Stanley Black Stock Price, News & Analysis

Stanley Black & Decker (NYSE: SWK) will present at the 2022 Wells Fargo Industrials Conference on May 4, 2022, at 11:20 AM ET. The presentation will be led by CEO Jim Loree, and interested parties can access the live webcast through the Investors section of the company's website. A replay will also be available for 30 days after the event. Stanley Black & Decker is a leading global tool company with an extensive portfolio of brands.

Stanley Black & Decker (NYSE: SWK) has declared a cash dividend of $0.79 per common share for the second quarter, payable on June 21, 2022, to shareholders on record as of June 7, 2022. This dividend extends the company's record for the longest consecutive annual and quarterly dividend payments among industrial firms on the NYSE. Stanley Black & Decker operates nearly 50 manufacturing facilities in the USA and over 100 globally, producing well-known brands including DEWALT and BLACK+DECKER.

Allegion (NYSE: ALLE) has announced its agreement to acquire Stanley Access Technologies LLC from Stanley Black & Decker (NYSE: SWK) for $900 million, with an effective value of $810 million after tax benefits. This strategic purchase aims to enhance Allegion's access solutions portfolio, adding a leader in automatic entrance solutions and enabling expansion into high-growth markets. Access Technologies reported $340 million in 2021 net sales. The acquisition is expected to close in Q3 2022, aligning with Allegion's broader business growth strategy.

Stanley Black & Decker (NYSE: SWK) has agreed to sell its Access Technologies business to Allegion plc (NYSE: ALLE) for $900 million in cash. This division generated approximately $340 million in revenue in 2021. CEO James Loree emphasized that the sale is part of a strategy to enhance shareholder value and focus on core business segments, including Tools & Outdoor and Industrial. The proceeds will fund share repurchases and reduce debt. The transaction is subject to regulatory approval and is expected to affect Q1 results reported on April 28, 2022.

Stanley Black & Decker (NYSE: SWK) has announced a sponsorship deal for the 2022 MLB season, naming its CRAFTSMAN brand as the official tools sponsor for six teams: Boston Red Sox, New York Mets, Miami Marlins, Cleveland Guardians, Cincinnati Reds, and Oakland Athletics. This marks the 14th year of the company's partnership with MLB, aiming to showcase CRAFTSMAN's reliability to millions of fans. The sponsorship includes stadium signage and various VIP experiences to engage tradespeople across the country.

Stanley Black & Decker (NYSE: SWK) released findings from its inaugural Makers Index, highlighting a skilled trades shortage in the U.S. Despite 85% of youths and 94% of parents recognizing trades as good careers, only 49% have considered them, and just 16% are very likely to do so. Key factors include misconceptions about income potential, outdated views on technology in trades, and lack of engagement with trade professionals. The CEO emphasized the need for increased career education to attract the next generation of skilled workers amidst 650,000 open positions in construction.

Stanley Black & Decker (NYSE: SWK) announced the first cohort of its Empower Makers Global Impact Challenge, awarding $3 million in grants and $1 million in tools to support workforce development initiatives. This initiative aims to empower 180,000 individuals through vocational skills training in the construction and manufacturing sectors. The total commitment of $25 million over five years seeks to skill and reskill 3 million makers. The program highlights the critical need for skilled labor, addressing an estimated 650,000 open construction jobs in 2022.

Stanley Black & Decker (NYSE: SWK) will hold its first quarter 2022 earnings conference call on April 28, 2022, at 8:00 AM ET. A financial results release will be issued before market opening on the same day. The accompanying slide presentation will be available on the company's website. Investors can access the call via webcast or by phone. The company is recognized as the world's largest tool manufacturer, operating nearly 50 manufacturing facilities in the U.S. and over 100 globally, producing various innovative products under brands like DEWALT and BLACK+DECKER.

BLACK+DECKER's dustbuster® AdvancedClean™ Slim Cordless Hand Vacuum (HLVC315B10) was honored with the Best Hand Vacuum award by Better Homes & Gardens as part of the 2022 Clean House Awards. This recognition highlights the product's innovation, ease of use, and effectiveness. BLACK+DECKER has a long legacy of innovation in the handheld vacuum market, dating back to the original dustbuster's launch in 1979, which was revolutionary for its time. The award is featured in the April issue of Better Homes & Gardens, emphasizing the brand's commitment to quality and customer satisfaction.