Latest news with #StanleyBlack&Decker
Yahoo
20 hours ago
- Automotive
- Yahoo
A Trump Tariff Case Study: Can the U.S. Again Be the Power Tool King?
My DeWalt 20-volt cordless drill/driver combo set is a beaut—powerful, smooth, comfortable in the hand, and not too expensive; I got it on sale for about a hundred bucks. It's also a tribute to the wonders of the transnational supply chain, its components traversing the earth before they came together and found their way to my door. The drill and driver were made in Mexico, but their batteries were made in China, as were the battery charger and the handy tote bag that came with it. DeWalt, a brand familiar to every woodworker and DIY enthusiast, is a division of Stanley Black & Decker, a global conglomerate headquartered in Connecticut that owns brands including Craftsman, Porter-Cable, Bostitch, and many others. In 2024, it sold $15.4 billion worth of tools. While the company does some domestic manufacturing, its power tools—drills, saws, routers, and the like—are all made abroad. The same is true of most of the power tool brands you'll find at your local Home Depot or Lowe's; many started as American companies but are now part of multinational corporations that do little manufacturing in the United States. Your Milwaukee reciprocating saw and Ryobi sander may sound like they come from the U.S. and Japan, but both companies are owned by Techtronic Industries, which is headquartered in Hong Kong. Your dad called his circular saw a 'skilsaw,' but Skil is now owned by Chervon, a Chinese company. This is just the kind of industrial production President Trump would love to bring back to the U.S., and that, he assures us, tariffs will produce. It's part of a vision for what the American economy should be, where we make stuff again, a world-leading industrial machine humming with capability and power. That goal is shared across the political spectrum; you'd be hard-pressed to find a politician of either party who would say we shouldn't make more things in America. Unfortunately, there are serious impediments to achieving reindustrialization on a large scale, and Trump's policies are just about the worst way to go about it. The woodworking tool industry—what it is today and how it has changed in recent decades—offers a revealing window into the obstacles this effort will face. As a hobbyist woodworker for the last 20 years, I've accumulated a lot of tools. If you asked how many I have, I'd echo the quip gun owners often say: more than I need, but not as many as I want. A tour through my shop goes around the world—a couple of Japanese handsaws, a chisel set from the Czech Republic, a sander made by a German company but built in Malaysia, a table saw blade from Italy. The big machines—the table saw, jointer, and planer (the latter two are used for flattening and truing boards)—have American brand names but were built in Taiwan, which for years has been the place toolmakers go to find the skilled but relatively inexpensive labor that allows them to produce tools at lower cost than they can domestically. And lots of knickknacks from China. When I started woodworking 25 years ago, Chinese tools were mostly junk. That's no longer true; as in so many industries, the quality of Chinese manufacturing has rapidly improved, to the point where some of what is produced there is on par in quality with what is made in Europe or the U.S.—if those products are made in the U.S. at all. So what woodworking tools are still made here? The big companies may make some accessories here, but for the most part, the industry is confined to small manufacturers of relatively high-priced, niche products that don't even try to compete on price. For instance, I own a nice hand plane made by WoodRiver, the house brand of the retail chain Woodcraft; right now it sells for around $175. It was made in China, but it's solid quality, unlike some Chinese planes you can get on Amazon for 50 bucks. If you want to buy a similar American plane, you can get one from Lie-Nielsen, which does its manufacturing in Maine. It will cost you $385. I like my plane, but I'm told that using a Lie-Nielsen plane is almost a religious experience. When I told Deneb Puchalski of Lie-Nielsen about my plane, he scoffed. 'You know what that WoodRiver is? That is a direct copy of a Lie-Nielsen plane,' but made in China with cheaper labor and less exacting standards. There are other manufacturers that have carved out a similar space in the market. Woodpeckers, which manufactures in Ohio, makes measuring and marking tools, along with a variety of jigs and fixtures. It is considered the gold standard of quality; if you need a combination square that's accurate to 0.001 inches and has a host of innovative features, that's the brand you'd choose. It will also cost you $179.99. The last combination square I bought was made by Irwin Tools, which has been bought and sold many times since it was founded in 1885. Today, Irwin is another subsidiary of Stanley Black & Decker. My basic Irwin square, which was made in China, cost me $15. It may not spark joy, but it works the major spending bills Joe Biden signed—the Inflation Reduction Act, the CHIPS and Science Act, the bipartisan infrastructure law—his administration fashioned an industrial policy built on manufacturing, centered on both critical technologies such as semiconductors and 'place-based' interventions targeting struggling areas to create high-tech