Cardinal Capital Management Inc. lifted its stake in Stanley Black & Decker, Inc. (NYSE:SWK – Free Report) by 4.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 252,315 shares of the industrial products company’s stock after purchasing an additional 9,960 shares during the quarter. Stanley Black & Decker comprises about 1.2% of Cardinal Capital Management Inc.’s holdings, making the stock its 29th largest holding. Cardinal Capital Management Inc.’s holdings in Stanley Black & Decker were worth $23,644,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently made changes to their positions in SWK. Capital Analysts LLC acquired a new stake in Stanley Black & Decker during the first quarter worth $27,000. M&R Capital Management Inc. increased its stake in Stanley Black & Decker by 83.6% during the first quarter. M&R Capital Management Inc. now owns 347 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 158 shares during the last quarter. OLD Mission Capital LLC acquired a new stake in Stanley Black & Decker during the fourth quarter worth $34,000. Achmea Investment Management B.V. acquired a new stake in Stanley Black & Decker during the first quarter worth $36,000. Finally, ICA Group Wealth Management LLC acquired a new stake in Stanley Black & Decker during the fourth quarter worth $37,000. Institutional investors and hedge funds own 90.47% of the company’s stock.
Insiders Place Their Bets
In other Stanley Black & Decker news, SVP Janet Link sold 3,081 shares of Stanley Black & Decker stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $98.76, for a total transaction of $304,279.56. Following the completion of the sale, the senior vice president now directly owns 32,690 shares of the company’s stock, valued at approximately $3,228,464.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.50% of the stock is owned by company insiders.
Stanley Black & Decker Stock Up 0.4 %
Stanley Black & Decker (NYSE:SWK – Get Free Report) last announced its quarterly earnings results on Tuesday, August 1st. The industrial products company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.25. The company had revenue of $4.20 billion during the quarter, compared to the consensus estimate of $4.14 billion. Stanley Black & Decker had a return on equity of 0.26% and a net margin of 4.84%. Stanley Black & Decker’s revenue for the quarter was down 4.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.77 EPS. On average, sell-side analysts anticipate that Stanley Black & Decker, Inc. will post 1 earnings per share for the current fiscal year.
Stanley Black & Decker Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 19th. Shareholders of record on Tuesday, September 5th will be issued a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a yield of 3.68%. This is an increase from Stanley Black & Decker’s previous quarterly dividend of $0.80. The ex-dividend date is Friday, September 1st. Stanley Black & Decker’s payout ratio is 63.78%.
Analyst Ratings Changes
Several research firms have issued reports on SWK. Mizuho raised their target price on Stanley Black & Decker from $90.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 2nd. Wolfe Research cut Stanley Black & Decker from a “peer perform” rating to an “underperform” rating and set a $94.00 price objective for the company. in a research note on Friday, August 11th. Citigroup lifted their price objective on Stanley Black & Decker from $98.00 to $110.00 and gave the company a “neutral” rating in a research note on Wednesday, August 2nd. StockNews.com cut Stanley Black & Decker from a “hold” rating to a “sell” rating in a research note on Friday, August 25th. Finally, Robert W. Baird lifted their price objective on Stanley Black & Decker from $85.00 to $92.00 and gave the company a “neutral” rating in a research note on Wednesday, August 2nd. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $97.36.
About Stanley Black & Decker
Stanley Black & Decker, Inc engages in the tools and storage and industrial businesses in the United States, Canada, rest of Americas, France, rest of Europe, and Asia. Its Tools & Storage segment offers professional products, including professional grade corded and cordless electric power tools and equipment, and pneumatic tools and fasteners; and consumer products, such as corded and cordless electric power tools primarily under the BLACK+DECKER brand, as well as corded and cordless lawn and garden products and related accessories; home products; and hand tools, power tool accessories, and storage products.
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