Traders Buy Shares of Stanley Black & Decker Inc. (SWK) on Weakness
Traders bought shares of Stanley Black & Decker Inc. (NYSE:SWK) on weakness during trading hours on Wednesday. $56.92 million flowed into the stock on the tick-up and $22.15 million flowed out of the stock on the tick-down, for a money net flow of $34.77 million into the stock. Of all companies tracked, Stanley Black & Decker had the 6th highest net in-flow for the day. Stanley Black & Decker traded down ($0.06) for the day and closed at $122.36
Several brokerages have commented on SWK. Imperial Capital reissued a “hold” rating on shares of Stanley Black & Decker in a report on Saturday, April 23rd. Zacks Investment Research raised Stanley Black & Decker from a “hold” rating to a “buy” rating and set a $137.00 price target on the stock in a research note on Wednesday. Morgan Stanley lifted their price target on Stanley Black & Decker from $104.00 to $111.00 in a research note on Thursday, April 7th. Zelman & Associates lowered Stanley Black & Decker from a “buy” rating to a “hold” rating in a research note on Monday. Finally, Goldman Sachs Group Inc. began coverage on Stanley Black & Decker in a research note on Friday, June 10th. They issued a “neutral” rating and a $120.00 price target on the stock. Nine equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $113.36.
The firm has a market cap of $17.76 billion and a P/E ratio of 19.10. The company’s 50 day moving average price is $114.18 and its 200-day moving average price is $106.04.
Stanley Black & Decker (NYSE:SWK) last issued its earnings results on Friday, July 22nd. The company reported $1.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.12. During the same period last year, the company posted $1.54 earnings per share. The business had revenue of $2.90 billion for the quarter, compared to analysts’ expectations of $2.90 billion. The business’s quarterly revenue was up 2.3% on a year-over-year basis. Analysts expect that Stanley Black & Decker Inc. will post $6.47 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 20th. Stockholders of record on Friday, September 2nd will be paid a dividend of $0.58 per share. This is an increase from Stanley Black & Decker’s previous quarterly dividend of $0.55. This represents a $2.32 dividend on an annualized basis and a dividend yield of 1.90%.
In related news, VP Rhonda Gass sold 1,978 shares of the firm’s stock in a transaction that occurred on Wednesday, May 25th. The stock was sold at an average price of $114.75, for a total value of $226,975.50. Following the completion of the transaction, the vice president now directly owns 27,265 shares of the company’s stock, valued at approximately $3,128,658.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael David Hankin acquired 450 shares of the company’s stock in a transaction that occurred on Tuesday, May 10th. The stock was purchased at an average cost of $112.18 per share, with a total value of $50,481.00. Following the completion of the purchase, the director now directly owns 450 shares in the company, valued at $50,481. The disclosure for this purchase can be found here.
A number of institutional investors have recently added to or reduced their stakes in SWK. BlackRock Advisors LLC increased its position in Stanley Black & Decker by 19.8% in the fourth quarter. BlackRock Advisors LLC now owns 314,522 shares of the company’s stock valued at $33,569,000 after buying an additional 51,910 shares during the last quarter. KBC Group NV increased its position in Stanley Black & Decker by 36.0% in the fourth quarter. KBC Group NV now owns 23,161 shares of the company’s stock valued at $2,472,000 after buying an additional 6,134 shares during the last quarter. State of Tennessee Treasury Department increased its position in Stanley Black & Decker by 196.7% in the fourth quarter. State of Tennessee Treasury Department now owns 198,937 shares of the company’s stock valued at $21,233,000 after buying an additional 131,885 shares during the last quarter. Affinity Investment Advisors LLC purchased a new position in Stanley Black & Decker during the fourth quarter valued at $1,158,000. Finally, Dimensional Fund Advisors LP increased its position in Stanley Black & Decker by 1.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,208,024 shares of the company’s stock valued at $235,670,000 after buying an additional 31,252 shares during the last quarter.
Stanley Black & Decker, Inc is a provider of hand tools, power tools and related accessories, mechanical access solutions (automatic doors and commercial locking systems), electronic security and monitoring systems, healthcare solutions, engineered fastening systems, and products and services for various industrial applications.
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