Stanley Black & Decker (NYSE:SWK) Sets New 52-Week High Following Dividend Announcement

Stanley Black & Decker, Inc. (NYSE:SWK) reached a new 52-week high on Friday after the company announced a dividend. The company traded as high as $105.17 and last traded at $102.87, with a volume of 54,962 shares traded. The stock had previously closed at $103.61.

The newly announced dividend which will be paid on Tuesday, December 22nd. Stockholders of record on Tuesday, December 1st will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Tuesday, December 1st. This represents a $3.36 annualized dividend and a dividend yield of 3.3%. Stanley Black & Decker’s dividend payout ratio (DPR) is currently 81.95%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SWK. Citigroup raised their target price on Stanley Black & Decker from $100.00 to $107.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Mizuho cut their price target on shares of Stanley Black & Decker from $110.00 to $105.00 and set an “outperform” rating on the stock in a report on Thursday, October 15th. Wall Street Zen lowered shares of Stanley Black & Decker from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 24th. Morgan Stanley set a $100.00 price objective on shares of Stanley Black & Decker in a report on Tuesday, October 6th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Stanley Black & Decker in a research report on Thursday. Four research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $94.11.

Stanley Black & Decker Stock Performance

The firm has a market capitalization of $15.47 billion, a PE ratio of 24.99, a P/E/G ratio of 1.49 and a beta of 1.17. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.43 and a quick ratio of 0.55. The company’s fifty day simple moving average is $93.35 and its 200 day simple moving average is $85.50.

Stanley Black & Decker (NYSE:SWK) last released its quarterly earnings data on Wednesday, July 29th. The industrial products company reported $1.57 EPS for the quarter, topping the consensus estimate of $1.21 by $0.36. Stanley Black & Decker had a net margin of 4.07% and a return on equity of 8.78%. The company had revenue of $3.96 billion during the quarter, compared to the consensus estimate of $3.97 billion. During the same period last year, the firm earned $1.08 EPS. Stanley Black & Decker’s revenue for the quarter was up .4% on a year-over-year basis. As a group, equities research analysts expect that Stanley Black & Decker, Inc. will post 5.59 EPS for the current fiscal year.

Hedge Funds Weigh In On Stanley Black & Decker

Large investors have recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in shares of Stanley Black & Decker during the 2nd quarter valued at $1,006,417,000. Nykredit A S bought a new position in Stanley Black & Decker in the 2nd quarter worth about $166,378,000. Confluence Investment Management LLC purchased a new position in Stanley Black & Decker during the 2nd quarter valued at about $126,909,000. Bank of New York Mellon Corp purchased a new position in Stanley Black & Decker during the 2nd quarter valued at about $123,843,000. Finally, Bank of America Corp DE bought a new stake in shares of Stanley Black & Decker during the second quarter valued at about $85,606,000. 87.77% of the stock is owned by institutional investors.

About Stanley Black & Decker

Stanley Black & Decker, Inc is a global manufacturer of tools, outdoor products and related equipment. The company serves professional contractors, industrial customers, do-it-yourself consumers and outdoor enthusiasts through a portfolio that includes power tools, hand tools, storage solutions, accessories, lawn and garden equipment, and other outdoor products.

Its brands include DEWALT, CRAFTSMAN, STANLEY, BLACK+DECKER, Cub Cadet, Hustler and Troy-Bilt. Products are sold through retailers, distributors, e-commerce channels and other commercial outlets, supporting construction, maintenance, manufacturing, automotive repair and residential applications.

The company was formed in 2010 through the merger of The Stanley Works and The Black & Decker Corporation.