Sandvik (OTCMKTS:SDVKY) Sees Unusually-High Trading Volume on Analyst Upgrade

Shares of Sandvik AB (OTCMKTS:SDVKY) saw unusually-high trading volume on Monday after Zacks Research upgraded the stock from a hold rating to a strong-buy rating. Approximately 92,712 shares changed hands during mid-day trading, an increase of 98% from the previous session’s volume of 46,752 shares.The stock last traded at $32.26 and had previously closed at $31.79.

SDVKY has been the topic of several other reports. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Sandvik in a research note on Monday, December 8th. Citigroup restated a “buy” rating on shares of Sandvik in a research note on Tuesday, October 7th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Sandvik in a research report on Wednesday, October 22nd. Barclays restated an “overweight” rating on shares of Sandvik in a research note on Wednesday, December 3rd. Finally, Pareto Securities cut shares of Sandvik from a “buy” rating to a “hold” rating in a research note on Sunday, October 5th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy”.

Hedge Funds Weigh In On Sandvik

Hedge funds have recently bought and sold shares of the company. Rhumbline Advisers increased its stake in Sandvik by 13.9% in the first quarter. Rhumbline Advisers now owns 37,269 shares of the industrial products company’s stock valued at $788,000 after acquiring an additional 4,562 shares during the last quarter. Yousif Capital Management LLC raised its holdings 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 worth $502,000 after buying an additional 3,030 shares in the last quarter. GAMMA Investing LLC lifted its position 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 buying an additional 1,473 shares during the last quarter. Finally, Salomon & Ludwin LLC boosted its stake in Sandvik by 3,795.5% in the third 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 in the last quarter. 0.74% of the stock is owned by institutional investors.

Sandvik Stock Performance

The stock has a market cap of $40.86 billion, a P/E ratio of 27.84, a PEG ratio of 1.56 and a beta of 1.52. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.78 and a quick ratio of 0.90. The stock has a 50-day simple moving average of $30.44 and a 200-day simple moving average of $27.03.

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

Sandvik Company Profile

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.