Public Sector Pension Investment Board Acquires 10,058 Shares of Snap-on Incorporated (NYSE:SNA)

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Public Sector Pension Investment Board boosted its holdings in Snap-on Incorporated (NYSE:SNA) by 93.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,822 shares of the company’s stock after purchasing an additional 10,058 shares during the quarter. Public Sector Pension Investment Board’s holdings in Snap-on were worth $3,527,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Credit Agricole S A bought a new position in shares of Snap-on during the 4th quarter valued at approximately $31,000. Quantbot Technologies LP purchased a new stake in Snap-on during the 4th quarter valued at $61,000. Whittier Trust Co. purchased a new stake in Snap-on during the 4th quarter valued at $65,000. Stonebridge Financial Planning Group LLC purchased a new stake in Snap-on during the 4th quarter valued at $76,000. Finally, TI Trust Inc. purchased a new stake in Snap-on during the 4th quarter valued at $102,000. Institutional investors and hedge funds own 95.70% of the company’s stock.

NYSE SNA traded up $2.90 during trading on Thursday, hitting $112.84. The company’s stock had a trading volume of 75,532 shares, compared to its average volume of 790,531. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.51 and a quick ratio of 1.71. The company has a market cap of $5.83 billion, a PE ratio of 9.14, a P/E/G ratio of 0.87 and a beta of 1.19. The business’s 50 day simple moving average is $140.24 and its 200-day simple moving average is $157.20. Snap-on Incorporated has a fifty-two week low of $90.72 and a fifty-two week high of $174.00.

Snap-on (NYSE:SNA) last announced its quarterly earnings data on Thursday, February 6th. The company reported $3.08 earnings per share (EPS) for the quarter, hitting the consensus estimate of $3.08. The firm had revenue of $955.20 million during the quarter, compared to analysts’ expectations of $965.58 million. Snap-on had a return on equity of 20.62% and a net margin of 18.59%. The company’s revenue for the quarter was up .3% compared to the same quarter last year. During the same period last year, the business posted $3.03 earnings per share. Analysts expect that Snap-on Incorporated will post 12.37 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Monday, February 24th were given a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.83%. The ex-dividend date of this dividend was Friday, February 21st. Snap-on’s dividend payout ratio (DPR) is presently 35.24%.

SNA has been the topic of several recent research reports. Longbow Research restated a “hold” rating on shares of Snap-on in a report on Wednesday. Barrington Research reiterated a “buy” rating and issued a $185.00 target price on shares of Snap-on in a research note on Friday, February 7th. Northcoast Research reissued a “neutral” rating on shares of Snap-on in a research report on Friday, February 7th. Robert W. Baird dropped their price target on Snap-on from $169.00 to $159.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 5th. Finally, ValuEngine raised Snap-on from a “sell” rating to a “hold” rating in a research report on Friday, March 13th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $171.60.

In other news, Director William Dudley Lehman sold 422 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $155.20, for a total value of $65,494.40. Following the completion of the sale, the director now directly owns 10,429 shares in the company, valued at $1,618,580.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Timothy L. Chambers sold 4,320 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $156.54, for a total value of $676,252.80. Following the completion of the sale, the senior vice president now owns 14,056 shares of the company’s stock, valued at $2,200,326.24. The disclosure for this sale can be found here. 4.20% of the stock is owned by insiders.

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 and Industrial Group, Snap-on Tools Group, and Repair Systems & Information Group segments. The company offers hand tools, including wrenches, sockets, ratchet wrenches, pliers, screwdrivers, punches and chisels, saws and cutting tools, pruning tools, torque measuring instruments, and other products; power tools, such as cordless, pneumatic, hydraulic, and corded tools; and tool storage products comprising tool chests, roll cabinets, and other products.

Further Reading: Net Margin – Understanding the Different Kinds of Profit

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

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