Sandvik (OTCMKTS:SDVKY) Sets New 12-Month High – Here’s What Happened

Shares of Sandvik AB (OTCMKTS:SDVKY) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $34.7575 and last traded at $34.5430, with a volume of 4071 shares changing hands. The stock had previously closed at $33.85.

Wall Street Analyst Weigh In

Several analysts have issued reports on SDVKY shares. Rothschild Redb upgraded Sandvik from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 21st. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Sandvik in a research note on Monday, December 8th. Citigroup reaffirmed a “buy” rating on shares of Sandvik in a research report on Monday. Barclays reissued an “overweight” rating on shares of Sandvik in a research report 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 equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Sandvik currently has an average rating of “Buy”.

Sandvik Stock Up 0.9%

The company has a current ratio of 1.78, a quick ratio of 0.90 and a debt-to-equity ratio of 0.40. The firm has a market cap of $43.46 billion, a price-to-earnings ratio of 29.87, a PEG ratio of 1.22 and a beta of 1.50. The firm’s 50 day simple moving average is $31.47 and its two-hundred day simple moving average is $28.20.

Sandvik (OTCMKTS:SDVKY) last announced its earnings results 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). Sandvik had a return on equity of 16.30% and a net margin of 12.24%.The business had revenue of $3.10 billion for the quarter, compared to analyst estimates of $29.69 billion. On average, equities analysts forecast that Sandvik AB will post 1.27 EPS for the current year.

Hedge Funds Weigh In On Sandvik

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SDVKY. Salomon & Ludwin LLC grew its holdings 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 worth $25,000 after purchasing an additional 835 shares in the last quarter. GAMMA Investing LLC lifted its position in Sandvik by 24.8% during the third quarter. GAMMA Investing LLC now owns 7,406 shares of the industrial products company’s stock worth $208,000 after purchasing an additional 1,473 shares during the period. Yousif Capital Management LLC grew its stake 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 in the last quarter. Finally, Rhumbline Advisers increased its holdings in 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 buying an additional 4,562 shares during the period. 0.74% of the stock is owned by institutional investors and hedge funds.

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.