Rice Hall James & Associates LLC Acquires New Stake in Snap-On Incorporated (SNA)

Rice Hall James & Associates LLC acquired a new stake in shares of Snap-On Incorporated (NYSE:SNA) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 14,054 shares of the company’s stock, valued at approximately $2,094,000.

A number of other hedge funds have also recently bought and sold shares of the business. Cadence Capital Management LLC increased its position in Snap-On by 0.4% during the second quarter. Cadence Capital Management LLC now owns 1,891 shares of the company’s stock valued at $299,000 after acquiring an additional 8 shares during the last quarter. Doyle Wealth Management increased its position in Snap-On by 0.3% during the second quarter. Doyle Wealth Management now owns 3,996 shares of the company’s stock valued at $631,000 after acquiring an additional 13 shares during the last quarter. Ameritas Investment Partners Inc. increased its position in Snap-On by 1.7% during the second quarter. Ameritas Investment Partners Inc. now owns 1,411 shares of the company’s stock valued at $222,000 after acquiring an additional 23 shares during the last quarter. Commonwealth Bank of Australia increased its position in Snap-On by 4.4% during the second quarter. Commonwealth Bank of Australia now owns 1,085 shares of the company’s stock valued at $171,000 after acquiring an additional 46 shares during the last quarter. Finally, Synovus Financial Corp increased its position in Snap-On by 3.5% during the second quarter. Synovus Financial Corp now owns 1,548 shares of the company’s stock valued at $247,000 after acquiring an additional 53 shares during the last quarter. Institutional investors and hedge funds own 94.96% of the company’s stock.

Snap-On Incorporated (SNA) opened at $158.22 on Friday. The firm has a market capitalization of $9,035.64, a P/E ratio of 15.99, a PEG ratio of 1.47 and a beta of 1.12. The company has a current ratio of 1.75, a quick ratio of 1.22 and a debt-to-equity ratio of 0.26.

Snap-On (NYSE:SNA) last announced its quarterly earnings results on Thursday, October 19th. The company reported $2.45 EPS for the quarter, topping analysts’ consensus estimates of $2.43 by $0.02. Snap-On had a net margin of 15.95% and a return on equity of 20.82%. The firm had revenue of $903.80 million during the quarter, compared to analyst estimates of $889.22 million. During the same period in the previous year, the business posted $2.22 earnings per share. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. equities analysts forecast that Snap-On Incorporated will post 10.09 EPS for the current fiscal year.

Snap-On announced that its Board of Directors has approved a share repurchase program on Monday, August 7th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

SNA has been the topic of a number of analyst reports. FBR & Co set a $205.00 price objective on shares of Snap-On and gave the company a “buy” rating in a research report on Friday, July 21st. Zacks Investment Research cut shares of Snap-On from a “hold” rating to a “sell” rating in a research report on Wednesday, September 20th. BidaskClub cut shares of Snap-On from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 12th. Longbow Research cut shares of Snap-On from a “buy” rating to a “neutral” rating in a research report on Monday, August 21st. Finally, Oppenheimer Holdings, Inc. restated a “buy” rating and issued a $177.00 price target on shares of Snap-On in a report on Thursday, October 19th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company’s stock. Snap-On currently has an average rating of “Hold” and an average target price of $192.00.

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About Snap-On

Snap-on Incorporated is a manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions. The Company’s segments include the Commercial & Industrial Group, the Snap-on Tools Group, the Repair Systems & Information Group, and Financial Services. The Commercial & Industrial Group consists of business operations serving a range of industrial and commercial customers, including customers in the aerospace, natural resources, government, power generation, transportation and technical education markets.

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

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