centers that could spur an area-wide revival. It may be some time before we know just how successful that strategy was (and it may depend on how much of it Trump decides to dismantle). But it was focused and limited. If we decided that we wanted to reshore production of a wider variety of goods—including something like power tools—could we do it? The answer is a qualified yes: We could, but it would have to be done methodically, and it would take a long time—years or even decades. The Chinese manufacturing system that today seems so powerful developed over an extended period, through a combination of determination, substantial government support, and an almost limitless supply of inexpensive labor. A retired manufacturing engineer told me that when his company began moving production to China two decades ago, they encountered a mirror image of their domestic challenges: When they needed to make an alteration to their domestic U.S. production, the key question was whether more labor would be involved; material costs were trivial in comparison. Their Chinese partners were only concerned about material costs and dismissed any concerns about labor; they could always hire plenty of workers for very little. Over time, China developed integrated manufacturing hubs that enable quick production of things like power tools: a company that makes motors, another company that makes injection molds, another that makes springs and screws, all working together and ready to contract with large corporations to produce their products. We still have that kind of integrated system in some sectors like autos, but much of it has departed. As for woodworking equipment, 'very little of it is made in the United States anymore, because the companies that made that stuff took their manufacturing overseas so they didn't have to pay American wages,' says Puchalski. We could rebuild those manufacturing ecosystems in the U.S., but we can't just wish it into existence. 'It took time to send all this stuff over to China, and it's going to take time to retrieve it all,' says economist Susan Helper of Case Western University, who served in senior roles in the Obama and Biden administrations, including managing industrial strategy. Tariffs can play a role in that process, but they would have to be carefully designed and predictable enough to allow businesses to do long-term planning. They would have to remain in place to give the domestic industry time to develop, and account for the fact that even American manufacturers often need to import materials from overseas. Lie-Nielsen, for instance, gets iron ore from Canada. 'Sourcing material is always an issue, particularly with the political environment today. That could become crippling' if tariffs go too high, Puchalski says. 'Companies like ours that are relatively small are going to be hit the hardest.' Since foreign labor will be cheaper than American labor for the foreseeable future, any domestic manufacturer that wants to be competitive on price will have to get more out of each worker, which means automation. And that means creating fewer jobs than we might like. The Trump administration has circled around that problem. 'President Trump is interested in the jobs of the future, not the jobs of the past,' said Treasury Secretary Scott Bessent recently. 'We don't need to necessarily have a booming textile industry like where I grew up again, but we do want to have precision manufacturing and bring that back.' Precision manufacturing can offer good jobs, but not as many. In fact, this entire debate seems animated by a vision of a bygone time. 'Manufacturing jobs in the past have been good jobs,' says Susan Helper. 'I think that's less to do with something inherent in the nature of manufacturing and more to do with the time period in which the U.S. became a manufacturing power, which was also one in which unions were able to organize.' That ensured good wages and benefits. But the 'manufacturing wage premium'—the degree to which factory workers make higher wages than similar workers in other kinds of jobs—'has eroded quite significantly.' Not only that, she adds, 'it was never true that all manufacturing jobs were good jobs. Some of them were pretty terrible.' Just ask the women of the Triangle Shirtwaist Factory. Without unions, working in a factory isn't necessarily better than working in a Walmart or a Starbucks. And if we aren't talking about vital national security interests (relevant in the case of, say, semiconductors), there may be a limit to how much we want to invest in bringing production of goods like power tools back to the U.S., especially if it means drastically higher prices in the short run. Businesses will respond rationally to the incentives they have. Executives at Stanley Black & Decker said on their latest earnings call that they are migrating some of their manufacturing—the products destined for the U.S.—away from China to mitigate the risks associated with ongoing trade tensions. They didn't say where they were migrating it to, but Mexico—where my drills were made—is a good bet. At the end of our conversation, I told Puchalski that I've always wanted a Lie-Nielsen plane, but the purchase has been stuck in the 'someday' category. 'Someday could be tomorrow,' he said, assuring me that once I got one of their gorgeous American-made tools, I'd never go back. I'm sure he's right, but I haven't been able to bring myself to spend the money just yet.
