Johnston Asset Management Corp Lowers stake in Stanley Black & Decker (SWK)

Stanley Black & Decker (SWK) : Johnston Asset Management Corp reduced its stake in Stanley Black & Decker by 1.4% during the most recent quarter end. The investment management company now holds a total of 348,020 shares of Stanley Black & Decker which is valued at $38,734,626 after selling 4,950 shares in Stanley Black & Decker , the firm said in a disclosure report filed with the SEC on May 2, 2016.Stanley Black & Decker makes up approximately 2.29% of Johnston Asset Management Corp’s portfolio.

Stanley Black & Decker opened for trading at $110.17 and hit $111.33 on the upside on Friday, eventually ending the session at $111.3, with a gain of 0.85% or 0.94 points. The heightened volatility saw the trading volume jump to 7,81,781 shares. Company has a market cap of $16,708 M.

Other Hedge Funds, Including , Nippon Life Insurance Co reduced its stake in SWK by selling 3,656 shares or 17.59% in the most recent quarter. The Hedge Fund company now holds 17,129 shares of SWK which is valued at $1,906,458. Stanley Black & Decker makes up approx 0.05% of Nippon Life Insurance Co’s portfolio. Quantbot Technologies Lp sold out all of its stake in SWK during the most recent quarter. The investment firm sold 10,595 shares of SWK which is valued $1,185,792. Factory Mutual Insurance Co sold out all of its stake in SWK during the most recent quarter. The investment firm sold 38,000 shares of SWK which is valued $4,252,960.Global Thematic Partners reduced its stake in SWK by selling 34,032 shares or 5.39% in the most recent quarter. The Hedge Fund company now holds 597,554 shares of SWK which is valued at $66,878,244. Stanley Black & Decker makes up approx 1.39% of Global Thematic Partners’s portfolio.

On the company’s financial health, Stanley Black & Decker reported $1.28 EPS for the quarter, beating the analyst consensus estimate by $ 0.14 according to the earnings call on Apr 21, 2016. Analyst had a consensus of $1.14. The company had revenue of $2672.10 million for the quarter, compared to analysts expectations of $2566.01 million. The company’s revenue was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.07 EPS.

Many Wall Street Analysts have commented on Stanley Black & Decker. Company shares were Reiterated by Imperial Capital on Apr 22, 2016 to “In-line”, Firm has raised the Price Target to $ 107 from a previous price target of $103 .Company shares were Reiterated by Wunderlich on Apr 21, 2016 to “Buy”, Firm has raised the Price Target to $ 130 from a previous price target of $120 .

Stanley Black & Decker Inc. is a global provider of power and hand tools products and services. The Company provides products and services for various industrial applications mechanical access solutions (automatic doors and commercial locking systems) and electronic security and monitoring systems. The Company’s operating segments include: Construction & Do-It-Yourself (CDIY) Industrial and Security. The CDIY segment consists of the Professional Power Tool Business; the Consumer Products Group which includes outdoor products; the Hand Tools & Storage business and the Fastening & Accessories business. The Industrial segment consists of the Industrial and Automotive Repair (IAR) Engineered Fastening and Infrastructure Businesses. The Security segment consists of the Convergent Security Solutions (CSS) and Mechanical Access Solutions (MAS) businesses.

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