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

Sandvik AB (OTCMKTS:SDVKY) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as $28.22 and last traded at $28.01, with a volume of 17811 shares trading hands. The stock had previously closed at $27.64.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Sandvik in a report on Wednesday, June 25th. Barclays restated an “overweight” rating on shares of Sandvik in a report on Monday, September 8th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Sandvik has an average rating of “Moderate Buy”.

Sandvik Stock Performance

The stock has a 50 day simple moving average of $25.65 and a 200 day simple moving average of $23.09. The company has a quick ratio of 0.86, a current ratio of 1.62 and a debt-to-equity ratio of 0.42. The company has a market cap of $34.28 billion, a price-to-earnings ratio of 24.40, a PEG ratio of 1.41 and a beta of 1.56.

Sandvik (OTCMKTS:SDVKY) last announced its earnings results on Wednesday, July 16th. The industrial products company reported $0.31 EPS for the quarter, meeting the consensus estimate of $0.31. The business had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $29.43 billion. Sandvik had a return on equity of 16.54% and a net margin of 11.89%. As a group, analysts predict that Sandvik AB will post 1.27 EPS for the current year.

Hedge Funds Weigh In On Sandvik

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SDVKY. GAMMA Investing LLC increased its position in shares of Sandvik by 3,893.3% during the first quarter. GAMMA Investing LLC now owns 117,242 shares of the industrial products company’s stock worth $2,478,000 after acquiring an additional 114,306 shares during the last quarter. Rhumbline Advisers grew its stake in Sandvik by 13.9% during the 1st quarter. Rhumbline Advisers now owns 37,269 shares of the industrial products company’s stock valued at $788,000 after purchasing an additional 4,562 shares in the last quarter. Finally, Yousif Capital Management LLC increased its holdings in 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 purchasing an additional 3,030 shares during the last quarter. 0.74% of the stock is owned by hedge funds and other institutional investors.

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.