Sandvik AB (publ) (OTCMKTS:SDVKY) Stock Price Crosses Below 50 Day Moving Average – Here’s What Happened

Sandvik AB (publ) (OTCMKTS:SDVKY)’s share price passed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $21.86 and traded as low as $18.12. Sandvik AB (publ) shares last traded at $18.17, with a volume of 90,672 shares traded.

Wall Street Analysts Forecast Growth

Separately, Sanford C. Bernstein upgraded shares of Sandvik AB (publ) from an “underperform” rating to a “market perform” rating in a research note on Monday, January 6th. One research analyst has rated the stock with a sell rating, one has given a hold rating, one has given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy”.

Sandvik AB (publ) Price Performance

The firm has a market cap of $22.79 billion, a PE ratio of 19.54, a P/E/G ratio of 1.00 and a beta of 1.48. The firm’s fifty day simple moving average is $21.86 and its two-hundred day simple moving average is $20.31. The company has a quick ratio of 0.94, a current ratio of 1.79 and a debt-to-equity ratio of 0.42.

Sandvik AB (publ) (OTCMKTS:SDVKY) last released its earnings results on Thursday, January 23rd. The industrial products company reported $0.30 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.30. Sandvik AB (publ) had a net margin of 9.92% and a return on equity of 16.07%. As a group, research analysts expect that Sandvik AB will post 1.27 EPS for the current year.

Institutional Trading of Sandvik AB (publ)

A hedge fund recently raised its stake in Sandvik AB (publ) stock. Rhumbline Advisers raised its stake in shares of Sandvik AB (publ) (OTCMKTS:SDVKY) by 12.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,707 shares of the industrial products company’s stock after buying an additional 3,607 shares during the quarter. Rhumbline Advisers’ holdings in Sandvik AB (publ) were worth $585,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 0.74% of the company’s stock.

Sandvik AB (publ) Company Profile

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.