Candriam S.C.A. Sells 11,114 Shares of Snap-on Incorporated (NYSE:SNA)

Candriam S.C.A. lessened its holdings in Snap-on Incorporated (NYSE:SNA - Free Report) by 65.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,901 shares of the company's stock after selling 11,114 shares during the quarter. Candriam S.C.A.'s holdings in Snap-on were worth $2,003,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new stake in shares of Snap-on during the 4th quarter valued at approximately $148,839,000. Proficio Capital Partners LLC acquired a new stake in shares of Snap-on during the 4th quarter valued at approximately $57,738,000. Benjamin Edwards Inc. lifted its position in shares of Snap-on by 2,691.2% during the 3rd quarter. Benjamin Edwards Inc. now owns 158,092 shares of the company's stock valued at $45,810,000 after acquiring an additional 152,428 shares during the period. Nordea Investment Management AB lifted its position in shares of Snap-on by 12.8% during the 4th quarter. Nordea Investment Management AB now owns 1,128,317 shares of the company's stock valued at $384,813,000 after acquiring an additional 127,859 shares during the period. Finally, Bryn Mawr Capital Management LLC raised its position in shares of Snap-on by 706.3% during the 4th quarter. Bryn Mawr Capital Management LLC now owns 113,331 shares of the company's stock worth $38,474,000 after purchasing an additional 99,276 shares during the last quarter. Hedge funds and other institutional investors own 84.88% of the company's stock.

Snap-on Trading Down 0.8 %

Shares of NYSE SNA traded down $2.46 during trading on Thursday, hitting $323.15. 366,565 shares of the company traded hands, compared to its average volume of 327,228. Snap-on Incorporated has a 1 year low of $252.98 and a 1 year high of $373.90. The company has a 50-day moving average price of $341.84 and a 200-day moving average price of $329.10. The firm has a market capitalization of $16.93 billion, a P/E ratio of 16.57, a P/E/G 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.

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

Snap-on Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 24th were paid a dividend of $2.14 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $8.56 annualized dividend and a yield of 2.65%. Snap-on's dividend payout ratio (DPR) is 43.90%.

Insiders Place Their Bets

In related news, CFO Aldo John Pagliari sold 6,909 shares of the company's stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $347.62, for a total value of $2,401,706.58. Following the completion of the sale, the chief financial officer now owns 100,668 shares in the company, valued at approximately $34,994,210.16. This represents a 6.42 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jesus Arregui sold 6,451 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $337.81, for a total transaction of $2,179,212.31. Following the completion of the sale, the senior vice president now owns 257 shares of the company's stock, valued at approximately $86,817.17. The trade was a 96.17 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,220 shares of company stock worth $6,906,802. Insiders own 4.10% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on SNA. Tigress Financial lifted their price objective on Snap-on from $385.00 to $390.00 and gave the stock a "buy" rating in a research report on Tuesday, March 4th. Barrington Research reiterated an "outperform" rating and issued a $350.00 price target 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 given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $346.40.

Snap-on Profile

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.