Stanley Black (SWK) Divests Infrastructure Business for $760M

Zacks04-02

Stanley Black & Decker, Inc. SWK recently announced the completion of the sale of its STANLEY Infrastructure (Infrastructure) business to Epiroc AB for a cash amount of $760 million. The deal was ...

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SWK recently announced the completion of the sale of its STANLEY Infrastructure (Infrastructure) business to Epiroc AB for a cash amount of $760 million. The deal was ...</p>\n\n<a href=\"https://finance.yahoo.com/news/stanley-black-swk-divests-infrastructure-134000537.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4127","symbol_name":"投资银行业与经纪业","start_time":0,"source_url":"https://finance.yahoo.com/news/stanley-black-swk-divests-infrastructure-134000537.html","article_id":"2424110040","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/knmT_zhl4W5gMgUMJIEvBg--~B/aD00MDA7dz02MzU7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/026a08802cd984229bb03e0aefeb2972"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2424110040","pubTimestamp":1712065200,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Stanley Black currently carries a Zacks Rank #3 .Stanley Black has been benefiting from the solid momentum in the engineered fastening business, driven by strength in aerospace and auto end markets. 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SWK recently announced the completion of the sale of its STANLEY Infrastructure (Infrastructure) business to Epiroc AB for a cash amount of $760 million. The deal was announced in December 2023.Based in Sweden, Epiroc AB is a producer of mining and construction equipment. The company is engaged in providing service and other aftermarket support and solutions for automation, digitalization and electrification.The divestment of the Infrastructure Business will help Stanley Black to focus on its core businesses while supporting its capital-allocation priorities. SWK expects to use the cash proceeds of the transaction, net of modest taxes, to reduce its debt.Stanley Black remains open to divesting its non-core operations to unlock value for its shareholders. In July 2022, the company sold its Security Business to Securitas AB for $3.2 billion. Stanley Black funded its debt reduction from the net proceeds of this sale.\nZacks Rank and Price Performance\nStanley Black currently carries a Zacks Rank #3 (Hold).Stanley Black has been benefiting from the solid momentum in the engineered fastening business, driven by strength in aerospace and auto end markets. The company’s global cost-reduction program is expected to aid its bottom line and drive margin performance in the quarters ahead.However, lower consumer outdoor and DIY market demand is a drag on SWK’s Tools & Outdoor segment’s performance. Within the segment, the Outdoor business has also been witnessing customer destocking.In the past year, the stock rose 20.1% compared with the industry’s 32.1% increase.\nImage Source: Zacks Investment Research\nStocks to Consider\nSome better-ranked companies from the Industrial Products sector are discussed below:Belden Inc. BDC presently carries a Zacks Rank #2 (Buy) and a trailing four-quarter earnings surprise of 12.3%, on average. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.BDC’s earnings estimates have remained steady for 2024 in the past 60 days. Shares of Belden have risen 3.5% in the past year.A. O. Smith Corporation AOS presently carries a Zacks Rank of 2. It has a trailing four-quarter average earnings surprise of 12%.The Zacks Consensus Estimate for AOS’ 2023 earnings increased 0.7% in the past 60 days. Shares of A. O. Smith have jumped 29.4% in the past year.Applied Industrial Technologies, Inc. AIT presently has a Zacks Rank of 2. It has a trailing four-quarter average earnings surprise of 10.4%.The Zacks Consensus Estimate for AIT’s fiscal 2024 earnings has increased 1.7% in the past 60 days. The stock has gained 37.4% in the past year.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nStanley Black & Decker, Inc. (SWK) : Free Stock Analysis Report\nA. O. Smith Corporation (AOS) : Free Stock Analysis Report\nApplied Industrial Technologies, Inc. (AIT) : Free Stock Analysis Report\nBelden Inc (BDC) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2424110040"}