Sandvik (OTCMKTS:SDVKY) Reaches New 1-Year High – What’s Next?

Sandvik AB (OTCMKTS:SDVKY) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $36.01 and last traded at $35.8980, with a volume of 7509 shares trading hands. The stock had previously closed at $34.89.

Analyst Upgrades and Downgrades

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

Sandvik Price Performance

The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.90 and a current ratio of 1.78. The company has a fifty day moving average price of $31.96 and a two-hundred day moving average price of $28.62. The company has a market cap of $44.56 billion, a P/E ratio of 30.70, a PEG ratio of 1.25 and a beta of 1.50.

Sandvik (OTCMKTS:SDVKY) last announced its earnings results on Monday, October 20th. The industrial products company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.02). The firm had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $29.69 billion. Sandvik had a return on equity of 16.30% and a net margin of 12.24%. On average, sell-side analysts anticipate that Sandvik AB will post 1.27 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sandvik

Several institutional investors have recently modified their holdings of the business. Salomon & Ludwin LLC boosted its stake in Sandvik by 3,795.5% in 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 during the period. GAMMA Investing LLC raised its holdings in Sandvik by 24.8% in the third 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, Yousif Capital Management LLC grew its stake in shares of Sandvik by 15.9% in the second 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 period. 0.74% of the stock is owned by institutional investors.

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.