Investors Buy High Volume of Put Options on Snap-On (SNA)

Snap-On Incorporated (NYSE:SNA) was the target of some unusual options trading on Tuesday. Investors acquired 1,360 put options on the company. This represents an increase of approximately 878% compared to the typical volume of 139 put options.

Shares of Snap-On (NYSE:SNA) opened at $175.55 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.22 and a current ratio of 1.75. The company has a market capitalization of $9,825.19, a price-to-earnings ratio of 17.39, a P/E/G ratio of 1.42 and a beta of 1.14. Snap-On has a 52 week low of $140.83 and a 52 week high of $181.73.

Snap-On (NYSE:SNA) last posted its quarterly earnings data on Thursday, October 19th. The company reported $2.45 EPS for the quarter, beating analysts’ consensus estimates of $2.43 by $0.02. The business had revenue of $903.80 million for the quarter, compared to analyst estimates of $889.22 million. Snap-On had a return on equity of 20.82% and a net margin of 15.95%. The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter last year, the company earned $2.22 earnings per share. research analysts expect that Snap-On will post 10.09 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 8th. Investors of record on Friday, November 17th were paid a dividend of $0.82 per share. The ex-dividend date was Thursday, November 16th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.87%. This is a positive change from Snap-On’s previous quarterly dividend of $0.71. Snap-On’s dividend payout ratio (DPR) is presently 33.64%.

A number of research analysts have recently weighed in on the company. Zacks Investment Research upgraded Snap-On from a “hold” rating to a “buy” rating and set a $193.00 price target for the company in a research report on Wednesday. Barrington Research upgraded Snap-On from a “market perform” rating to an “outperform” rating and set a $185.00 price target for the company in a research report on Monday, October 23rd. B. Riley restated a “buy” rating on shares of Snap-On in a research report on Wednesday, November 1st. Jefferies Group restated a “hold” rating and issued a $175.00 price target on shares of Snap-On in a research report on Friday, November 3rd. Finally, Oppenheimer restated a “buy” rating and issued a $177.00 price target on shares of Snap-On in a research report on Thursday, October 19th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company. Snap-On presently has an average rating of “Buy” and a consensus price target of $192.13.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Koch Industries Inc. boosted its stake in Snap-On by 64,484.7% in the 2nd quarter. Koch Industries Inc. now owns 917,748 shares of the company’s stock worth $912,000 after buying an additional 916,327 shares during the last quarter. Schroder Investment Management Group boosted its stake in Snap-On by 59.2% in the 2nd quarter. Schroder Investment Management Group now owns 1,136,354 shares of the company’s stock worth $177,850,000 after buying an additional 422,366 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Snap-On by 1,814.9% in the 2nd quarter. Renaissance Technologies LLC now owns 436,600 shares of the company’s stock worth $68,983,000 after buying an additional 413,800 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Snap-On by 153.0% in the 2nd quarter. Principal Financial Group Inc. now owns 649,609 shares of the company’s stock worth $102,639,000 after buying an additional 392,816 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. boosted its stake in Snap-On by 107.4% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 694,612 shares of the company’s stock worth $103,506,000 after buying an additional 359,772 shares during the last quarter. 99.40% of the stock is currently owned by institutional investors and hedge funds.

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Snap-On Company Profile

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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