Saturday, October 18th. Robert W. Baird raised their price objective on Snap-On from $355.00 to $365.00 and gave the company a “neutral” rating in a research note on Friday, October 17th. Finally, Barrington Research reiterated an “outperform” rating and issued a $350.00 target price on shares of Snap-On in a report on Wednesday, October 15th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Snap-On currently has an average rating of “Moderate Buy” and an average price target of $365.00.

Insiders Place Their Bets

In other Snap-On news, CEO Nicholas T. Pinchuk sold 23,042 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer directly owned 815,219 shares of the company’s stock, valued at $261,587,472.72. The trade was a 2.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Aldo John Pagliari sold 125 shares of the company’s stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $325.21, for a total transaction of $40,651.25. Following the completion of the transaction, the chief financial officer owned 111,721 shares in the company, valued at $36,332,786.41. This represents a 0.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 27,898 shares of company stock valued at $8,983,203 over the last three months. Insiders own 3.90% 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.