Manning & Napier Advisors LLC Makes New $3.34 Million Investment in Snap-On Incorporated $SNA

Manning & Napier Advisors LLC bought a new stake in shares of Snap-On Incorporated (NYSE:SNA) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 8,301 shares of the company’s stock, valued at approximately $3,340,000.

Several other large investors have also recently made changes to their positions in the stock. DV Equities LLC purchased a new position in Snap-On in the fourth quarter valued at about $25,000. Western Wealth Management LLC bought a new stake in shares of Snap-On in the 1st quarter valued at about $29,000. Montag A & Associates Inc. boosted its holdings in shares of Snap-On by 331.8% in the 4th quarter. Montag A & Associates Inc. now owns 95 shares of the company’s stock valued at $33,000 after buying an additional 73 shares in the last quarter. Quattro Advisors LLC purchased a new position in shares of Snap-On in the 4th quarter worth approximately $35,000. Finally, Annis Gardner Whiting Capital Advisors LLC grew its position in shares of Snap-On by 36.4% in the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 105 shares of the company’s stock worth $36,000 after buying an additional 28 shares during the last quarter. 84.88% of the stock is owned by institutional investors.

Analyst Ratings Changes

SNA has been the subject of a number of analyst reports. Robert W. Baird set a $415.00 target price on shares of Snap-On in a research report on Friday, July 24th. Tigress Financial upped their price target on Snap-On from $445.00 to $485.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Barclays began coverage on Snap-On in a report on Thursday, May 28th. They set an “overweight” rating and a $420.00 price objective for the company. Roth Capital restated a “buy” rating and set a $461.00 target price (up from $409.00) on shares of Snap-On in a research note on Friday, July 24th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Snap-On in a research report on Friday, July 17th. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Snap-On presently has an average rating of “Moderate Buy” and a consensus price target of $426.20.

Snap-On Trading Up 0.3%

NYSE:SNA opened at $394.54 on Tuesday. The company has a market capitalization of $20.41 billion, a P/E ratio of 20.12, a PEG ratio of 2.77 and a beta of 0.73. The company has a current ratio of 3.43, a quick ratio of 2.64 and a debt-to-equity ratio of 0.15. Snap-On Incorporated has a 12 month low of $319.20 and a 12 month high of $423.02. The firm has a fifty day simple moving average of $403.46 and a 200-day simple moving average of $384.77.

Snap-On (NYSE:SNA) last issued its earnings results on Thursday, July 23rd. The company reported $4.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.95 by $0.01. The company had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.22 billion. Snap-On had a return on equity of 17.07% and a net margin of 21.25%.The firm’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the business posted $4.72 EPS. On average, equities research analysts anticipate that Snap-On Incorporated will post 19.7 earnings per share for the current year.

Snap-On Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be given a $2.44 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $9.76 dividend on an annualized basis and a yield of 2.5%. Snap-On’s dividend payout ratio is currently 49.77%.

Snap-On declared that its Board of Directors has initiated a stock buyback plan on Thursday, April 30th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to buy up to 2.5% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In related news, CFO Aldo John Pagliari sold 5,531 shares of the firm’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $404.25, for a total transaction of $2,235,906.75. Following the completion of the transaction, the chief financial officer owned 120,644 shares of the company’s stock, valued at $48,770,337. This trade represents a 4.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Nicholas T. Pinchuk sold 22,889 shares of the business’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $399.69, for a total transaction of $9,148,504.41. Following the transaction, the chief executive officer owned 867,779 shares of the company’s stock, valued at $346,842,588.51. This represents a 2.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 45,928 shares of company stock worth $18,483,009 in the last quarter. 3.80% of the stock is currently owned by corporate insiders.

Snap-On Company Profile

Snap‑On Incorporated (NYSE: SNA) is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company’s product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap‑On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.

Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap‑On has established a long history in the professional tools market.