Sandvik (OTCMKTS:SDVKY) Sets New 1-Year High – Time to Buy?

Sandvik AB (OTCMKTS:SDVKY) shares reached a new 52-week high on Tuesday . The stock traded as high as $38.1325 and last traded at $37.91, with a volume of 65003 shares traded. The stock had previously closed at $37.23.

Analyst Ratings Changes

SDVKY has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Sandvik in a report on Monday, December 8th. Pareto Securities lowered shares of Sandvik from a “buy” rating to a “hold” rating in a report on Sunday, October 5th. Royal Bank Of Canada reissued an “outperform” rating on shares of Sandvik in a report on Wednesday, October 22nd. Citigroup reaffirmed a “buy” rating on shares of Sandvik in a report on Monday, January 12th. Finally, Zacks Research upgraded Sandvik from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 22nd. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy”.

Sandvik Price Performance

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 firm has a market capitalization of $49.34 billion, a P/E ratio of 33.62, a PEG ratio of 1.36 and a beta of 1.50. The company’s 50 day moving average price is $32.89 and its 200 day moving average price is $29.17.

Institutional Investors Weigh In On Sandvik

Institutional investors and hedge funds have recently made changes to their positions in the company. Yousif Capital Management LLC boosted its holdings in Sandvik by 15.9% in the second 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. GAMMA Investing LLC raised its holdings in 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 purchasing an additional 1,473 shares during the last quarter. Finally, Salomon & Ludwin LLC lifted 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 valued at $25,000 after purchasing an additional 835 shares during the period. 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.