Denali Advisors LLC Purchases New Holdings in Snap-on Incorporated (NYSE:SNA)

Denali Advisors LLC purchased a new position in shares of Snap-on Incorporated (NYSE:SNA - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 2,509 shares of the company's stock, valued at approximately $852,000.

Several other hedge funds also recently made changes to their positions in SNA. Benjamin Edwards Inc. grew its position in Snap-on by 2,691.2% in the 3rd quarter. Benjamin Edwards Inc. now owns 158,092 shares of the company's stock valued at $45,810,000 after buying an additional 152,428 shares in the last quarter. Nordea Investment Management AB boosted its position in Snap-on by 12.8% during the fourth quarter. Nordea Investment Management AB now owns 1,128,317 shares of the company's stock valued at $384,813,000 after purchasing an additional 127,859 shares during the last quarter. Bryn Mawr Capital Management LLC raised its holdings in Snap-on by 706.3% during the fourth quarter. Bryn Mawr Capital Management LLC now owns 113,331 shares of the company's stock valued at $38,474,000 after buying an additional 99,276 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its holdings in Snap-on by 45.4% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 257,450 shares of the company's stock valued at $74,586,000 after acquiring an additional 80,421 shares during the period. Finally, Pacer Advisors Inc. lifted its stake in shares of Snap-on by 9.4% in the third quarter. Pacer Advisors Inc. now owns 907,655 shares of the company's stock valued at $262,957,000 after buying an additional 78,184 shares during the period. Institutional investors and hedge funds own 84.88% of the company's stock.

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Insider Activity at Snap-on

In related news, CEO Nicholas T. Pinchuk sold 21,783 shares of the firm's 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 sale, the chief executive officer now owns 769,738 shares of the company's stock, valued at $273,126,134.54. This trade represents a 2.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Aldo John Pagliari sold 6,909 shares of the company's stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $347.62, for a total value of $2,401,706.58. Following the transaction, the chief financial officer now directly owns 100,668 shares in the company, valued at $34,994,210.16. The trade was a 6.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 45,503 shares of company stock valued at $15,906,074 over the last ninety days. 4.10% of the stock is owned by corporate insiders.

Snap-on Stock Up 1.2 %

Shares of NYSE SNA traded up $4.08 during trading hours on Friday, hitting $341.00. The company had a trading volume of 370,264 shares, compared to its average volume of 387,145. The stock has a market capitalization of $17.87 billion, a P/E ratio of 17.49, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99. The company has a quick ratio of 3.17, a current ratio of 4.15 and a debt-to-equity ratio of 0.22. The firm's 50 day moving average is $343.25 and its 200-day moving average is $325.92. Snap-on Incorporated has a 1-year low of $252.98 and a 1-year high of $373.89.

Snap-on (NYSE:SNA - Get Free Report) last posted its earnings results on Thursday, February 6th. The company reported $4.82 EPS for the quarter, beating the consensus estimate of $4.78 by $0.04. Snap-on had a return on equity of 19.20% and a net margin of 21.71%. During the same period in the prior year, the business earned $4.75 EPS. On average, analysts expect that Snap-on Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-on Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 24th will be paid a dividend of $2.14 per share. This represents a $8.56 annualized dividend and a yield of 2.51%. The ex-dividend date is Monday, February 24th. Snap-on's payout ratio is presently 43.90%.

Wall Street Analyst Weigh In

Separately, Barrington Research reissued an "outperform" rating and set a $350.00 price objective on shares of Snap-on in a report on Monday, February 10th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target 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.