Yahoo
4 days ago
- Business
- Yahoo
1 S&P 500 Stock to Keep an Eye On and 2 to Keep Off Your Radar
The S&P 500 (^GSPC) is home to the biggest and most well-known companies in the market, making it a go-to index for investors seeking stability. But not all large-cap stocks are created equal - some are struggling with slowing growth, declining margins, or increased competition. Some large-cap stocks are past their peak, and StockStory is here to help you separate the winners from the laggards. That said, here is one S&P 500 stock that could deliver good returns and two that may struggle. Market Cap: $10.12 billion With an iconic 'STANLEY' logo which has remained virtually unchanged for over a century, Stanley Black & Decker (NYSE:SWK) is a manufacturer primarily catering to the tool and outdoor equipment industry. Why Do We Steer Clear of SWK? Absence of organic revenue growth over the past two years suggests it may have to lean into acquisitions to drive its expansion Incremental sales over the last five years were much less profitable as its earnings per share fell by 11% annually while its revenue grew Capital intensity has ramped up over the last five years as its free cash flow margin decreased by 8.7 percentage points Stanley Black & Decker is trading at $65.51 per share, or 12.2x forward P/E. Check out our free in-depth research report to learn more about why SWK doesn't pass our bar. Market Cap: $31.03 billion With a research department that makes over 10,000 property updates daily to its 35-year-old database, CoStar Group (NASDAQ:CSGP) provides comprehensive real estate data, analytics, and online marketplaces for commercial and residential properties in the U.S. and U.K. Why Does CSGP Fall Short? Efficiency has decreased over the last five years as its adjusted operating margin fell by 23.6 percentage points Earnings per share fell by 4% annually over the last five years while its revenue grew, showing its incremental sales were much less profitable Capital intensity has ramped up over the last five years as its free cash flow margin decreased by 23.7 percentage points At $72.82 per share, CoStar trades at 69.2x forward P/E. Read our free research report to see why you should think twice about including CSGP in your portfolio, it's free. Market Cap: $25.66 billion Started as a mail-order tractor parts business, Tractor Supply (NASDAQ:TSCO) is a retailer of general goods such as agricultural supplies, hardware, and pet food for the rural consumer. Why Are We Positive On TSCO? Rapidly increasing store base reflects a desire to sell in new markets and scale quickly Estimated revenue growth of 5.6% for the next 12 months implies its momentum over the last six years will continue Market-beating returns on capital illustrate that management has a knack for investing in profitable ventures Tractor Supply's stock price of $48.63 implies a valuation ratio of 21.9x forward P/E. Is now the time to initiate a position? Find out in our full research report, it's free. Market indices reached historic highs following Donald Trump's presidential victory in November 2024, but the outlook for 2025 is clouded by new trade policies that could impact business confidence and growth. While this has caused many investors to adopt a "fearful" wait-and-see approach, we're leaning into our best ideas that can grow regardless of the political or macroeconomic climate. Take advantage of Mr. Market by checking out our Top 6 Stocks for this week. This is a curated list of our High Quality stocks that have generated a market-beating return of 183% over the last five years (as of March 31st 2025). Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-small-cap company Comfort Systems (+782% five-year return). Find your next big winner with StockStory today for free.
