Sandvik (OTCMKTS:SDVKY) Sets New 1-Year High – Here’s What Happened

Shares of Sandvik AB (OTCMKTS:SDVKY) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $41.33 and last traded at $41.1425, with a volume of 54084 shares trading hands. The stock had previously closed at $39.66.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on SDVKY shares. Barclays reaffirmed an “overweight” rating on shares of Sandvik in a report on Thursday. Zacks Research raised shares of Sandvik from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 22nd. Citigroup reissued a “buy” rating on shares of Sandvik in a research report on Monday, January 12th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Sandvik in a report on Wednesday, October 22nd. Finally, Jefferies Financial Group lowered Sandvik from a “strong-buy” rating to a “hold” rating in a report on Sunday, January 25th. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Sandvik has an average rating of “Buy”.

Sandvik Price Performance

The stock has a market cap of $51.45 billion, a P/E ratio of 33.90, a price-to-earnings-growth ratio of 1.69 and a beta of 1.51. The business’s 50 day moving average price is $33.54 and its two-hundred day moving average price is $29.55. The company has a current ratio of 1.78, a quick ratio of 0.90 and a debt-to-equity ratio of 0.40.

Sandvik (OTCMKTS:SDVKY) last posted its earnings results on Tuesday, January 27th. The industrial products company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). Sandvik had a return on equity of 17.13% and a net margin of 12.16%.The firm had revenue of $3.64 billion for the quarter, compared to analysts’ expectations of $3.38 billion. As a group, sell-side analysts expect that Sandvik AB will post 1.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SDVKY. Salomon & Ludwin LLC lifted its position in shares of Sandvik by 3,795.5% in the third quarter. Salomon & Ludwin LLC now owns 857 shares of the industrial products company’s stock worth $25,000 after buying an additional 835 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Sandvik by 24.8% during the 3rd quarter. GAMMA Investing LLC now owns 7,406 shares of the industrial products company’s stock worth $208,000 after acquiring an additional 1,473 shares in the last quarter. Finally, Yousif Capital Management LLC boosted its position in shares of Sandvik by 15.9% during the 2nd quarter. Yousif Capital Management LLC now owns 22,037 shares of the industrial products company’s stock valued at $502,000 after acquiring an additional 3,030 shares during the last quarter. Institutional investors own 0.74% of the company’s stock.

About Sandvik

Sandvik (OTCMKTS: SDVKY) is a global engineering group headquartered in Sandviken, Sweden, with roots dating back to 1862 when it was founded by Göran Fredrik Göransson. The company designs, manufactures and services advanced products and solutions for the mining and construction industries, metalworking and material technology markets. Sandvik serves customers worldwide with a broad portfolio of industrial products, equipment and aftermarket services.

Sandvik’s core activities span three broad areas: metal-cutting and machining solutions, mining and rock excavation equipment, and specialty materials and components.