Sandvik (OTCMKTS:SDVKY) Reaches New 1-Year High – Here’s Why

Sandvik AB (OTCMKTS:SDVKY) reached a new 52-week high during trading on Thursday . The company traded as high as $31.92 and last traded at $31.8150, with a volume of 4041 shares changing hands. The stock had previously closed at $30.49.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SDVKY. Citigroup restated a “buy” rating on shares of Sandvik in a research note on Tuesday, October 7th. Zacks Research lowered Sandvik from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 4th. Barclays reiterated an “overweight” rating on shares of Sandvik in a report on Wednesday, December 3rd. Pareto Securities lowered Sandvik from a “buy” rating to a “hold” rating in a research report on Sunday, October 5th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Sandvik in a research note on Monday, December 8th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy”.

Sandvik Stock Performance

The company has a current ratio of 1.78, a quick ratio of 0.90 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $39.78 billion, a price-to-earnings ratio of 27.10, a PEG ratio of 1.63 and a beta of 1.52. The stock’s 50 day moving average price is $30.12 and its two-hundred day moving average price is $26.71.

Sandvik (OTCMKTS:SDVKY) last announced its quarterly earnings results on Monday, October 20th. The industrial products company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.02). The business had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $29.69 billion. Sandvik had a net margin of 12.24% and a return on equity of 16.30%. On average, analysts forecast that Sandvik AB will post 1.27 EPS for the current year.

Institutional Investors Weigh In On Sandvik

Several hedge funds have recently modified their holdings of SDVKY. Salomon & Ludwin LLC increased its position in shares of Sandvik by 3,795.5% during the third quarter. Salomon & Ludwin LLC now owns 857 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 835 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Sandvik by 24.8% in the third quarter. GAMMA Investing LLC now owns 7,406 shares of the industrial products company’s stock worth $208,000 after purchasing an additional 1,473 shares during the period. Yousif Capital Management LLC grew its holdings in Sandvik by 15.9% during the second quarter. Yousif Capital Management LLC now owns 22,037 shares of the industrial products company’s stock worth $502,000 after acquiring an additional 3,030 shares during the period. Finally, Rhumbline Advisers raised its position in shares of Sandvik by 13.9% during the first quarter. Rhumbline Advisers now owns 37,269 shares of the industrial products company’s stock worth $788,000 after purchasing an additional 4,562 shares during the period. 0.74% of the stock is currently owned by hedge funds and other institutional investors.

About Sandvik

Sandvik AB (publ), an engineering company, provides products and solutions for mining and rock excavation, metal cutting, and materials technology worldwide. The company offers mining and rock excavation equipment, including drill rigs and bolters, underground loaders and trucks, mechanical cutting equipment, rock tools and rock drills, and mining automation; rock processing equipment, such as crushers, screens, hydraulic breakers, demolition tools, and breaker booms.