Short Interest in Stanley Black & Decker, Inc. (NYSE:SWK) Rises By 8.7%

Stanley Black & Decker, Inc. (NYSE:SWK) was the recipient of a significant growth in short interest in the month of November. As of November 29th, there was short interest totalling 3,630,000 shares, a growth of 8.7% from the November 14th total of 3,340,000 shares. Currently, 2.4% of the company’s shares are sold short. Based on an average trading volume of 994,100 shares, the days-to-cover ratio is presently 3.7 days.

In other Stanley Black & Decker news, insider Robert H. Raff, Jr. sold 3,661 shares of the business’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $151.36, for a total value of $554,128.96. Following the transaction, the insider now owns 14,099 shares in the company, valued at $2,134,024.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Jaime A. Ramirez sold 16,108 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $158.93, for a total transaction of $2,560,044.44. Following the transaction, the senior vice president now owns 50,856 shares in the company, valued at approximately $8,082,544.08. The disclosure for this sale can be found here. Insiders sold 61,720 shares of company stock worth $9,846,273 in the last 90 days. Corporate insiders own 1.03% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in SWK. Nuveen Asset Management LLC lifted its holdings in shares of Stanley Black & Decker by 14,464.7% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,053,611 shares of the industrial products company’s stock worth $152,362,000 after acquiring an additional 1,046,377 shares during the last quarter. Coho Partners Ltd. purchased a new position in shares of Stanley Black & Decker in the 3rd quarter worth approximately $92,641,000. Marshall Wace North America L.P. grew its position in shares of Stanley Black & Decker by 1,545.7% in the 2nd quarter. Marshall Wace North America L.P. now owns 354,871 shares of the industrial products company’s stock worth $51,318,000 after buying an additional 333,308 shares during the last quarter. Millennium Management LLC grew its position in Stanley Black & Decker by 468.1% during the 3rd quarter. Millennium Management LLC now owns 390,805 shares of the industrial products company’s stock worth $56,436,000 after purchasing an additional 322,009 shares during the last quarter. Finally, Holocene Advisors LP grew its position in Stanley Black & Decker by 56.5% during the 2nd quarter. Holocene Advisors LP now owns 862,176 shares of the industrial products company’s stock worth $124,679,000 after purchasing an additional 311,185 shares during the last quarter. 84.25% of the stock is owned by hedge funds and other institutional investors.

Several brokerages recently issued reports on SWK. Wells Fargo & Co reiterated a “buy” rating on shares of Stanley Black & Decker in a research report on Tuesday, October 15th. Zacks Investment Research cut shares of Stanley Black & Decker from a “hold” rating to a “sell” rating and set a $154.00 price target on the stock. in a research report on Monday, October 14th. Morgan Stanley boosted their price target on shares of Stanley Black & Decker from $158.00 to $171.00 and gave the company an “overweight” rating in a research report on Wednesday. Wolfe Research set a $160.00 price target on shares of Stanley Black & Decker and gave the company a “hold” rating in a research report on Friday, October 25th. Finally, Buckingham Research boosted their price target on shares of Stanley Black & Decker from $150.00 to $157.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the company’s stock. Stanley Black & Decker currently has a consensus rating of “Buy” and an average price target of $165.94.

SWK traded down $3.22 during trading on Friday, hitting $164.54. The company’s stock had a trading volume of 1,869,398 shares, compared to its average volume of 1,038,148. The company has a quick ratio of 0.47, a current ratio of 0.98 and a debt-to-equity ratio of 0.52. Stanley Black & Decker has a one year low of $110.54 and a one year high of $169.54. The firm has a market cap of $25.50 billion, a PE ratio of 20.19, a P/E/G ratio of 2.33 and a beta of 1.40. The business’s 50 day simple moving average is $156.66 and its 200-day simple moving average is $144.91.

Stanley Black & Decker (NYSE:SWK) last released its quarterly earnings results on Thursday, October 24th. The industrial products company reported $2.13 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.03 by $0.10. Stanley Black & Decker had a net margin of 4.80% and a return on equity of 17.10%. The business had revenue of $3.63 billion for the quarter, compared to the consensus estimate of $3.65 billion. During the same period last year, the firm earned $2.08 earnings per share. The company’s quarterly revenue was up 4.0% on a year-over-year basis. Equities research analysts expect that Stanley Black & Decker will post 8.39 EPS for the current fiscal year.

The company 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. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.68%. Stanley Black & Decker’s dividend payout ratio (DPR) is presently 33.87%.

Stanley Black & Decker announced that its Board of Directors has initiated a share buyback program on Thursday, October 24th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the industrial products company to repurchase up to 0.9% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

About Stanley Black & Decker

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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