Allstate Corp Raises Position in Snap-On Incorporated $SNA

Allstate Corp raised its holdings in shares of Snap-On Incorporated (NYSE:SNA) by 101.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,629 shares of the company’s stock after acquiring an additional 1,831 shares during the quarter. Allstate Corp’s holdings in Snap-On were worth $1,251,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of the business. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Snap-On during the 4th quarter worth about $25,000. GoalVest Advisory LLC bought a new position in shares of Snap-On during the 4th quarter worth approximately $28,000. Montag A & Associates Inc. increased its stake in Snap-On by 331.8% during the 4th quarter. Montag A & Associates Inc. now owns 95 shares of the company’s stock valued at $33,000 after purchasing an additional 73 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC increased its stake in Snap-On by 36.4% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 105 shares of the company’s stock valued at $36,000 after purchasing an additional 28 shares in the last quarter. Finally, United Community Bank acquired a new position in Snap-On during the 4th quarter valued at approximately $43,000. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Roth Mkm reissued a “buy” rating and set a $431.00 price target on shares of Snap-On in a report on Friday, April 24th. Robert W. Baird increased their price target on shares of Snap-On from $380.00 to $395.00 and gave the stock a “neutral” rating in a report on Friday, April 24th. Tigress Financial increased their price target on shares of Snap-On from $405.00 to $445.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Wall Street Zen downgraded shares of Snap-On from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Snap-On in a report on Monday, April 20th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $387.67.

Insider Activity at Snap-On

In other news, CFO Aldo John Pagliari sold 5,713 shares of the stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $367.19, for a total transaction of $2,097,756.47. Following the completion of the transaction, the chief financial officer directly owned 119,488 shares in the company, valued at approximately $43,874,798.72. This represents a 4.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Nicholas T. Pinchuk sold 23,396 shares of the firm’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $375.77, for a total value of $8,791,514.92. Following the transaction, the chief executive officer owned 856,918 shares in the company, valued at $322,004,076.86. This trade represents a 2.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.80% of the stock is owned by company insiders.

Snap-On Stock Performance

Shares of SNA opened at $371.75 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.74 and a current ratio of 3.53. The stock has a market capitalization of $19.26 billion, a P/E ratio of 19.19, a P/E/G ratio of 2.63 and a beta of 0.75. The company’s fifty day moving average is $371.30 and its two-hundred day moving average is $364.00. Snap-On Incorporated has a 1 year low of $301.82 and a 1 year high of $400.88.

Snap-On (NYSE:SNA) last issued its earnings results on Thursday, April 23rd. The company reported $4.69 EPS for the quarter, missing the consensus estimate of $4.75 by ($0.06). Snap-On had a return on equity of 17.13% and a net margin of 21.28%.The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the previous year, the firm posted $4.51 earnings per share. Snap-On’s revenue for the quarter was up 5.8% on a year-over-year basis. On average, sell-side analysts predict that Snap-On Incorporated will post 19.7 earnings per share for the current year.

Snap-On Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th will be given a $2.44 dividend. The ex-dividend date of this dividend is Wednesday, May 20th. This represents a $9.76 annualized dividend and a yield of 2.6%. Snap-On’s dividend payout ratio (DPR) is 50.39%.

Snap-On declared that its board has initiated a share repurchase program on Thursday, April 30th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 2.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Snap-On Profile

Snap‑On Incorporated (NYSE: SNA) is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company’s product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap‑On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.

Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap‑On has established a long history in the professional tools market.