Mid Atlantic Financial Management Inc. ADV Trims Stake in Stanley Black & Decker, Inc. (NYSE:SWK)

Mid Atlantic Financial Management Inc. ADV Trims Stake in Stanley Black & Decker, Inc. (NYSE:SWK)

  • August 27, 2020
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Mid Atlantic Financial Management Inc. ADV lowered its stake in Stanley Black & Decker, Inc. (NYSE:SWK) by 9.0% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,318 shares of the industrial products company’s stock after selling 229 shares during the quarter. Mid Atlantic Financial Management Inc. ADV’s holdings in Stanley Black & Decker were worth $323,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Golden State Wealth Management LLC purchased a new stake in Stanley Black & Decker in the 1st quarter valued at approximately $26,000. Hanson & Doremus Investment Management purchased a new position in shares of Stanley Black & Decker during the 1st quarter worth $40,000. Harel Insurance Investments & Financial Services Ltd. lifted its stake in shares of Stanley Black & Decker by 41.7% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 299 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 88 shares during the period. Watson Rebecca purchased a new position in shares of Stanley Black & Decker during the 2nd quarter worth $42,000. Finally, WASHINGTON TRUST Co purchased a new position in shares of Stanley Black & Decker during the 1st quarter worth $44,000. 87.10% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Stanley Black & Decker stock opened at $159.77 on Tuesday. The business has a 50-day moving average of $149.69 and a 200-day moving average of $132.17. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.26 and a quick ratio of 0.66. The company has a market capitalization of $25.35 billion, a PE ratio of 30.43, a P/E/G ratio of 5.27 and a beta of 1.55. Stanley Black & Decker, Inc. has a 1-year low of $70.00 and a 1-year high of $173.67.

Stanley Black & Decker (NYSE:SWK) last issued its quarterly earnings results on Thursday, July 30th. The industrial products company reported $1.60 EPS for the quarter, topping the consensus estimate of $1.27 by $0.33. Stanley Black & Decker had a net margin of 5.88% and a return on equity of 13.97%. The business had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.13 billion. During the same quarter last year, the company posted $2.66 earnings per share. The company’s quarterly revenue was down 17.6% compared to the same quarter last year. On average, equities analysts expect that Stanley Black & Decker, Inc. will post 6.91 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be given a dividend of $0.70 per share. This is a boost from Stanley Black & Decker’s previous quarterly dividend of $0.69. The ex-dividend date of this dividend is Monday, August 31st. This represents a $2.80 annualized dividend and a dividend yield of 1.75%. Stanley Black & Decker’s dividend payout ratio (DPR) is presently 32.86%.

In other news, EVP Jaime A. Ramirez sold 22,700 shares of the stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $155.22, for a total transaction of $3,523,494.00. Following the transaction, the executive vice president now owns 54,528 shares of the company’s stock, valued at $8,463,836.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.00% of the company’s stock.

SWK has been the subject of a number of research analyst reports. Credit Suisse Group upped their price objective on Stanley Black & Decker from $125.00 to $140.00 and gave the stock a “neutral” rating in a report on Thursday, June 4th. JPMorgan Chase & Co. increased their price target on Stanley Black & Decker from $130.00 to $175.00 in a report on Friday, July 10th. Barclays increased their price target on Stanley Black & Decker from $130.00 to $150.00 and gave the company an “overweight” rating in a report on Tuesday, June 16th. Bank of America increased their price target on Stanley Black & Decker from $120.00 to $135.00 and gave the company a “neutral” rating in a report on Thursday, May 21st. Finally, TheStreet upgraded Stanley Black & Decker from a “c+” rating to a “b” rating in a report on Monday, July 27th. Five analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $159.88.

Stanley Black & Decker 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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Institutional Ownership by Quarter for Stanley Black & Decker (NYSE:SWK)

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