Yahoo
28-05-2025
- Business
- Yahoo
DEWALT Awards Scholarships to Fund Trade Education
Cost of trade school is a key barrier for nearly half of pre-apprentices joining the trades, according to a recent DEWALT survey Scholarships will help fund trade education in fields including carpentry, welding and more TOWSON, Md., May 28, 2025 /PRNewswire/ -- According to a recent survey from DEWALT, a Stanley Black & Decker (NYSE: SWK) brand and leader in total jobsite solutions, almost one-half of pre-apprentices are concerned with the cost of school. To help students on their journey in the skilled trades, DEWALT today is announcing the recipients of its 2025 DEWALT Trades Scholarship, a program that supports trade education in fields ranging from electrical to carpentry. This year, the program awarded $190,000 in scholarships to 38 students across the U.S. and Canada. The 2025-2026 scholarship recipients represent future tradespeople who will fill critical roles in the industry. The students reside in 24 states and three provinces in Canada and are pursuing 12 different trade careers including electrical, carpentry, construction, HVAC, and welding. "For more than a century, DEWALT has been committed to supporting the trades," said James Oh, President and General Manager of DEWALT. "As the need for skilled labor continues to rise*, we are helping empower the next generation of tradespeople with the resources they need to become leaders on the jobsite. Whether you're just graduating high school or changing careers to join the trades, DEWALT is committed to supporting you on your journey." The annual scholarship program is part of DEWALT's Grow the Trades initiative, a $30 million commitment over five years to close the skilled trades gap in the U.S. To date, DEWALT has awarded nearly $20 million in scholarships, grants, tools and other resources for trades training. 2025 DEWALT Scholar Spotlights: Robert MendezRobert Mendez is an aspiring diesel technician from Saint Augustine, Florida who decided to leave his corporate career behind for a fulfilling future in the trades. "I am contributing to industries that make a real-world difference in everyday people's lives - like logistics, farming, construction, and more," said Mendez. Gretta ViethsAfter years of working desk jobs, Gretta Vieths chose to change her career path and pursue electrical construction and maintenance at the Dakota County Technical College in Rosemount, Minnesota. "I feel like I am regaining a new purpose in life and rediscovering my mental and physical potential," said Vieths. "The decision to switch careers to a construction trade has been empowering, and has allowed me to see a future full of opportunities that will broaden my perspective on life and expand my capability horizons. Learning a skill that's in high demand makes me optimistic that I'll never feel 'stuck' in my career field." Julian SimmonsJulian Simmons is simultaneously working as a part-time HVAC technician and studying HVAC and Refrigeration at the Guilford Technical Community College in Jamestown, North Carolina. He hopes to assume a leadership role in the company one day and eventually own his own HVAC business. "Earning my degree in HVAC opens the door to a rewarding career with strong job security, hands-on work, and the opportunity to make a tangible difference in people's daily lives," said Simmons. "It also provides a fast track to stable and lucrative income without the burden of student debt." Haley DebumHaley Debum's passion for cars led her to her study of automotive technology at the Arapahoe Community College in Littleton, Colorado. When she's not learning about cars at school, she's putting her skills to practice at the car dealership where she works. "Choosing a career in the trades has empowered me to break gender stereotypes, gain hands-on experience, and build confidence for when I continue my future in automotive technology," said Debum. "Earning the DEWALT Trades Scholarship not only fuels my passion but also reinforces the importance of skilled trades in our world and shows the incredible support I have by my side that motivates me even more." To learn more about DEWALT's Grow the Trades initiative, visit: * About DEWALTDEWALT, a Stanley Black & Decker brand, is a leader in total jobsite solutions. For more than 100 years, DEWALT has been powering the future of construction with tools and technologies that have been designed, built and tested to help deliver safety and productivity on every jobsite. For more information, visit or follow DEWALT on Facebook, Instagram, and LinkedIn. About Stanley Black & DeckerFounded in 1843 and headquartered in the USA, Stanley Black & Decker (NYSE: SWK) is a worldwide leader in Tools and Outdoor, operating manufacturing facilities globally. The Company's approximately 48,000 employees produce innovative end-user inspired power tools, hand tools, storage, digital jobsite solutions, outdoor and lifestyle products, and engineered fasteners to support the world's builders, tradespeople and DIYers. The Company's world class portfolio of trusted brands includes DEWALT®, CRAFTSMAN®, STANLEY®, BLACK+DECKER®, and Cub Cadet®. To learn more visit: or follow Stanley Black & Decker on Facebook, Instagram, LinkedIn and X. View original content to download multimedia: SOURCE DEWALT Sign in to access your portfolio
Bloomberg
22-05-2025
- Business
- Bloomberg
Tariff Truce Is $1 Billion Relief for Stanley and Lawn Tool Customers
To get Industrial Strength delivered directly to your inbox, sign up here. How's this for a Memorial Day special: President Donald Trump's tariff truce with China will save power tool and lawn mower manufacturer Stanley Black & Decker Inc. more than $1 billion if it holds.
