Versant Capital Management Inc Acquires 164 Shares of Snap-on Incorporated (NYSE:SNA)

Versant Capital Management Inc raised its position in Snap-on Incorporated (NYSE:SNA) by 529.0% in the second quarter, HoldingsChannel reports. The fund owned 195 shares of the company’s stock after purchasing an additional 164 shares during the quarter. Versant Capital Management Inc’s holdings in Snap-on were worth $51,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Earnest Partners LLC grew its stake in Snap-on by 9.9% in the first quarter. Earnest Partners LLC now owns 929,710 shares of the company’s stock valued at $275,399,000 after acquiring an additional 83,686 shares during the period. Nordea Investment Management AB boosted its position in shares of Snap-on by 3.2% during the first quarter. Nordea Investment Management AB now owns 891,994 shares of the company’s stock valued at $265,217,000 after buying an additional 27,429 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Snap-on by 0.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 773,087 shares of the company’s stock valued at $223,304,000 after buying an additional 3,449 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Snap-on by 2.3% during the fourth quarter. Envestnet Asset Management Inc. now owns 755,445 shares of the company’s stock valued at $218,203,000 after buying an additional 16,972 shares during the last quarter. Finally, LSV Asset Management boosted its position in shares of Snap-on by 0.5% during the first quarter. LSV Asset Management now owns 674,341 shares of the company’s stock valued at $199,753,000 after buying an additional 3,535 shares during the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

Snap-on Stock Performance

SNA stock traded up $1.12 during midday trading on Tuesday, hitting $272.36. The company’s stock had a trading volume of 234,935 shares, compared to its average volume of 302,056. The stock’s 50-day moving average price is $268.43 and its 200 day moving average price is $276.88. The company has a quick ratio of 3.05, a current ratio of 4.06 and a debt-to-equity ratio of 0.22. Snap-on Incorporated has a 1 year low of $249.84 and a 1 year high of $298.49. The stock has a market cap of $14.36 billion, a price-to-earnings ratio of 14.29, a PEG ratio of 1.92 and a beta of 0.98.

Snap-on (NYSE:SNA) last posted its quarterly earnings data on Thursday, July 18th. The company reported $5.07 earnings per share for the quarter, topping the consensus estimate of $4.94 by $0.13. The business had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Snap-on had a return on equity of 19.90% and a net margin of 21.90%. The business’s revenue was down 1.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.89 earnings per share. On average, equities analysts forecast that Snap-on Incorporated will post 18.97 EPS for the current year.

Insider Buying and Selling at Snap-on

In other Snap-on news, CFO Aldo John Pagliari sold 5,978 shares of the business’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $276.86, for a total value of $1,655,069.08. Following the sale, the chief financial officer now directly owns 97,699 shares in the company, valued at $27,048,945.14. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CFO Aldo John Pagliari sold 5,978 shares of the business’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $276.86, for a total transaction of $1,655,069.08. Following the sale, the chief financial officer now directly owns 97,699 shares in the company, valued at approximately $27,048,945.14. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Jesus Arregui sold 8,434 shares of the business’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $265.17, for a total value of $2,236,443.78. Following the sale, the senior vice president now owns 252 shares in the company, valued at $66,822.84. The disclosure for this sale can be found here. Insiders have sold a total of 38,632 shares of company stock worth $10,353,409 over the last ninety days. 4.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Robert W. Baird cut their target price on Snap-on from $282.00 to $275.00 and set a “neutral” rating on the stock in a research report on Friday, July 12th. Barrington Research reaffirmed an “outperform” rating and set a $325.00 target price on shares of Snap-on in a research report on Tuesday, July 16th. Tigress Financial reaffirmed a “buy” rating and set a $336.00 target price on shares of Snap-on in a research report on Thursday, July 25th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $324.00 target price on shares of Snap-on in a research report on Tuesday, July 16th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Snap-on has an average rating of “Moderate Buy” and an average target price of $315.00.

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 & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.