Sandvik (OTCMKTS:SDVKY) Hits New 52-Week High – Here’s What Happened

Sandvik AB (OTCMKTS:SDVKY) shares hit a new 52-week high on Wednesday . The company traded as high as $31.12 and last traded at $31.0770, with a volume of 655 shares trading hands. The stock had previously closed at $30.6585.

Analyst Ratings Changes

Several research analysts have recently issued reports on SDVKY shares. Rothschild Redb upgraded shares of Sandvik from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 21st. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Sandvik in a research note on Monday, September 29th. Zacks Research cut Sandvik from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 4th. Pareto Securities cut shares of Sandvik from a “buy” rating to a “hold” rating in a report on Sunday, October 5th. Finally, Citigroup reiterated a “buy” rating on shares of Sandvik in a research report on Tuesday, October 7th. One research 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 company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy”.

Sandvik Price Performance

The company has a quick ratio of 0.86, a current ratio of 1.62 and a debt-to-equity ratio of 0.42. The business has a 50-day moving average price of $28.73 and a two-hundred day moving average price of $25.20. The company has a market capitalization of $38.23 billion, a price-to-earnings ratio of 26.05, a price-to-earnings-growth ratio of 1.53 and a beta of 1.59.

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 company had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $29.69 billion. Sandvik had a net margin of 12.24% and a return on equity of 16.56%. As a group, research analysts anticipate that Sandvik AB will post 1.27 EPS for the current year.

Hedge Funds Weigh In On Sandvik

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SDVKY. Rhumbline Advisers boosted its position in shares of Sandvik by 13.9% in the 1st quarter. Rhumbline Advisers now owns 37,269 shares of the industrial products company’s stock valued at $788,000 after purchasing an additional 4,562 shares during the period. Yousif Capital Management LLC increased 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 buying an additional 3,030 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Sandvik by 24.8% in the 3rd quarter. GAMMA Investing LLC now owns 7,406 shares of the industrial products company’s stock valued at $208,000 after purchasing an additional 1,473 shares during the period. Finally, Salomon & Ludwin LLC increased its position in Sandvik by 3,795.5% during the 3rd quarter. Salomon & Ludwin LLC now owns 857 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 835 shares in the last quarter. 0.74% of the stock is 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.