North Dakota State Investment Board Buys New Stake in Snap-On Incorporated $SNA

North Dakota State Investment Board bought a new stake in Snap-On Incorporated (NYSE:SNA) in the 4th quarter, Holdings Channel.com reports. The fund bought 1,756 shares of the company’s stock, valued at approximately $605,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Snap-On in the 4th quarter valued at approximately $25,000. GoalVest Advisory LLC purchased a new position in Snap-On in the 4th quarter valued at approximately $28,000. Montag A & Associates Inc. boosted its position in Snap-On by 331.8% in the 4th quarter. Montag A & Associates Inc. now owns 95 shares of the company’s stock valued at $33,000 after buying an additional 73 shares during the period. United Community Bank purchased a new position in Snap-On in the 4th quarter valued at approximately $43,000. Finally, MUFG Securities EMEA plc purchased a new position in Snap-On in the 2nd quarter valued at approximately $48,000. Institutional investors and hedge funds own 84.88% of the company’s stock.

Snap-On Price Performance

Shares of SNA opened at $362.44 on Friday. Snap-On Incorporated has a 1-year low of $301.82 and a 1-year high of $400.88. The stock has a market cap of $18.77 billion, a PE ratio of 18.71, a price-to-earnings-growth ratio of 2.56 and a beta of 0.75. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.53 and a quick ratio of 2.74. The firm has a fifty day moving average price of $370.79 and a 200 day moving average price of $362.90.

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

Snap-On Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Investors 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 dividend on an annualized basis and a yield of 2.7%. Snap-On’s payout ratio is 50.39%.

Snap-On declared that its board has approved a share repurchase plan on Thursday, April 30th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 2.6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

SNA has been the subject of several recent research reports. Tigress Financial raised their price target on shares of Snap-On from $405.00 to $445.00 and gave the company a “buy” rating in a research report on Friday, February 27th. Weiss Ratings reissued a “buy (b)” rating on shares of Snap-On in a research report on Monday, April 20th. Wall Street Zen cut shares of Snap-On from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. Roth Mkm reissued a “buy” rating and issued a $431.00 price target on shares of Snap-On in a research report on Friday, April 24th. Finally, Robert W. Baird raised their price target on shares of Snap-On from $380.00 to $395.00 and gave the company a “neutral” rating in a research report on Friday, April 24th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Snap-On currently has an average rating of “Moderate Buy” and a consensus target price of $381.20.

Insider Activity at Snap-On

In related news, CFO Aldo John Pagliari sold 5,713 shares of the business’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $367.19, for a total value of $2,097,756.47. Following the completion of the sale, the chief financial officer directly owned 119,488 shares of the company’s stock, valued at $43,874,798.72. The trade was a 4.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 business’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $375.77, for a total transaction of $8,791,514.92. Following the completion of the sale, the chief executive officer directly owned 856,918 shares of the company’s stock, valued at approximately $322,004,076.86. This trade represents a 2.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 53,716 shares of company stock valued at $20,328,412 over the last ninety days. Insiders own 3.80% of the company’s stock.

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.