Stanley Black & Decker CEO sees gross margins increasing

In an interview on CNBC’s Mad Money, Donald Allan, Jr. said Stanley Black & Decker (SWK) will be around 30% gross margins exiting 2024, heading to 32%-35% a year later. As the market gets stronger, the company will be more prepared to take advantage, he added. The dividend is a “really important story” to the company’s shareholders, and it will aim to sustain and increase it, he noted. He considers Home Depot (HD) and Lowes (LOW) “incredibly important” customers.