Snap-On (NYSE:SNA – Get Free Report) announced its quarterly earnings results on Thursday. The company reported $4.96 EPS for the quarter, beating analysts’ consensus estimates of $4.95 by $0.01, FiscalAI reports. Snap-On had a return on equity of 17.13% and a net margin of 21.28%.The company had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same period in the prior year, the company earned $4.72 EPS. Snap-On’s revenue was up 4.7% compared to the same quarter last year.
Snap-On Stock Up 0.5%
Shares of NYSE SNA traded up $1.85 during trading on Thursday, hitting $408.02. 41,396 shares of the company traded hands, compared to its average volume of 367,939. The business’s fifty day moving average is $388.08 and its 200 day moving average is $377.89. Snap-On has a fifty-two week low of $312.78 and a fifty-two week high of $419.68. The firm has a market capitalization of $21.14 billion, a price-to-earnings ratio of 21.09, a P/E/G ratio of 2.84 and a beta of 0.73. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.74 and a current ratio of 3.53.
Snap-On Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th were paid a $2.44 dividend. This represents a $9.76 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Wednesday, May 20th. Snap-On’s payout ratio is 50.39%.
Analyst Ratings Changes
Get Our Latest Report on Snap-On
Snap-On announced that its board has authorized a stock repurchase plan on Thursday, April 30th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to purchase up to 2.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
Insider Activity at Snap-On
In other news, SVP Jesus Arregui sold 4,251 shares of the firm’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $383.92, for a total value of $1,632,043.92. Following the completion of the sale, the senior vice president directly owned 4,439 shares in the company, valued at $1,704,220.88. This trade represents a 48.92% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Richard Thomas Miller sold 2,000 shares of the business’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $405.92, for a total value of $811,840.00. Following the completion of the sale, the vice president directly owned 4,529 shares of the company’s stock, valued at $1,838,411.68. The trade was a 30.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 37,117 shares of company stock worth $14,003,922 over the last quarter. Company insiders own 3.80% of the company’s stock.
Institutional Trading of Snap-On
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Snap-On by 15.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,850 shares of the company’s stock valued at $2,983,000 after acquiring an additional 1,185 shares in the last quarter. Woodline Partners LP lifted its holdings in shares of Snap-On by 40.4% in the first quarter. Woodline Partners LP now owns 4,426 shares of the company’s stock valued at $1,492,000 after purchasing an additional 1,273 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in Snap-On by 100.9% during the second quarter. EverSource Wealth Advisors LLC now owns 464 shares of the company’s stock worth $144,000 after buying an additional 233 shares in the last quarter. Gamco Investors INC. ET AL boosted its holdings in Snap-On by 32.9% during the 2nd quarter. Gamco Investors INC. ET AL now owns 1,752 shares of the company’s stock worth $545,000 after acquiring an additional 434 shares during the last quarter. Finally, Natixis lifted its position in shares of Snap-On by 136.8% during the 2nd quarter. Natixis now owns 3,048 shares of the company’s stock worth $948,000 after buying an additional 1,761 shares in the last quarter. Institutional investors own 84.88% of the company’s stock.
About Snap-On
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.
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