Albert D Mason Inc. Raises Holdings in Snap-on Incorporated (NYSE:SNA)

Albert D Mason Inc. grew its stake in Snap-on Incorporated (NYSE:SNA) by 0.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,306 shares of the company’s stock after purchasing an additional 43 shares during the period. Snap-on makes up about 2.1% of Albert D Mason Inc.’s portfolio, making the stock its 3rd biggest position. Albert D Mason Inc.’s holdings in Snap-on were worth $3,159,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of SNA. Reston Wealth Management LLC purchased a new position in shares of Snap-on during the 3rd quarter worth about $30,000. Massmutual Trust Co. FSB ADV lifted its stake in Snap-on by 53.0% in the third quarter. Massmutual Trust Co. FSB ADV now owns 127 shares of the company’s stock worth $37,000 after purchasing an additional 44 shares during the last quarter. Brooklyn Investment Group purchased a new position in shares of Snap-on during the third quarter valued at approximately $39,000. Quarry LP grew its stake in shares of Snap-on by 244.7% during the second quarter. Quarry LP now owns 162 shares of the company’s stock valued at $42,000 after buying an additional 115 shares during the last quarter. Finally, nVerses Capital LLC purchased a new stake in shares of Snap-on in the third quarter worth approximately $58,000. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Snap-on Price Performance

SNA opened at $348.17 on Friday. The company has a market capitalization of $18.28 billion, a price-to-earnings ratio of 17.92, a PEG ratio of 2.09 and a beta of 1.00. The company has a current ratio of 4.18, a quick ratio of 3.14 and a debt-to-equity ratio of 0.22. Snap-on Incorporated has a 12-month low of $252.98 and a 12-month high of $373.89. The business’s fifty day simple moving average is $351.33 and its 200-day simple moving average is $310.00.

Snap-on (NYSE:SNA) last issued its earnings results on Thursday, October 17th. The company reported $4.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.58 by $0.12. The company had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Snap-on had a net margin of 22.13% and a return on equity of 19.44%. On average, equities research analysts anticipate that Snap-on Incorporated will post 19.05 earnings per share for the current fiscal year.

Snap-on Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Thursday, November 21st were paid a dividend of $2.14 per share. The ex-dividend date of this dividend was Thursday, November 21st. This is an increase from Snap-on’s previous quarterly dividend of $1.86. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.46%. Snap-on’s dividend payout ratio (DPR) is currently 44.06%.

Insider Activity at Snap-on

In other Snap-on news, SVP Thomas J. Ward sold 12,737 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $333.21, for a total transaction of $4,244,095.77. Following the completion of the sale, the senior vice president now directly owns 55,401 shares of the company’s stock, valued at approximately $18,460,167.21. This represents a 18.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 21,783 shares of Snap-on stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $354.83, for a total transaction of $7,729,261.89. Following the completion of the transaction, the chief executive officer now directly owns 769,738 shares in the company, valued at approximately $273,126,134.54. The trade was a 2.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 44,929 shares of company stock valued at $15,645,074 over the last ninety days. 4.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on SNA shares. Roth Mkm boosted their price objective on Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Bank of America boosted their target price on shares of Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a research note on Friday, October 18th. Barrington Research raised their price target on shares of Snap-on from $325.00 to $350.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Tigress Financial lifted their price objective on shares of Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a report on Friday, October 25th. Finally, Robert W. Baird upped their target price on shares of Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $345.40.

About Snap-on

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.