2024-05-16 08:15:00 ET
With just one quarter down in 2024, Stanley Black & Decker (NYSE: SWK) is finally starting to show some exciting progress on its turnaround plan. That doesn't mean it's complete, not by a long shot. But if you have $500 burning a hole in your pocket and you don't mind taking on a little risk, you'll want to examine this iconic toolmaker and Dividend King and its historically high 3.6% dividend yield. Here's why.
From a big-picture perspective, Stanley Black & Decker's earnings imploded after reaching record levels in 2021, when people were upgrading their homes as they worked from home because of the pandemic. Back then, adjusted earnings rose 30% year over year to $10.48 per share. Over the next two years, however, the industrial company's adjusted earnings plunged to end 2023 at a much less impressive $1.45 per share.
Image source: Getty Images.
For further details see:
The Smartest Turnaround Stock to Buy With $500 Right Now