Nuveen LLC Buys New Position in Stanley Black & Decker, Inc. (NYSE:SWK)

Key Points

• Nuveen LLC has acquired a new stake in Stanley Black & Decker, purchasing 413,781 shares valued at approximately $31.8 million, which represents about 0.27% of the company.
• Stanley Black & Decker recently increased its quarterly dividend from $0.82 to $0.83 per share, resulting in an annualized yield of 4.5%.
• In its latest earnings report, Stanley Black & Decker posted an EPS of $1.08, significantly above expectations, despite a 6.2% decline in revenue year-over-year.

Nuveen LLC purchased a new stake in shares of Stanley Black & Decker, Inc. (NYSE:SWK - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The fund purchased 413,781 shares of the industrial products company's stock, valued at approximately $31,811,000. Nuveen LLC owned about 0.27% of Stanley Black & Decker as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in SWK. Cambridge Investment Research Advisors Inc. increased its stake in Stanley Black & Decker by 18.3% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 19,435 shares of the industrial products company's stock worth $1,494,000 after acquiring an additional 3,009 shares during the last quarter. Kingswood Wealth Advisors LLC acquired a new stake in shares of Stanley Black & Decker during the first quarter worth about $245,000. GAMMA Investing LLC grew its holdings in shares of Stanley Black & Decker by 40.5% during the first quarter. GAMMA Investing LLC now owns 4,521 shares of the industrial products company's stock worth $348,000 after buying an additional 1,304 shares during the last quarter. Private Advisor Group LLC grew its holdings in shares of Stanley Black & Decker by 2.1% during the first quarter. Private Advisor Group LLC now owns 14,441 shares of the industrial products company's stock worth $1,110,000 after buying an additional 292 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in Stanley Black & Decker by 17.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 27,200 shares of the industrial products company's stock valued at $2,079,000 after purchasing an additional 4,128 shares in the last quarter. Hedge funds and other institutional investors own 87.77% of the company's stock.

Analyst Ratings Changes

SWK has been the subject of several research reports. Robert W. Baird lifted their price objective on Stanley Black & Decker from $65.00 to $78.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Wall Street Zen downgraded shares of Stanley Black & Decker from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Wells Fargo & Company lifted their price target on shares of Stanley Black & Decker from $70.00 to $75.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 30th. The Goldman Sachs Group reissued a "neutral" rating and issued a $80.00 target price on shares of Stanley Black & Decker in a research report on Wednesday, July 30th. Finally, Wolfe Research raised shares of Stanley Black & Decker from an "underperform" rating to a "peer perform" rating in a report on Tuesday, July 8th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Stanley Black & Decker has a consensus rating of "Hold" and an average price target of $91.10.

Stanley Black & Decker Trading Down 0.5%

Shares of NYSE SWK opened at $74.07 on Friday. Stanley Black & Decker, Inc. has a 1-year low of $53.91 and a 1-year high of $110.88. The company has a market cap of $11.47 billion, a PE ratio of 23.51, a P/E/G ratio of 1.64 and a beta of 1.16. The company has a current ratio of 1.04, a quick ratio of 0.34 and a debt-to-equity ratio of 0.52. The company has a 50-day moving average of $69.52 and a two-hundred day moving average of $71.88.

Stanley Black & Decker (NYSE:SWK - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The industrial products company reported $1.08 EPS for the quarter, topping the consensus estimate of $0.38 by $0.70. Stanley Black & Decker had a net margin of 3.15% and a return on equity of 7.76%. The company had revenue of $3.95 billion during the quarter, compared to analysts' expectations of $4.01 billion. During the same quarter in the previous year, the company earned $1.09 EPS. Stanley Black & Decker's revenue was down 6.2% on a year-over-year basis. As a group, equities analysts expect that Stanley Black & Decker, Inc. will post 5.16 earnings per share for the current fiscal year.

Stanley Black & Decker Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be issued a dividend of $0.83 per share. This is an increase from Stanley Black & Decker's previous quarterly dividend of $0.82. This represents a $3.32 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date is Tuesday, September 2nd. Stanley Black & Decker's dividend payout ratio is presently 104.13%.

About Stanley Black & Decker

Stanley Black & Decker, Inc engages in the provision of power and hand tools, and related accessories, products, services and equipment for oil and gas, infrastructure applications, commercial electronic security and monitoring systems, healthcare solutions, and mechanical access solutions. It operates through the Tools and Outdoor and Industrial segments.

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