Retirement Systems of Alabama increased its stake in shares of Snap-On Inc. (NYSE:SNA) by 0.5% during the second quarter, Holdings Channel reports. The fund owned 29,643 shares of the company’s stock after buying an additional 158 shares during the period. Retirement Systems of Alabama’s holdings in Snap-On were worth $4,678,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. SevenBridge Financial Group LLC acquired a new stake in shares of Snap-On during the first quarter worth approximately $184,000. ING Groep NV acquired a new stake in shares of Snap-On during the first quarter worth approximately $213,000. Wealthsource Partners LLC acquired a new stake in shares of Snap-On during the first quarter worth approximately $262,000. Meeder Asset Management Inc. raised its stake in shares of Snap-On by 451.9% in the second quarter. Meeder Asset Management Inc. now owns 1,700 shares of the company’s stock worth $269,000 after buying an additional 1,392 shares during the period. Finally, Fox Run Management L.L.C. acquired a new stake in shares of Snap-On during the second quarter worth approximately $284,000. 84.72% of the stock is currently owned by institutional investors.
Shares of Snap-On Inc. (NYSE:SNA) traded up 0.93% during mid-day trading on Friday, hitting $147.33. The company’s stock had a trading volume of 510,741 shares. The stock’s 50 day moving average price is $150.42 and its 200 day moving average price is $156.14. The company has a market cap of $8.56 billion, a price-to-earnings ratio of 16.89 and a beta of 1.23. Snap-On Inc. has a 52-week low of $133.09 and a 52-week high of $174.52.
Snap-On (NYSE:SNA) last posted its quarterly earnings results on Thursday, July 21st. The company reported $2.36 earnings per share for the quarter, topping the consensus estimate of $2.23 by $0.13. The company had revenue of $872.30 million for the quarter, compared to the consensus estimate of $876.70 million. Snap-On had a return on equity of 20.78% and a net margin of 15.28%. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.03 EPS. Equities analysts forecast that Snap-On Inc. will post $9.09 EPS for the current year.
A number of brokerages recently commented on SNA. Zacks Investment Research lowered Snap-On from a “hold” rating to a “sell” rating in a report on Tuesday, September 27th. Robert W. Baird reiterated a “buy” rating on shares of Snap-On in a report on Tuesday, June 28th. Finally, CL King began coverage on Snap-On in a report on Monday, June 27th. They set a “buy” rating and a $174.00 price target on the stock. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $175.07.
In related news, SVP Thomas L. Kassouf sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $153.29, for a total value of $306,580.00. Following the sale, the senior vice president now owns 26,612 shares in the company, valued at approximately $4,079,353.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Iain Boyd sold 3,500 shares of the company’s stock in a transaction that occurred on Tuesday, July 26th. The stock was sold at an average price of $157.97, for a total value of $552,895.00. The disclosure for this sale can be found here. 3.40% of the stock is owned by corporate insiders.
Snap-On Incorporated is a manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions for professional users. The Company’s segments include Commercial & Industrial Group, the Snap-on Tools Group, the Repair Systems & Information Group and Financial Services. Its Commercial & Industrial Group segment consists of business operations serving a range of industrial and commercial customers across the world.
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