Stanley Black & Decker, Inc. (NYSE:SWK) was the target of a large increase in short interest in August. As of August 15th, there was short interest totalling 2,393,800 shares, an increase of 18.2% from the July 15th total of 2,025,600 shares. Currently, 1.6% of the company’s stock are short sold. Based on an average daily volume of 1,080,000 shares, the days-to-cover ratio is presently 2.2 days.
A number of analysts have weighed in on SWK shares. Buckingham Research raised their price objective on shares of Stanley Black & Decker from $154.00 to $155.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Gabelli lowered shares of Stanley Black & Decker from a “buy” rating to a “hold” rating in a research note on Wednesday, July 24th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Stanley Black & Decker from a “hold” rating to a “buy” rating and set a $150.00 price target for the company in a research note on Friday, June 14th. Nomura lifted their price target on shares of Stanley Black & Decker from $160.00 to $163.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Finally, Morgan Stanley lifted their price target on shares of Stanley Black & Decker from $161.00 to $165.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $157.06.
In other Stanley Black & Decker news, SVP Jaime A. Ramirez sold 9,850 shares of the firm’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $151.04, for a total transaction of $1,487,744.00. Following the completion of the sale, the senior vice president now directly owns 45,706 shares in the company, valued at approximately $6,903,434.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.03% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP lifted its stake in Stanley Black & Decker by 16.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,937,486 shares of the industrial products company’s stock valued at $231,995,000 after purchasing an additional 269,736 shares during the last quarter. Geode Capital Management LLC lifted its stake in Stanley Black & Decker by 5.9% in the 4th quarter. Geode Capital Management LLC now owns 1,947,219 shares of the industrial products company’s stock valued at $232,748,000 after purchasing an additional 109,205 shares during the last quarter. CWM LLC lifted its stake in Stanley Black & Decker by 36.0% in the 1st quarter. CWM LLC now owns 839 shares of the industrial products company’s stock valued at $114,000 after purchasing an additional 222 shares during the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in Stanley Black & Decker in the 1st quarter valued at about $358,000. Finally, Oppenheimer Asset Management Inc. lifted its stake in Stanley Black & Decker by 1,847.4% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 9,250 shares of the industrial products company’s stock valued at $1,259,000 after purchasing an additional 8,775 shares during the last quarter. Institutional investors own 84.24% of the company’s stock.
Shares of NYSE SWK opened at $131.79 on Thursday. The firm has a 50 day moving average of $140.87 and a 200 day moving average of $139.23. The company has a current ratio of 0.95, a quick ratio of 0.44 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $19.95 billion, a price-to-earnings ratio of 16.17, a price-to-earnings-growth ratio of 1.71 and a beta of 1.36. Stanley Black & Decker has a 12-month low of $106.41 and a 12-month high of $155.22.
Stanley Black & Decker (NYSE:SWK) last announced its earnings results on Tuesday, July 23rd. The industrial products company reported $2.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.55 by $0.11. The company had revenue of $3.76 billion during the quarter, compared to analyst estimates of $3.81 billion. Stanley Black & Decker had a net margin of 4.97% and a return on equity of 17.10%. The firm’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period in the previous year, the business posted $2.57 earnings per share. Sell-side analysts predict that Stanley Black & Decker will post 8.61 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be given a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 2.09%. This is a positive change from Stanley Black & Decker’s previous quarterly dividend of $0.66. The ex-dividend date is Friday, August 30th. Stanley Black & Decker’s payout ratio is 32.39%.
About Stanley Black & Decker
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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