SNAP-ON INC. $163 (New York symbol SNA; Conservative Growth and Income Portfolios, Manufacturing & Industry sector; Shares outstanding: 58.2 million; Market cap: $9.5 billion; Price-to-sales ratio: 2.6; Dividend yield: 1.5%; TSINetwork Rating: Average; www.snapon.com) makes tools for auto mechanics and sells them through a fleet of franchised vans that visit garages. It also makes specialized tools for industrial customers.
In the three months ended April 2, 2016, the company’s revenue gained 0.8%, to $834.2 million from $827.8 million a year earlier. But excluding exchange rates and acquisitions, sales gained 2.5%. Thanks to an ongoing efficiency plan, earnings per share rose 15.5%, to $2.16 from $1.87.
The stock trades at 18.3 times the $8.93 a share that Snap-On will likely earn this year. That’s a somewhat high multiple for a company that relies on the cyclical automotive industry for 60% of its earnings.
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