Stanley Black & Decker is best known for being a manufacturer of hand and power tools. The chances are that we may have used one of the company’s products when doing a DIY project or if we have been to a manufacturing shop floor. Stanley Black & Decker is often part of any discussion about industrial stocks to buy right now. As the world works to put the pandemic behind it and focus on economic recovery, industrial activity is poised to gain pace. The new President in the US is also expected to spend on infrastructure projects which will create demand for industrial businesses. Therefore, now may be a good time to consider stocks like Stanley Black & Decker.
Stanley Black & Decker’s Background And History
Stanley Black & Decker came into being when Stanley merged with Black & Decker and DeWalt tools back in November 2009. However, the origins of the company are in 1920, when Stanley Works came into existence. Over the decades, several acquisitions have been made to give the company a diverse array of products and brands under its belt. The most recent acquisition happened in 2020 when Stanley Black & Decker acquired Consolidated Aerospace Manufacturing, a company that provides fasteners and other components to the aerospace and defense industry. Stanley has product offerings in the DIY market, the industrial market, the security solutions market, and other markets.
Stanley Black & Decker has had a steady revenue growth over the past decade, but it has nearly doubled its earnings per share over the same period. The stock also pays a reasonable dividend. It is certainly one of the best industrial stocks to invest in.
Industrial Stocks To Buy Right Now
Stanley Black & Decker’s stock closed at $172 on 23rd February 2021. At the time, it was trading at a 1.62% dividend yield. The stock was down about 1.2% for the preceding 30 days. Stanley Black & Decker is up about 14.5% on a 1-year basis.