Yahoo
21-05-2025
- Business
- Yahoo
5 Dividend Kings with sky-high yields above 4%
Dividend investing can be a great way to generate passive income from your investment portfolio, but identifying the best dividend stocks can be a tricky process. One approach involves looking at the stocks that qualify as Dividend Kings, which means they've increased their dividend for at least 50 consecutive years. In general, Dividend Kings have been successful companies that generate consistent profits for their shareholders that they share in the form of dividends. Here are five Dividend Kings that have yields above 4 percent as of May 2025. If you're looking for ways to generate income from your investment portfolio, it may make sense to work with a financial advisor. To get started, Bankrate's AdvisorMatch tool can help you find an advisor in your area. Company Dividend yield Altria Group (MO) 6.86 percent Stanley Black & Decker (SWK) 4.64 percent Target Corp. (TGT) 4.57 percent PepsiCo (PEP) 4.32 percent Archer-Daniels-Midland (ADM) 4.08 percent Note: Yield data as of May 20, 2025. Altria is the name behind Marlboro cigarettes, one of the most recognized and popular tobacco brands in the world, and the company also owns a sizable stake in Anheuser-Busch InBev. Altria's management has stated for years that it intends to pay out the vast majority of its earnings as dividends. Market cap: $100.2 billion Dividend yield: 6.86 percent Stanley Black & Decker is a global provider of hand tools, power tools, outdoor products and accessories. The company generated 2024 revenue of $15.4 billion. The company says it is committed to returning capital to shareholders through a strong and growing dividend, as well as opportunistic share repurchases. Market cap: $10.9 billion Dividend yield: 4.64 percent Target is one of the largest retailers in the U.S. and aims to offer differentiated merchandise and everyday essentials at discounted prices for its customers. The Minneapolis-based company generated $106.6 billion in revenue during its 2024 fiscal year. Market cap: $44.5 billion Dividend yield: 4.57 percent Need an advisor? Need expert guidance when it comes to managing your investments or planning for retirement? can connect you to a CFP® professional to help you achieve your financial goals. PepsiCo is a global food and beverage company that owns a portfolio of well-known brands, such as Pepsi-Cola, Mountain Dew, Gatorade, Lay's, Dorito's, Cheetos, Quaker and more. The company sells to consumers in more than 200 countries and territories. Market cap: $180.7 billion Dividend yield: 4.32 percent Archer-Daniels-Midland is a global agricultural supply chain manager and processor that processes various agricultural products for industries, such as food and beverage, industrial, animal feed and more. The company generated $85.5 billion in revenue during 2024. Market cap: $24.0 billion Dividend yield: 4.08 percent Dividend stocks are a great way to generate investment income while still having the potential for growth. There are generally two ways to invest in dividend stocks. Buy stocks that pay dividends: Many stocks pay dividends to shareholders, and it can be rewarding to own individual stocks. However, you'll want to make sure you understand each company before buying shares. Dividends aren't guaranteed, and you'll have more risk if you just own a few stocks compared to a diversified fund. Buy dividend funds: Dividend funds invest in stocks that pay dividends, essentially doing the research for you. Dividend funds tend to focus on stocks with either high dividend yields, or growing dividends. The best dividend funds often come with low expense ratios, which means more of the return ends up in your pocket. Dividend stocks can be a great choice for investors seeking investment income, and Dividend Kings have consistently increased their payouts over the course of 50 years or more. If you're looking for more ways to generate income from your investments, you may want to consult with a financial advisor, who can help you devise a plan based on your risk tolerance, time horizon and individual needs. Editorial Disclaimer: All investors are advised to conduct their own independent research into investment strategies before making an investment decision. In addition, investors are advised that past investment product performance is no guarantee of future price appreciation. Sign in to access your portfolio
