Nomura Asset Management Co. Ltd. Buys 111 Shares of Snap-on Incorporated (NYSE:SNA)

Nomura Asset Management Co. Ltd. increased its position in Snap-on Incorporated (NYSE:SNA) by 0.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,898 shares of the company’s stock after buying an additional 111 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Snap-on were worth $8,113,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. New Age Alpha Advisors LLC bought a new position in shares of Snap-on during the 4th quarter valued at approximately $2,831,000. Norges Bank purchased a new stake in Snap-on during the fourth quarter valued at $145,342,000. Sava Infond d.o.o. bought a new position in Snap-on during the fourth quarter valued at $302,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Snap-on by 4.9% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 83,375 shares of the company’s stock worth $28,020,000 after buying an additional 3,863 shares in the last quarter. Finally, Korea Investment CORP increased its holdings in shares of Snap-on by 25.2% in the 4th quarter. Korea Investment CORP now owns 48,692 shares of the company’s stock worth $16,530,000 after buying an additional 9,794 shares during the last quarter. 84.88% of the stock is owned by institutional investors.

Snap-on Stock Performance

Shares of Snap-on stock opened at $337.25 on Tuesday. The company has a quick ratio of 3.17, a current ratio of 4.15 and a debt-to-equity ratio of 0.22. The stock’s fifty day moving average is $339.90 and its two-hundred day moving average is $334.34. Snap-on Incorporated has a 52 week low of $252.98 and a 52 week high of $373.90. The company has a market capitalization of $17.68 billion, a PE ratio of 17.29, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99.

Snap-on (NYSE:SNA) last issued its earnings results on Thursday, February 6th. The company reported $4.82 EPS for the quarter, topping analysts’ consensus estimates of $4.78 by $0.04. Snap-on had a net margin of 21.71% and a return on equity of 19.20%. During the same quarter last year, the firm earned $4.75 EPS. As a group, analysts expect that Snap-on Incorporated will post 19.79 earnings per share for the current year.

Snap-on Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 24th were issued a $2.14 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $8.56 annualized dividend and a dividend yield of 2.54%. Snap-on’s dividend payout ratio is currently 43.90%.

Analyst Ratings Changes

SNA has been the subject of several recent research reports. Longbow Research upgraded Snap-on from a “neutral” rating to a “buy” rating and set a $400.00 price target for the company in a research report on Monday. Barrington Research restated an “outperform” rating and issued a $350.00 price target on shares of Snap-on in a research report on Monday, February 10th. Finally, Tigress Financial boosted their price objective on shares of Snap-on from $385.00 to $390.00 and gave the company a “buy” rating in a research report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $355.33.

Insider Transactions at Snap-on

In related news, SVP Jesus Arregui sold 6,451 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $337.81, for a total transaction of $2,179,212.31. Following the completion of the transaction, the senior vice president now owns 257 shares in the company, valued at $86,817.17. The trade was a 96.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Aldo John Pagliari sold 6,860 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $339.05, for a total transaction of $2,325,883.00. Following the transaction, the chief financial officer now owns 107,096 shares in the company, valued at approximately $36,310,898.80. This trade represents a 6.02 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,011 shares of company stock valued at $12,116,859. Company insiders own 3.90% of the company’s stock.

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.