River & Mercantile Asset Management LLP Makes New $3.32 Million Investment in Snap-on Incorporated (NYSE:SNA)

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River & Mercantile Asset Management LLP bought a new position in Snap-on Incorporated (NYSE:SNA) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 30,515 shares of the company’s stock, valued at approximately $3,319,000. River & Mercantile Asset Management LLP owned about 0.06% of Snap-on at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Northwestern Mutual Investment Management Company LLC grew its position in shares of Snap-on by 34.1% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 2,857 shares of the company’s stock valued at $311,000 after purchasing an additional 726 shares in the last quarter. Royal London Asset Management Ltd. grew its position in shares of Snap-on by 5.1% in the first quarter. Royal London Asset Management Ltd. now owns 135,877 shares of the company’s stock valued at $15,234,000 after purchasing an additional 6,623 shares in the last quarter. AQR Capital Management LLC grew its position in shares of Snap-on by 25.4% in the fourth quarter. AQR Capital Management LLC now owns 681,314 shares of the company’s stock valued at $115,415,000 after purchasing an additional 138,081 shares in the last quarter. 1832 Asset Management L.P. purchased a new position in shares of Snap-on in the fourth quarter valued at $3,825,000. Finally, Natixis Advisors L.P. grew its position in shares of Snap-on by 11.6% in the fourth quarter. Natixis Advisors L.P. now owns 60,601 shares of the company’s stock valued at $10,266,000 after purchasing an additional 6,292 shares in the last quarter. 92.78% of the stock is owned by institutional investors and hedge funds.

SNA stock traded down $10.47 during mid-day trading on Thursday, hitting $135.08. 20,171 shares of the stock were exchanged, compared to its average volume of 627,755. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.50 and a quick ratio of 1.68. The business has a fifty day moving average price of $129.16 and a 200 day moving average price of $143.74. Snap-on Incorporated has a 12 month low of $90.72 and a 12 month high of $172.61. The stock has a market capitalization of $8.48 billion, a price-to-earnings ratio of 11.50, a PEG ratio of 1.69 and a beta of 1.35.

Snap-on (NYSE:SNA) last issued its quarterly earnings results on Tuesday, April 21st. The company reported $2.60 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.75 by ($0.15). Snap-on had a return on equity of 19.64% and a net margin of 17.83%. The firm had revenue of $852.20 million for the quarter, compared to the consensus estimate of $877.72 million. During the same period last year, the firm earned $3.01 EPS. The company’s revenue for the quarter was down 7.5% on a year-over-year basis. As a group, equities analysts forecast that Snap-on Incorporated will post 9.08 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Thursday, May 21st were paid a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a yield of 3.20%. The ex-dividend date of this dividend was Wednesday, May 20th. Snap-on’s dividend payout ratio (DPR) is currently 35.24%.

Several equities research analysts recently issued reports on SNA shares. ValuEngine lowered Snap-on from a “hold” rating to a “sell” rating in a research note on Monday, June 1st. Barrington Research reissued an “outperform” rating on shares of Snap-on in a research note on Thursday, April 23rd. Longbow Research reissued a “hold” rating on shares of Snap-on in a research note on Wednesday, March 25th. Finally, Tigress Financial reissued a “buy” rating on shares of Snap-on in a research note on Thursday, May 7th. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $172.50.

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.

Read More: What does an outperform rating mean?

Institutional Ownership by Quarter for Snap-on (NYSE:SNA)

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