Sandvik (OTCMKTS:SDVKY) Hits New 52-Week High – Time to Buy?

Shares of Sandvik AB (OTCMKTS:SDVKY) hit a new 52-week high during trading on Tuesday . The company traded as high as $31.17 and last traded at $31.13, with a volume of 26996 shares. The stock had previously closed at $30.94.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Barclays reaffirmed an “overweight” rating on shares of Sandvik in a report on Wednesday, December 3rd. Pareto Securities cut Sandvik from a “buy” rating to a “hold” rating in a research note on Sunday, October 5th. Zacks Research lowered Sandvik from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 4th. Royal Bank Of Canada reissued an “outperform” rating on shares of Sandvik in a research report on Wednesday, October 22nd. Finally, Rothschild Redb upgraded Sandvik from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Sandvik has an average rating of “Moderate Buy”.

Sandvik Trading Up 0.6%

The company has a quick ratio of 0.90, a current ratio of 1.78 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $39.05 billion, a price-to-earnings ratio of 26.61, a P/E/G ratio of 1.55 and a beta of 1.52. The company’s 50 day simple moving average is $29.72 and its two-hundred day simple moving average is $26.27.

Sandvik (OTCMKTS:SDVKY) last released its 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). Sandvik had a net margin of 12.24% and a return on equity of 16.30%. The firm had revenue of $3.10 billion during the quarter, compared to analyst estimates of $29.69 billion. As a group, research analysts anticipate that Sandvik AB will post 1.27 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sandvik

Institutional investors have recently added to or reduced their stakes in the stock. Salomon & Ludwin LLC raised its position in shares of Sandvik by 3,795.5% during the 3rd quarter. Salomon & Ludwin LLC now owns 857 shares of the industrial products company’s stock valued at $25,000 after buying an additional 835 shares during the period. GAMMA Investing LLC raised its stake in shares of 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 acquiring an additional 1,473 shares during the period. Yousif Capital Management LLC lifted its holdings in shares of Sandvik by 15.9% in the 2nd 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 last quarter. Finally, Rhumbline Advisers boosted its position in shares of Sandvik by 13.9% during the 1st 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. Hedge funds and other institutional investors own 0.74% of the company’s stock.

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.