Stanley Black & Decker, Inc. (NYSE:SWK) Short Interest Up 10.1% in October

Stanley Black & Decker, Inc. (NYSE:SWK) was the target of a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 2,620,000 shares, a growth of 10.1% from the September 30th total of 2,380,000 shares. Approximately 1.7% of the shares of the stock are sold short. Based on an average trading volume of 982,800 shares, the short-interest ratio is presently 2.7 days.

A number of equities research analysts have commented on the company. Wolfe Research set a $160.00 price target on Stanley Black & Decker and gave the company a “hold” rating in a research report on Friday, October 25th. Wells Fargo & Co reiterated a “buy” rating on shares of Stanley Black & Decker in a research report on Tuesday, October 15th. Buckingham Research upped their price target on Stanley Black & Decker from $150.00 to $157.00 and gave the company a “neutral” rating in a research report on Thursday. Morgan Stanley reduced their price target on Stanley Black & Decker from $161.00 to $158.00 and set an “overweight” rating on the stock in a research report on Monday, October 28th. Finally, Nomura upped their price target on Stanley Black & Decker from $160.00 to $163.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the company. Stanley Black & Decker presently has an average rating of “Buy” and an average price target of $160.73.

Shares of NYSE:SWK traded up $1.52 during midday trading on Friday, reaching $157.63. The company’s stock had a trading volume of 975,445 shares, compared to its average volume of 1,090,601. The firm has a market capitalization of $23.96 billion, a price-to-earnings ratio of 19.34, a PEG ratio of 2.09 and a beta of 1.40. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.47 and a current ratio of 0.98. The firm has a 50 day moving average price of $149.18 and a two-hundred day moving average price of $142.57. Stanley Black & Decker has a fifty-two week low of $110.54 and a fifty-two week high of $162.15.

Stanley Black & Decker (NYSE:SWK) last announced its quarterly earnings data on Thursday, October 24th. The industrial products company reported $2.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.03 by $0.10. The company had revenue of $3.63 billion for the quarter, compared to the consensus estimate of $3.65 billion. Stanley Black & Decker had a return on equity of 17.10% and a net margin of 4.80%. The firm’s revenue was up 4.0% compared to the same quarter last year. During the same period in the previous year, the business earned $2.08 EPS. As a group, research analysts anticipate that Stanley Black & Decker will post 8.4 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Friday, November 29th will be paid a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date of this dividend is Wednesday, November 27th. Stanley Black & Decker’s dividend payout ratio is 33.87%.

Stanley Black & Decker declared that its Board of Directors has initiated a share repurchase plan on Thursday, October 24th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the industrial products company to purchase up to 0.9% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

In related news, insider Robert H. Raff, Jr. sold 3,661 shares of the business’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $151.36, for a total transaction of $554,128.96. Following the sale, the insider now owns 14,099 shares in the company, valued at approximately $2,134,024.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Donald Allan sold 2,912 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $155.48, for a total value of $452,757.76. Following the completion of the sale, the chief financial officer now owns 127,403 shares in the company, valued at approximately $19,808,618.44. The disclosure for this sale can be found here. Insiders have sold a total of 44,073 shares of company stock worth $7,042,612 in the last 90 days. 1.03% of the stock is currently owned by corporate insiders.

Large investors have recently made changes to their positions in the company. Envestnet Asset Management Inc. lifted its stake in shares of Stanley Black & Decker by 75.5% in the 3rd quarter. Envestnet Asset Management Inc. now owns 37,360 shares of the industrial products company’s stock valued at $5,395,000 after purchasing an additional 16,069 shares during the period. Schroder Investment Management Group raised its stake in Stanley Black & Decker by 4.3% during the 2nd quarter. Schroder Investment Management Group now owns 22,725 shares of the industrial products company’s stock worth $3,287,000 after buying an additional 940 shares during the period. Westpac Banking Corp raised its stake in Stanley Black & Decker by 40.6% during the 2nd quarter. Westpac Banking Corp now owns 15,143 shares of the industrial products company’s stock worth $2,190,000 after buying an additional 4,370 shares during the period. Cibc World Markets Corp raised its stake in Stanley Black & Decker by 1.6% during the 2nd quarter. Cibc World Markets Corp now owns 35,853 shares of the industrial products company’s stock worth $5,185,000 after buying an additional 576 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Stanley Black & Decker by 2.7% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 679,205 shares of the industrial products company’s stock worth $98,220,000 after buying an additional 18,035 shares during the period. 85.67% of the stock is currently owned by institutional investors.

Stanley Black & Decker Company Profile

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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