Copeland Capital Management LLC Has $8.96 Million Stake in Snap-on Incorporated (NYSE:SNA)

Copeland Capital Management LLC grew its stake in Snap-on Incorporated (NYSE:SNA) by 22.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 57,216 shares of the company’s stock after purchasing an additional 10,676 shares during the period. Copeland Capital Management LLC owned about 0.10% of Snap-on worth $8,957,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SNA. Bank of America Corp DE grew its position in Snap-on by 12.7% in the 2nd quarter. Bank of America Corp DE now owns 3,487,031 shares of the company’s stock worth $577,591,000 after purchasing an additional 392,665 shares during the last quarter. Nuveen Asset Management LLC boosted its position in shares of Snap-on by 5,391.2% during the 2nd quarter. Nuveen Asset Management LLC now owns 256,327 shares of the company’s stock valued at $42,458,000 after acquiring an additional 251,659 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Snap-on by 89.5% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 324,381 shares of the company’s stock valued at $53,730,000 after acquiring an additional 153,243 shares in the last quarter. Investec Asset Management LTD boosted its position in shares of Snap-on by 16.5% during the 2nd quarter. Investec Asset Management LTD now owns 703,954 shares of the company’s stock valued at $116,603,000 after acquiring an additional 99,944 shares in the last quarter. Finally, LSV Asset Management boosted its position in shares of Snap-on by 64.2% during the 2nd quarter. LSV Asset Management now owns 249,530 shares of the company’s stock valued at $41,332,000 after acquiring an additional 97,600 shares in the last quarter.

In related news, CEO Nicholas T. Pinchuk sold 19,675 shares of Snap-on stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $155.46, for a total transaction of $3,058,675.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Iain Boyd sold 777 shares of Snap-on stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $165.00, for a total transaction of $128,205.00. The disclosure for this sale can be found here. Company insiders own 3.90% of the company’s stock.

Several analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of Snap-on from a “hold” rating to a “sell” rating and set a $166.00 target price on the stock. in a research report on Tuesday, July 16th. Oppenheimer set a $180.00 target price on shares of Snap-on and gave the company a “buy” rating in a research report on Friday, July 19th. ValuEngine lowered shares of Snap-on from a “hold” rating to a “sell” rating in a research report on Saturday, October 19th. Tigress Financial reiterated a “buy” rating on shares of Snap-on in a research report on Friday, October 25th. Finally, Robert W. Baird reiterated a “hold” rating and set a $169.00 target price on shares of Snap-on in a research report on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $173.60.

Shares of Snap-on stock opened at $167.95 on Tuesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.61 and a current ratio of 2.37. The firm’s 50-day simple moving average is $159.90 and its 200-day simple moving average is $158.50. Snap-on Incorporated has a twelve month low of $135.29 and a twelve month high of $174.00. The firm has a market cap of $9.22 billion, a P/E ratio of 14.22, a price-to-earnings-growth ratio of 1.61 and a beta of 1.24.

Snap-on (NYSE:SNA) last issued its earnings results on Thursday, October 17th. The company reported $2.96 earnings per share for the quarter, beating the consensus estimate of $2.94 by $0.02. Snap-on had a net margin of 18.72% and a return on equity of 21.16%. The business had revenue of $901.80 million for the quarter, compared to analyst estimates of $909.23 million. During the same period in the previous year, the business earned $2.88 EPS. The firm’s revenue was up .4% on a year-over-year basis. On average, equities analysts forecast that Snap-on Incorporated will post 12.26 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Wednesday, November 20th will be issued a dividend of $1.08 per share. This is an increase from Snap-on’s previous quarterly dividend of $0.95. This represents a $4.32 annualized dividend and a yield of 2.57%. Snap-on’s dividend payout ratio (DPR) is currently 32.18%.

Snap-on Profile

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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