Stanley narrows its focus

Article Excerpt

STANLEY BLACK & DECKER INC. $117 is a buy. The company (New York symbol SWK; Income Portfolio, Manufacturing & Industry sector; Shares outstanding: 163.4 million; Market cap: $19.1 billion; Price-to-sales ratio: 1.2; Dividend yield: 2.7%; TSINetwork Rating: Average; is one of the world’s largest makers of hand and power tools for consumers. In addition to Stanley and Black & Decker, its other top brands include Craftsman and DeWalt. The company is now selling its oil and gas operations, which make equipment for pipeline builders and inspectors, to Pipeline Technique Ltd. This unit’s 2021 revenue of $140 million accounted for just 1% of Stanley’s total revenue. The sale is part of its plan to focus on its main tools and industrial products businesses. Stanley has not yet said how much it will receive. But, the deal will result in a non-cash charge of between $125 million and $200 million. Stanley Black & Decker is a buy. buy…

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