KCL Capital L.P. Invests $12.12 Million in Snap-on Incorporated (NYSE:SNA) Stock

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.

SNA has been the topic of a number of research reports. Zacks Investment Research upgraded Snap-on from a “sell” rating to a “hold” rating in a research report on Wednesday, April 24th. Barrington Research set a $185.00 price objective on Snap-on and gave the company a “buy” rating in a research report on Monday, April 22nd. Robert W. Baird cut Snap-on from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $186.00 to $160.00 in a research report on Wednesday, April 10th. Bank of America cut Snap-on from a “buy” rating to a “neutral” rating and set a $168.00 price objective on the stock. in a research report on Tuesday, April 16th. Finally, Northcoast Research restated a “neutral” rating on shares of Snap-on in a research report on Friday, May 17th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $185.20.

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%.

TRADEMARK VIOLATION WARNING: “KCL Capital L.P. Invests $12.12 Million in Snap-on Incorporated (NYSE:SNA) Stock” was published by Community Financial News and is the property of of Community Financial News. If you are reading this piece on another website, it was illegally stolen and republished in violation of United States & international copyright & trademark legislation. The legal version of this piece can be accessed at https://www.com-unik.info/2019/06/16/kcl-capital-l-p-invests-12-12-million-in-snap-on-incorporated-nysesna-stock.html.

About Snap-on

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.

Recommended Story: Buy-Side Analysts

Want to see what other hedge funds are holding SNA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Snap-on Incorporated (NYSE:SNA).

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

Receive News & Ratings for Snap-on Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Snap-on and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit