Touchstone Capital Inc. Has $5.64 Million Position in Snap-on Incorporated (NYSE:SNA)

Touchstone Capital Inc. increased its stake in Snap-on Incorporated (NYSE:SNA) by 26.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 19,482 shares of the company’s stock after purchasing an additional 4,114 shares during the period. Snap-on makes up 8.6% of Touchstone Capital Inc.’s holdings, making the stock its 3rd largest position. Touchstone Capital Inc.’s holdings in Snap-on were worth $5,644,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. Scarborough Advisors LLC acquired a new position in Snap-on during the fourth quarter worth $30,000. Opal Wealth Advisors LLC acquired a new position in shares of Snap-on during the 2nd quarter worth about $30,000. Innealta Capital LLC bought a new position in shares of Snap-on in the 2nd quarter valued at about $32,000. Massmutual Trust Co. FSB ADV raised its stake in shares of Snap-on by 53.0% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 127 shares of the company’s stock worth $37,000 after purchasing an additional 44 shares in the last quarter. Finally, Quarry LP boosted its holdings in shares of Snap-on by 244.7% in the 2nd quarter. Quarry LP now owns 162 shares of the company’s stock valued at $42,000 after buying an additional 115 shares during the last quarter. Institutional investors own 84.88% of the company’s stock.

Insider Buying and Selling

In other news, CFO Aldo John Pagliari sold 4,473 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $278.74, for a total transaction of $1,246,804.02. Following the sale, the chief financial officer now directly owns 99,244 shares of the company’s stock, valued at approximately $27,663,272.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Snap-on news, CFO Aldo John Pagliari sold 4,473 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $278.74, for a total transaction of $1,246,804.02. Following the completion of the sale, the chief financial officer now directly owns 99,244 shares in the company, valued at $27,663,272.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Iain Boyd sold 6,044 shares of the firm’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $298.99, for a total value of $1,807,095.56. Following the completion of the sale, the vice president now directly owns 10,493 shares in the company, valued at approximately $3,137,302.07. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,848 shares of company stock valued at $9,884,486 over the last 90 days. 4.10% of the stock is owned by corporate insiders.

Snap-on Stock Performance

SNA traded up $2.65 during trading on Wednesday, hitting $298.33. The stock had a trading volume of 95,167 shares, compared to its average volume of 291,134. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.06 and a quick ratio of 3.05. The firm has a market cap of $15.73 billion, a price-to-earnings ratio of 15.51, a P/E/G ratio of 1.99 and a beta of 0.98. The company has a 50 day moving average price of $281.00 and a 200-day moving average price of $276.06. Snap-on Incorporated has a one year low of $249.84 and a one year high of $302.64.

Snap-on (NYSE:SNA) last released its quarterly earnings results on Thursday, July 18th. The company reported $5.07 EPS for the quarter, topping analysts’ consensus estimates of $4.94 by $0.13. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.20 billion. Snap-on had a net margin of 21.90% and a return on equity of 19.90%. Snap-on’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same period last year, the firm earned $4.89 earnings per share. As a group, research analysts predict that Snap-on Incorporated will post 18.95 EPS for the current year.

Snap-on declared that its Board of Directors has approved a stock buyback plan on Thursday, August 8th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to buy up to 3.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Snap-on Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were paid a $1.86 dividend. This represents a $7.44 annualized dividend and a dividend yield of 2.49%. The ex-dividend date was Monday, August 19th. Snap-on’s dividend payout ratio (DPR) is currently 39.03%.

Wall Street Analysts Forecast Growth

SNA has been the subject of a number of recent analyst reports. Barrington Research reiterated an “outperform” rating and issued a $325.00 price target on shares of Snap-on in a research note on Friday, September 20th. Robert W. Baird cut their price objective on Snap-on from $282.00 to $275.00 and set a “neutral” rating for the company in a research report on Friday, July 12th. Tigress Financial reissued a “buy” rating and set a $336.00 target price on shares of Snap-on in a report on Thursday, July 25th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $324.00 price target on shares of Snap-on in a report on Tuesday, July 16th.

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