MFA Wealth Services Invests $438,000 in Snap-on Incorporated (NYSE:SNA)

MFA Wealth Services purchased a new stake in Snap-on Incorporated (NYSE:SNA) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,292 shares of the company’s stock, valued at approximately $438,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of SNA. Canada Pension Plan Investment Board raised its holdings in shares of Snap-on by 97.8% in the 2nd quarter. Canada Pension Plan Investment Board now owns 10,089 shares of the company’s stock valued at $2,637,000 after purchasing an additional 4,989 shares in the last quarter. Ensign Peak Advisors Inc raised its stake in Snap-on by 2.3% in the second quarter. Ensign Peak Advisors Inc now owns 24,036 shares of the company’s stock worth $6,283,000 after buying an additional 550 shares in the last quarter. ProShare Advisors LLC lifted its holdings in Snap-on by 1.8% during the second quarter. ProShare Advisors LLC now owns 12,118 shares of the company’s stock worth $3,168,000 after buying an additional 212 shares during the period. Public Sector Pension Investment Board boosted its position in Snap-on by 78.0% during the 2nd quarter. Public Sector Pension Investment Board now owns 2,029 shares of the company’s stock valued at $530,000 after acquiring an additional 889 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of Snap-on by 60.9% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 10,096 shares of the company’s stock valued at $2,639,000 after acquiring an additional 3,822 shares during the period. Institutional investors own 84.88% of the company’s stock.

Snap-on Trading Down 0.2 %

Snap-on stock opened at $350.84 on Friday. The firm has a market cap of $18.42 billion, a PE ratio of 18.06, a P/E/G ratio of 2.21 and a beta of 1.00. Snap-on Incorporated has a 12 month low of $252.98 and a 12 month high of $373.89. The stock’s 50 day simple moving average is $350.60 and its two-hundred day simple moving average is $312.63. The company has a current ratio of 4.18, a quick ratio of 3.14 and a debt-to-equity ratio of 0.22.

Snap-on Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Thursday, November 21st were issued a dividend of $2.14 per share. The ex-dividend date of this dividend was Thursday, November 21st. This is an increase from Snap-on’s previous quarterly dividend of $1.86. This represents a $8.56 dividend on an annualized basis and a yield of 2.44%. Snap-on’s dividend payout ratio is 44.06%.

Insider Activity at Snap-on

In other news, SVP Thomas J. Ward sold 12,737 shares of the firm’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $333.21, for a total transaction of $4,244,095.77. Following the sale, the senior vice president now directly owns 55,401 shares in the company, valued at $18,460,167.21. This trade represents a 18.69 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Aldo John Pagliari sold 6,909 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $347.62, for a total value of $2,401,706.58. Following the transaction, the chief financial officer now owns 100,668 shares in the company, valued at $34,994,210.16. This represents a 6.42 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 44,929 shares of company stock worth $15,645,074. 4.10% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have commented on SNA shares. Robert W. Baird increased their price target on shares of Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Roth Mkm lifted their target price on shares of Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Bank of America upped their price target on shares of Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a research note on Friday, October 18th. Barrington Research lifted their price objective on shares of Snap-on from $325.00 to $350.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Finally, Tigress Financial increased their price objective on Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $345.40.

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.