Fenimore Asset Management Inc. Raises Holdings in Snap-on Incorporated (NYSE:SNA)

Fenimore Asset Management Inc. lifted its position in shares of Snap-on Incorporated (NYSE:SNA) by 3.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 329,650 shares of the company’s stock after purchasing an additional 9,655 shares during the period. Snap-on accounts for 1.8% of Fenimore Asset Management Inc.’s portfolio, making the stock its 21st largest holding. Fenimore Asset Management Inc. owned 0.59% of Snap-on worth $54,603,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in SNA. BlackRock Inc. increased its stake in shares of Snap-on by 21.0% in the first quarter. BlackRock Inc. now owns 5,476,063 shares of the company’s stock worth $857,113,000 after buying an additional 950,400 shares during the period. KCL Capital L.P. purchased a new stake in shares of Snap-on in the 1st quarter worth about $12,122,000. FMR LLC lifted its stake in Snap-on by 2.1% during the 1st quarter. FMR LLC now owns 884,058 shares of the company’s stock valued at $138,372,000 after acquiring an additional 18,291 shares during the period. Geode Capital Management LLC increased its position in shares of Snap-on by 8.6% during the 4th quarter. Geode Capital Management LLC now owns 870,603 shares of the company’s stock valued at $126,307,000 after purchasing an additional 69,020 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Snap-on by 12.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 821,268 shares of the company’s stock valued at $119,321,000 after purchasing an additional 91,309 shares during the last quarter.

Shares of Snap-on stock opened at $144.02 on Friday. The firm has a market cap of $8.36 billion, a P/E ratio of 12.19, a P/E/G ratio of 1.47 and a beta of 1.25. The company has a current ratio of 2.48, a quick ratio of 1.70 and a debt-to-equity ratio of 0.30. Snap-on Incorporated has a 12 month low of $135.29 and a 12 month high of $189.46. The stock’s fifty day moving average price is $155.71 and its 200-day moving average price is $159.51.

Snap-on (NYSE:SNA) last announced its quarterly earnings results on Thursday, July 18th. The company reported $3.22 EPS for the quarter, beating the consensus estimate of $3.21 by $0.01. The firm had revenue of $951.30 million for the quarter, compared to analyst estimates of $959.33 million. Snap-on had a return on equity of 21.40% and a net margin of 18.70%. The business’s revenue for the quarter was down .3% on a year-over-year basis. During the same quarter last year, the firm posted $3.11 earnings per share. Analysts forecast that Snap-on Incorporated will post 12.31 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 20th will be paid a $0.95 dividend. The ex-dividend date of this dividend is Monday, August 19th. This represents a $3.80 annualized dividend and a yield of 2.64%. Snap-on’s dividend payout ratio (DPR) is presently 32.18%.

SNA has been the subject of several analyst reports. Northcoast Research reissued a “neutral” rating on shares of Snap-on in a report on Friday, May 17th. Barrington Research reissued a “buy” rating and issued a $185.00 target price on shares of Snap-on in a report on Wednesday, May 29th. Longbow Research reaffirmed a “hold” rating on shares of Snap-on in a report on Monday, July 1st. ValuEngine lowered shares of Snap-on from a “hold” rating to a “sell” rating in a report on Friday, July 19th. Finally, Tigress Financial reiterated a “buy” rating on shares of Snap-on in a research report on Wednesday, July 24th. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $172.60.

In other Snap-on news, SVP Anup R. Banerjee sold 2,800 shares of Snap-on stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $150.40, for a total value of $421,120.00. Following the transaction, the senior vice president now owns 128 shares in the company, valued at $19,251.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Nicholas T. Pinchuk sold 19,403 shares of Snap-on stock in a transaction dated Wednesday, June 19th. The shares were sold at an average price of $164.60, for a total value of $3,193,733.80. The disclosure for this sale can be found here. 3.90% of the stock is owned by insiders.

Snap-on Company Profile

Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. It operates through Commercial and Industrial Group, Snap-on Tools Group, and Repair Systems & Information Group segments. The company offers hand tools, including wrenches, sockets, ratchet wrenches, pliers, screwdrivers, punches and chisels, saws and cutting tools, pruning tools, torque measuring instruments, and other products; power tools, such as cordless, pneumatic, hydraulic, and corded tools; and tool storage products comprising tool chests, roll cabinets, and other products.

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

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