Home Improvement
There are new signs of a resilient housing market and a home renovation rebirth with potentially bullish implications for three of our Club names. Shares of Stanley Black & Decker (SWK) and Caterpillar (CAT), whose tools and machinery are used in homebuilding, have been on the upswing in recent weeks. Additionally, after a lull in Covid-driven renovations, many would-be buyers are stuck in their homes due to a housing shortage as well as higher prices and mortgages rating are choosing to upgrade their current digs. Stanley Black & Decker’s brands appeal to Do-It-Yourself (DIY) folks as well as pro contractors and builders. On the decorating side for new homes and after renovations, TJX Companies’ (TJX) HomeGoods chain stands to benefit even more than during the pandemic because rivals Bed Bath & Beyond went bankrupt. Shares of SWK and CAT were trading up about 18% and 14%, respectively, over the past
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