Prescott Group Capital Management L.L.C. Purchases 6,000 Shares of Snap-On Incorporated $SNA

Prescott Group Capital Management L.L.C. boosted its stake in Snap-On Incorporated (NYSE:SNA) by 300.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,000 shares of the company’s stock after acquiring an additional 6,000 shares during the period. Prescott Group Capital Management L.L.C.’s holdings in Snap-On were worth $2,772,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of SNA. CENTRAL TRUST Co lifted its position in Snap-On by 17.6% in the 3rd quarter. CENTRAL TRUST Co now owns 481 shares of the company’s stock valued at $167,000 after acquiring an additional 72 shares in the last quarter. Abich Financial Wealth Management LLC purchased a new position in shares of Snap-On in the third quarter valued at about $303,000. Public Sector Pension Investment Board boosted its position in shares of Snap-On by 15.1% during the third quarter. Public Sector Pension Investment Board now owns 4,555 shares of the company’s stock worth $1,578,000 after acquiring an additional 598 shares during the last quarter. Illinois Municipal Retirement Fund grew its stake in Snap-On by 20.4% during the third quarter. Illinois Municipal Retirement Fund now owns 47,229 shares of the company’s stock valued at $16,366,000 after acquiring an additional 8,017 shares in the last quarter. Finally, Wedbush Securities Inc. increased its holdings in Snap-On by 15.0% in the 3rd quarter. Wedbush Securities Inc. now owns 3,792 shares of the company’s stock valued at $1,314,000 after acquiring an additional 494 shares during the last quarter. 84.88% of the stock is owned by hedge funds and other institutional investors.

Snap-On Stock Down 1.1%

NYSE:SNA opened at $378.65 on Friday. The company has a market cap of $19.69 billion, a price-to-earnings ratio of 19.73, a price-to-earnings-growth ratio of 2.63 and a beta of 0.81. Snap-On Incorporated has a twelve month low of $289.81 and a twelve month high of $390.13. The company has a current ratio of 4.79, a quick ratio of 3.68 and a debt-to-equity ratio of 0.20. The stock has a fifty day simple moving average of $359.68 and a 200-day simple moving average of $342.93.

Snap-On (NYSE:SNA) last issued its earnings results on Thursday, February 5th. The company reported $4.94 EPS for the quarter, topping analysts’ consensus estimates of $4.86 by $0.08. Snap-On had a net margin of 21.44% and a return on equity of 17.34%. The business had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.24 billion. During the same period last year, the company posted $4.82 earnings per share. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. Analysts anticipate that Snap-On Incorporated will post 19.79 EPS for the current year.

Snap-On Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 24th will be given a dividend of $2.44 per share. This represents a $9.76 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Tuesday, February 24th. Snap-On’s dividend payout ratio (DPR) is 50.86%.

Analyst Ratings Changes

Several research firms have commented on SNA. Wall Street Zen downgraded shares of Snap-On from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. Weiss Ratings reissued a “buy (b)” rating on shares of Snap-On in a research note on Wednesday, January 21st. Roth Mkm reaffirmed a “buy” rating and issued a $409.00 price objective (up previously from $385.00) on shares of Snap-On in a research note on Tuesday. Robert W. Baird set a $375.00 target price on Snap-On in a research report on Friday, February 6th. Finally, Tigress Financial raised their price objective on Snap-On from $395.00 to $405.00 and gave the company a “buy” rating in a research note on Tuesday, October 21st. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $370.67.

Insider Transactions at Snap-On

In other Snap-On news, CEO Nicholas T. Pinchuk sold 22,607 shares of the business’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $339.15, for a total value of $7,667,164.05. Following the completion of the transaction, the chief executive officer directly owned 826,364 shares in the company, valued at approximately $280,261,350.60. The trade was a 2.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Timothy L. Chambers sold 8,000 shares of the firm’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $385.13, for a total transaction of $3,081,040.00. Following the completion of the sale, the senior vice president owned 19,480 shares in the company, valued at $7,502,332.40. This represents a 29.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 48,036 shares of company stock worth $16,792,028. Company insiders own 3.90% of the company’s stock.

About Snap-On

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.