Meyer Handelman Co. Trims Stock Position in Stanley Black & Decker, Inc. (NYSE:SWK)

Meyer Handelman Co. decreased its stake in Stanley Black & Decker, Inc. (NYSE:SWK) by 14.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 78,668 shares of the industrial products company’s stock after selling 13,144 shares during the quarter. Meyer Handelman Co. owned approximately 0.05% of Stanley Black & Decker worth $8,664,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SWK. Valeo Financial Advisors LLC purchased a new position in shares of Stanley Black & Decker during the 3rd quarter valued at approximately $229,000. Fiduciary Financial Group LLC purchased a new position in Stanley Black & Decker in the third quarter valued at $301,000. Livforsakringsbolaget Skandia Omsesidigt raised its position in shares of Stanley Black & Decker by 460.5% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 852 shares of the industrial products company’s stock worth $94,000 after acquiring an additional 700 shares during the period. UMB Bank n.a. grew its position in shares of Stanley Black & Decker by 4.7% during the 3rd quarter. UMB Bank n.a. now owns 2,118 shares of the industrial products company’s stock valued at $233,000 after acquiring an additional 96 shares during the period. Finally, CWM LLC increased its stake in shares of Stanley Black & Decker by 124.5% in the 3rd quarter. CWM LLC now owns 14,936 shares of the industrial products company’s stock valued at $1,645,000 after purchasing an additional 8,283 shares in the last quarter. 87.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on SWK. The Goldman Sachs Group raised their price objective on Stanley Black & Decker from $94.00 to $107.00 and gave the company a “neutral” rating in a report on Thursday. Robert W. Baird lifted their price target on shares of Stanley Black & Decker from $78.00 to $80.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Morgan Stanley started coverage on shares of Stanley Black & Decker in a research report on Friday, September 6th. They set an “equal weight” rating and a $107.00 price objective for the company. JPMorgan Chase & Co. boosted their target price on shares of Stanley Black & Decker from $80.00 to $88.00 and gave the stock an “underweight” rating in a research note on Monday, August 5th. Finally, Barclays raised their price target on shares of Stanley Black & Decker from $96.00 to $100.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $103.13.

Insider Activity

In related news, SVP Janet Link sold 13,520 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $103.91, for a total value of $1,404,863.20. Following the transaction, the senior vice president now directly owns 31,960 shares in the company, valued at approximately $3,320,963.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.50% of the company’s stock.

Stanley Black & Decker Trading Up 1.0 %

SWK opened at $107.96 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.27 and a quick ratio of 0.42. The company’s 50 day simple moving average is $101.59 and its two-hundred day simple moving average is $93.03. The firm has a market capitalization of $16.61 billion, a price-to-earnings ratio of -156.46, a price-to-earnings-growth ratio of 2.84 and a beta of 1.24. Stanley Black & Decker, Inc. has a 1-year low of $76.57 and a 1-year high of $110.88.

Stanley Black & Decker (NYSE:SWK) last released its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.25. Stanley Black & Decker had a positive return on equity of 6.06% and a negative net margin of 1.87%. The company had revenue of $4.02 billion for the quarter, compared to analyst estimates of $4.02 billion. During the same quarter in the previous year, the company posted ($0.11) earnings per share. The firm’s revenue for the quarter was down 3.2% compared to the same quarter last year. Analysts expect that Stanley Black & Decker, Inc. will post 4.17 EPS for the current fiscal year.

Stanley Black & Decker Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were issued a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 3.04%. This is a positive change from Stanley Black & Decker’s previous quarterly dividend of $0.81. The ex-dividend date of this dividend was Tuesday, September 3rd. Stanley Black & Decker’s payout ratio is presently -475.36%.

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.