KCL Capital L.P. purchased a new position in Snap-on Incorporated (NYSE:SNA) during the first quarter, HoldingsChannel.com reports. The firm purchased 1,100,000 shares of the company’s stock, valued at approximately $12,122,000. Snap-on accounts for approximately 3.3% of KCL Capital L.P.’s portfolio, making the stock its 13th largest position.
A number of other institutional investors and hedge funds also recently modified their holdings of SNA. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in Snap-on by 17.7% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 509,236 shares of the company’s stock worth $79,706,000 after purchasing an additional 76,709 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its position in Snap-on by 0.8% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 628,967 shares of the company’s stock worth $98,446,000 after buying an additional 5,000 shares during the period. MARSHALL WACE ASIA Ltd bought a new position in Snap-on in the 1st quarter worth approximately $614,000. SRB Corp increased its position in Snap-on by 30.2% in the 1st quarter. SRB Corp now owns 4,503 shares of the company’s stock worth $704,000 after buying an additional 1,044 shares during the period. Finally, GYL Financial Synergies LLC bought a new position in Snap-on in the 1st quarter worth approximately $825,000.
In other Snap-on news, SVP Thomas J. Ward sold 21,000 shares of the company’s stock in a transaction on Thursday, April 18th. The stock was sold at an average price of $169.75, for a total value of $3,564,750.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Nicholas T. Pinchuk sold 11,783 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $156.68, for a total value of $1,846,160.44. The disclosure for this sale can be found here. Insiders own 3.90% of the company’s stock.
Shares of SNA traded down $1.08 on Friday, reaching $164.09. 304,807 shares of the stock traded hands, compared to its average volume of 386,799. The stock has a market cap of $9.12 billion, a PE ratio of 13.89, a P/E/G ratio of 1.58 and a beta of 1.26. The company has a current ratio of 2.42, a quick ratio of 1.66 and a debt-to-equity ratio of 0.29. Snap-on Incorporated has a 12 month low of $135.29 and a 12 month high of $189.46.
Snap-on (NYSE:SNA) last released its quarterly earnings data on Thursday, April 18th. The company reported $3.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.91 by $0.10. The business had revenue of $921.70 million for the quarter, compared to analysts’ expectations of $933.13 million. Snap-on had a return on equity of 21.66% and a net margin of 18.64%. Snap-on’s quarterly revenue was down 1.5% on a year-over-year basis. During the same period in the previous year, the business posted $2.79 earnings per share. Equities analysts forecast that Snap-on Incorporated will post 12.36 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Tuesday, May 21st were given a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date was Monday, May 20th. Snap-on’s dividend payout ratio is presently 32.18%.
Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. It operates through Commercial and Industrial Group, Snap-on Tools Group, and Repair Systems & Information Group segments. The company offers hand tools, including wrenches, sockets, ratchet wrenches, pliers, screwdrivers, punches and chisels, saws and cutting tools, pruning tools, torque measuring instruments, and other products; power tools, such as cordless, pneumatic, hydraulic, and corded tools; and tool storage products comprising tool chests, roll cabinets, and other products.
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