The industrial sector has been doing very well of late, with the Industrial Select Sector SPDR ETF (NYSEMKT: XLI) up around 28%. That is slightly better than the 26% gain of the S 500 index as a whole. Stanley Black Decker's (NYSE: SWK) share price has traded along with the industrial sector over the past year, but a longer-term look suggests investors will want to buy this stock while it still looks historically cheap. Here's why Stanley Black Decker is an industrial stock to buy even as the industrial sector has performed so well.

Using dividend yield as a rough gauge of valuation helps to show why Stanley Black Decker is attractively priced today. Its 3.4% yield is near the highest levels in recent history, going all the way back to the late 1980s. That's a sign that this industrial stock is on the sale rack.

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Source Fool.com