Sandvik (OTCMKTS:SDVKY) Sees Large Volume Increase – Still a Buy?

Sandvik AB (OTCMKTS:SDVKY) shares saw unusually-high trading volume on Thursday . 255,892 shares were traded during trading, an increase of 100% from the previous session’s volume of 127,960 shares.The stock last traded at $40.75 and had previously closed at $39.61.

Analysts Set New Price Targets

SDVKY has been the topic of a number of recent analyst reports. Nordea Equity Research raised Sandvik to a “hold” rating in a research note on Wednesday, April 15th. Morgan Stanley cut Sandvik from an “overweight” rating to an “equal weight” rating in a research note on Thursday, March 12th. Citigroup downgraded Sandvik from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. Zacks Research lowered Sandvik from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 22nd. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Sandvik in a report on Thursday, June 18th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold”.

Sandvik Stock Down 3.0%

The stock has a market cap of $49.50 billion, a price-to-earnings ratio of 31.07, a price-to-earnings-growth ratio of 1.29 and a beta of 1.50. The firm’s fifty day moving average price is $40.87 and its two-hundred day moving average price is $38.91. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.96 and a quick ratio of 1.06.

Sandvik (OTCMKTS:SDVKY) last issued its earnings results on Wednesday, April 22nd. The industrial products company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.32 by $0.04. Sandvik had a return on equity of 16.92% and a net margin of 12.16%.The company had revenue of $3.34 billion during the quarter, compared to the consensus estimate of $3.43 billion. Sell-side analysts forecast that Sandvik AB will post 1.69 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sandvik

An institutional investor recently raised its stake in Sandvik stock. GAMMA Investing LLC increased its position in Sandvik AB (OTCMKTS:SDVKY) by 17.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,704 shares of the industrial products company’s stock after purchasing an additional 1,298 shares during the period. GAMMA Investing LLC’s holdings in Sandvik were worth $281,000 at the end of the most recent quarter. 0.74% of the stock is currently owned by hedge funds and other 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.