OLD Mutual Customised Solutions Proprietary Ltd. Sells 500 Shares of Snap-on Incorporated (SNA)

OLD Mutual Customised Solutions Proprietary Ltd. reduced its holdings in Snap-on Incorporated (NYSE:SNA) by 13.2% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 3,300 shares of the company’s stock after selling 500 shares during the quarter. OLD Mutual Customised Solutions Proprietary Ltd.’s holdings in Snap-on were worth $530,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of the company. BlackRock Inc. increased its holdings in shares of Snap-on by 1.4% in the 2nd quarter. BlackRock Inc. now owns 3,855,275 shares of the company’s stock worth $619,621,000 after acquiring an additional 53,689 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Snap-on by 3.4% in the 1st quarter. Principal Financial Group Inc. now owns 1,048,534 shares of the company’s stock worth $154,702,000 after acquiring an additional 34,012 shares during the period. Earnest Partners LLC increased its holdings in shares of Snap-on by 3.8% in the 2nd quarter. Earnest Partners LLC now owns 1,020,188 shares of the company’s stock worth $163,965,000 after acquiring an additional 37,244 shares during the period. Northern Trust Corp increased its holdings in shares of Snap-on by 0.8% in the 1st quarter. Northern Trust Corp now owns 957,476 shares of the company’s stock worth $141,266,000 after acquiring an additional 8,067 shares during the period. Finally, Ariel Investments LLC increased its holdings in shares of Snap-on by 10.0% in the 2nd quarter. Ariel Investments LLC now owns 929,933 shares of the company’s stock worth $149,459,000 after acquiring an additional 84,287 shares during the period.

A number of research firms recently weighed in on SNA. Zacks Investment Research cut shares of Snap-on from a “hold” rating to a “sell” rating in a report on Monday, July 2nd. Barrington Research reaffirmed a “buy” rating on shares of Snap-on in a report on Monday, July 16th. ValuEngine raised shares of Snap-on from a “sell” rating to a “hold” rating in a report on Saturday, June 16th. Northcoast Research cut shares of Snap-on from a “buy” rating to a “neutral” rating in a research note on Tuesday, July 24th. Finally, B. Riley set a $205.00 target price on shares of Snap-on and gave the company a “buy” rating in a research note on Tuesday, July 17th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $192.75.

Snap-on stock opened at $186.42 on Monday. The stock has a market cap of $10.52 billion, a price-to-earnings ratio of 18.42, a P/E/G ratio of 1.53 and a beta of 1.17. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.60 and a current ratio of 2.33. Snap-on Incorporated has a 52 week low of $141.63 and a 52 week high of $187.83.

Snap-on (NYSE:SNA) last released its earnings results on Thursday, July 19th. The company reported $3.11 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.95 by $0.16. The firm had revenue of $954.60 million for the quarter, compared to analysts’ expectations of $952.04 million. Snap-on had a net margin of 16.04% and a return on equity of 21.04%. Snap-on’s quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter last year, the company earned $2.60 EPS. research analysts forecast that Snap-on Incorporated will post 11.8 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, September 10th. Shareholders of record on Friday, August 17th were paid a dividend of $0.82 per share. The ex-dividend date of this dividend was Thursday, August 16th. This represents a $3.28 annualized dividend and a yield of 1.76%. Snap-on’s payout ratio is 32.41%.

In other news, CEO Nicholas T. Pinchuk sold 21,921 shares of Snap-on stock in a transaction that occurred on Tuesday, June 19th. The shares were sold at an average price of $157.88, for a total value of $3,460,887.48. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Aldo John Pagliari sold 6,480 shares of Snap-on stock in a transaction that occurred on Wednesday, August 22nd. The stock was sold at an average price of $177.89, for a total transaction of $1,152,727.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 89,816 shares of company stock worth $15,120,752. 4.00% of the stock is owned by corporate insiders.

Snap-on Profile

Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. The company operates through Commercial & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.

Further Reading: Earnings Per Share

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

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