Stanley Black & Decker, Inc. (NYSE:SWK) shares were up 7.2% during trading on Tuesday following a better than expected earnings announcement. The company traded as high as $152.00 and last traded at $151.66, approximately 4,095,990 shares traded hands during trading. An increase of 223% from the average daily volume of 1,268,129 shares. The stock had previously closed at $141.50.
The industrial products company reported $2.66 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.55 by $0.11. Stanley Black & Decker had a net margin of 4.57% and a return on equity of 17.01%. The company had revenue of $3.76 billion for the quarter, compared to analysts’ expectations of $3.81 billion. During the same quarter last year, the company posted $2.57 earnings per share. The firm’s quarterly revenue was up 3.2% on a year-over-year basis.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be given a $0.69 dividend. The ex-dividend date is Friday, August 30th. This is an increase from Stanley Black & Decker’s previous quarterly dividend of $0.66. This represents a $2.76 annualized dividend and a yield of 1.82%. Stanley Black & Decker’s dividend payout ratio (DPR) is presently 32.39%.
SWK has been the topic of several recent research reports. Barclays increased their price target on shares of T. Rowe Price Group from $90.00 to $95.00 and gave the stock an “underweight” rating in a research report on Thursday, April 25th. TheStreet upgraded shares of Viacom from a “c+” rating to a “b-” rating in a research report on Wednesday, April 24th. Deutsche Bank increased their price target on shares of Walmart from $118.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. Zacks Investment Research downgraded shares of First Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, June 14th. Finally, Wells Fargo & Co initiated coverage on shares of Tradeweb Markets in a research report on Monday, April 29th. They issued a “market perform” rating and a $40.00 price target on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $157.18.
In other news, EVP Jeffrey D. Ansell sold 15,639 shares of the firm’s stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $150.30, for a total transaction of $2,350,541.70. Following the sale, the executive vice president now directly owns 26,574 shares in the company, valued at approximately $3,994,072.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jaime A. Ramirez sold 1,000 shares of the firm’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $136.94, for a total transaction of $136,940.00. Following the sale, the senior vice president now owns 38,356 shares in the company, valued at $5,252,470.64. The disclosure for this sale can be found here. Insiders have sold a total of 107,267 shares of company stock worth $15,737,849 over the last 90 days. Insiders own 1.03% of the company’s stock.
Several hedge funds have recently made changes to their positions in SWK. Phocas Financial Corp. bought a new stake in Stanley Black & Decker in the 4th quarter valued at $63,000. Northern Trust Corp increased its holdings in Stanley Black & Decker by 0.7% in the 1st quarter. Northern Trust Corp now owns 1,712,882 shares of the industrial products company’s stock valued at $233,244,000 after acquiring an additional 12,223 shares during the last quarter. King Luther Capital Management Corp increased its holdings in Stanley Black & Decker by 3.1% in the 1st quarter. King Luther Capital Management Corp now owns 89,099 shares of the industrial products company’s stock valued at $12,133,000 after acquiring an additional 2,665 shares during the last quarter. Yorktown Management & Research Co Inc bought a new stake in Stanley Black & Decker in the 1st quarter valued at $470,000. Finally, Norges Bank bought a new stake in Stanley Black & Decker in the 4th quarter valued at $164,721,000. Hedge funds and other institutional investors own 86.35% of the company’s stock.
The company has a quick ratio of 0.43, a current ratio of 0.91 and a debt-to-equity ratio of 0.54. The company has a market cap of $21.75 billion, a P/E ratio of 18.61, a P/E/G ratio of 1.87 and a beta of 1.36. The stock’s fifty day simple moving average is $142.74.
Stanley Black & Decker Company Profile (NYSE:SWK)
Stanley Black & Decker, Inc engages in tools and storage, industrial, and security businesses worldwide. Its Tools & Storage segment offers power tools and equipment, including professional products, such as professional grade corded and cordless electric power tools and equipment, and pneumatic tools and fasteners; and consumer products comprising corded and cordless electric power tools primarily under the BLACK+DECKER brand, as well as lawn and garden products and related accessories, and home products.
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