Squarepoint Ops LLC Acquires New Position in Snap-on Incorporated (SNA)

Squarepoint Ops LLC purchased a new position in shares of Snap-on Incorporated (NYSE:SNA) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 14,753 shares of the company’s stock, valued at approximately $2,143,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Man Group plc bought a new position in shares of Snap-on during the 3rd quarter worth approximately $6,028,000. Deprince Race & Zollo Inc. raised its holdings in Snap-on by 4.2% in the 4th quarter. Deprince Race & Zollo Inc. now owns 149,730 shares of the company’s stock valued at $21,754,000 after acquiring an additional 6,034 shares in the last quarter. Vident Investment Advisory LLC acquired a new position in Snap-on in the 3rd quarter valued at $422,000. Atlas Capital Advisors LLC raised its holdings in Snap-on by 1,158.3% in the 4th quarter. Atlas Capital Advisors LLC now owns 453 shares of the company’s stock valued at $66,000 after acquiring an additional 417 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in Snap-on in the 3rd quarter valued at $5,160,000.

Several equities analysts have weighed in on SNA shares. TheStreet raised Snap-on from a “c+” rating to a “b-” rating in a report on Friday, January 11th. Zacks Investment Research raised Snap-on from a “sell” rating to a “hold” rating in a report on Friday, March 29th. Robert W. Baird cut Snap-on from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $186.00 to $160.00 in a report on Wednesday, April 10th. Finally, Bank of America lowered 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. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Snap-on has a consensus rating of “Hold” and a consensus price target of $185.83.

In related news, Director William Dudley Lehman sold 387 shares of the company’s stock in a transaction that occurred on Friday, February 15th. The stock was sold at an average price of $157.19, for a total transaction of $60,832.53. Following the transaction, the director now directly owns 9,996 shares of the company’s stock, valued at approximately $1,571,271.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Nicholas T. Pinchuk sold 11,783 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The stock was 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 sold a total of 57,327 shares of company stock worth $9,123,183 over the last three months. 3.90% of the stock is owned by company insiders.

Shares of NYSE SNA traded up $10.23 during trading on Friday, reaching $168.07. The company had a trading volume of 2,511,740 shares, compared to its average volume of 699,085. Snap-on Incorporated has a 12 month low of $135.29 and a 12 month high of $189.46. The firm has a market capitalization of $9.34 billion, a PE ratio of 14.23, a price-to-earnings-growth ratio of 1.64 and a beta of 1.26. The company has a current ratio of 2.42, a quick ratio of 1.62 and a debt-to-equity ratio of 0.29.

Snap-on (NYSE:SNA) last announced 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 company had revenue of $921.70 million for the quarter, compared to the consensus estimate of $933.13 million. Snap-on had a return on equity of 21.66% and a net margin of 18.64%. The firm’s revenue was down 1.5% compared to the same quarter last year. During the same period in the previous year, the business earned $2.79 EPS. As a group, analysts forecast that Snap-on Incorporated will post 12.28 earnings per share for the current fiscal year.

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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.

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

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