The purchase comes just a day after adding to our position in this industrial-tools-and-household-hardware manufacturer at a similar price.
Our decision to go back to the well comes as home improvement retailer Lowe 's reported quarterly results T uesday. Although Lowe's continues to see softer discretionary spending on do-it-Yourself construction, the company was upbeat around the continued growth in the professional-construction market. That matters more for Stanley Black & Decker because about 70% of its tools business is levered to the professional side.
A customer wearing a protective mask loads lumber at a Home Depot store in Pleasanton, California, Feb. 22, 2021.
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