Stanley Black & Decker (NYSE:SWK) Trading Up 6.7% After Dividend Announcement

Stanley Black & Decker, Inc. (NYSE:SWK) shares shot up 6.7% during mid-day trading on Friday following a dividend announcement from the company. The stock traded as high as $95.60 and last traded at $95.57. 326,441 shares traded hands during trading, a decline of 77% from the average session volume of 1,399,986 shares. The stock had previously closed at $89.57.

The newly announced dividend which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be paid a $0.82 dividend. This is a boost from Stanley Black & Decker’s previous quarterly dividend of $0.81. This represents a $3.28 annualized dividend and a dividend yield of 3.47%. Stanley Black & Decker’s payout ratio is -469.56%.

Wall Street Analysts Forecast Growth

SWK has been the topic of a number of research reports. Barclays cut shares of Stanley Black & Decker from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $100.00 to $86.00 in a report on Tuesday, June 4th. Wells Fargo & Company reduced their target price on shares of Stanley Black & Decker from $92.00 to $85.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. Finally, Robert W. Baird lowered their target price on Stanley Black & Decker from $82.00 to $80.00 and set a “neutral” rating on the stock in a research report on Thursday, April 18th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $94.67.

Stanley Black & Decker Price Performance

The stock’s fifty day moving average price is $84.72 and its 200-day moving average price is $89.23. The firm has a market cap of $14.55 billion, a price-to-earnings ratio of -138.51, a price-to-earnings-growth ratio of 2.41 and a beta of 1.25. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.09 and a quick ratio of 0.40.

Stanley Black & Decker (NYSE:SWK) last released its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.01. The business had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.83 billion. Stanley Black & Decker had a negative net margin of 0.66% and a positive return on equity of 3.95%. Stanley Black & Decker’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter last year, the firm earned ($0.41) EPS. Equities research analysts predict that Stanley Black & Decker, Inc. will post 3.98 EPS for the current fiscal year.

Insider Transactions at Stanley Black & Decker

In other news, SVP Janet Link sold 3,442 shares of Stanley Black & Decker stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $86.80, for a total value of $298,765.60. Following the transaction, the senior vice president now owns 32,860 shares of the company’s stock, valued at $2,852,248. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SWK. First United Bank & Trust acquired a new position in shares of Stanley Black & Decker during the fourth quarter valued at $25,000. AlphaMark Advisors LLC acquired a new position in Stanley Black & Decker in the second quarter valued at about $32,000. Quarry LP bought a new position in Stanley Black & Decker during the fourth quarter worth about $36,000. Principal Securities Inc. acquired a new stake in shares of Stanley Black & Decker in the 4th quarter valued at approximately $38,000. Finally, Brown Brothers Harriman & Co. grew its holdings in Stanley Black & Decker by 39.3% during the fourth quarter. Brown Brothers Harriman & Co. now owns 496 shares of the industrial products company’s stock valued at $49,000 after purchasing an additional 140 shares during the period. Institutional investors and hedge funds own 87.77% of the company’s stock.

About Stanley Black & Decker

Stanley Black & Decker, Inc provides hand tools, power tools, outdoor products, and related accessories in the United States, Canada, Other Americas, Europe, and Asia. Its Tools & Outdoor segment offers professional grade corded and cordless electric power tools and equipment, including drills, impact wrenches and drivers, grinders, saws, routers, and sanders; pneumatic tools and fasteners, such as nail guns, nails, staplers and staples, and concrete and masonry anchors; corded and cordless electric power tools; hand-held vacuums, paint tools, and cleaning appliances; leveling and layout tools, planes, hammers, demolition tools, clamps, vises, knives, saws, chisels, and industrial and automotive tools; drill, screwdriver, router bits, abrasives, saw blades, and threading products; tool boxes, sawhorses, medical cabinets, and engineered storage solutions; and electric and gas-powered lawn and garden products.