Yousif Capital Management LLC Cuts Holdings in Snap-on Incorporated (NYSE:SNA)

Yousif Capital Management LLC decreased its stake in Snap-on Incorporated (NYSE:SNA) by 2.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,763 shares of the company’s stock after selling 140 shares during the period. Yousif Capital Management LLC’s holdings in Snap-on were worth $2,279,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in SNA. SBI Securities Co. Ltd. purchased a new stake in Snap-on during the fourth quarter valued at about $26,000. CoreFirst Bank & Trust purchased a new position in shares of Snap-on during the 4th quarter valued at about $40,000. TCTC Holdings LLC raised its holdings in shares of Snap-on by 41.3% during the 4th quarter. TCTC Holdings LLC now owns 147 shares of the company’s stock valued at $50,000 after buying an additional 43 shares in the last quarter. Mizuho Bank Ltd. bought a new stake in Snap-on in the 4th quarter worth approximately $61,000. Finally, Orion Capital Management LLC purchased a new stake in Snap-on in the fourth quarter worth approximately $65,000. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Insider Activity at Snap-on

In other Snap-on news, CEO Nicholas T. Pinchuk sold 22,700 shares of the company’s stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $335.32, for a total transaction of $7,611,764.00. Following the transaction, the chief executive officer now owns 793,932 shares in the company, valued at approximately $266,221,278.24. This represents a 2.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Aldo John Pagliari sold 5,553 shares of the firm’s stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $326.84, for a total value of $1,814,942.52. Following the completion of the transaction, the chief financial officer now owns 109,560 shares of the company’s stock, valued at approximately $35,808,590.40. The trade was a 4.82% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 52,515 shares of company stock worth $17,094,296 over the last quarter. Corporate insiders own 3.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on SNA shares. Wall Street Zen upgraded shares of Snap-on from a “hold” rating to a “buy” rating in a report on Friday, May 16th. Tigress Financial boosted their price target on shares of Snap-on from $385.00 to $390.00 and gave the stock a “buy” rating in a research note on Tuesday, March 4th. Barrington Research reaffirmed an “outperform” rating and set a $350.00 price objective on shares of Snap-on in a research note on Monday, May 19th. Robert W. Baird decreased their price objective on Snap-on from $349.00 to $320.00 and set a “neutral” rating on the stock in a report on Monday, April 21st. Finally, Longbow Research upgraded Snap-on from a “neutral” rating to a “buy” rating and set a $400.00 target price for the company in a report on Monday, March 31st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $350.83.

Snap-on Stock Performance

Shares of NYSE:SNA opened at $309.86 on Friday. The company has a current ratio of 4.15, a quick ratio of 3.17 and a debt-to-equity ratio of 0.22. The company has a 50-day moving average price of $319.15 and a 200-day moving average price of $334.05. The company has a market cap of $16.20 billion, a price-to-earnings ratio of 15.89, a price-to-earnings-growth ratio of 2.21 and a beta of 0.78. Snap-on Incorporated has a 12 month low of $252.98 and a 12 month high of $373.90.

Snap-on (NYSE:SNA) last announced its quarterly earnings results on Thursday, April 17th. The company reported $4.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.81 by ($0.30). Snap-on had a net margin of 21.71% and a return on equity of 19.20%. The business had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter in the prior year, the firm earned $4.91 EPS. As a group, equities analysts anticipate that Snap-on Incorporated will post 19.79 EPS for the current year.

Snap-on Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Tuesday, May 20th were issued a dividend of $2.14 per share. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.76%. Snap-on’s dividend payout ratio is presently 44.82%.

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.