Sandvik (OTCMKTS:SDVKY) Hits New 52-Week High – Here’s Why

Sandvik AB (OTCMKTS:SDVKY)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $29.98 and last traded at $29.77, with a volume of 34425 shares. The stock had previously closed at $29.80.

Wall Street Analyst Weigh In

SDVKY has been the topic of a number of recent analyst reports. Barclays reiterated an “overweight” rating on shares of Sandvik in a research note on Monday, September 8th. Pareto Securities lowered shares of Sandvik from a “buy” rating to a “hold” rating in a research note on Sunday, October 5th. Citigroup reiterated a “buy” rating on shares of Sandvik in a research note on Tuesday, October 7th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Sandvik in a research note on Monday, September 29th. Finally, Zacks Research upgraded shares of Sandvik from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 6th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

Sandvik Stock Down 0.1%

The company has a debt-to-equity ratio of 0.42, a current ratio of 1.62 and a quick ratio of 0.86. The firm’s 50-day simple moving average is $26.96 and its two-hundred day simple moving average is $23.89. The company has a market capitalization of $37.34 billion, a price-to-earnings ratio of 25.45, a price-to-earnings-growth ratio of 1.50 and a beta of 1.60.

Sandvik (OTCMKTS:SDVKY) last released its quarterly earnings results on Monday, October 20th. The industrial products company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.02). The business had revenue of $3.10 billion during the quarter, compared to analyst estimates of $29.69 billion. Sandvik had a net margin of 12.24% and a return on equity of 16.56%. Sell-side analysts predict that Sandvik AB will post 1.27 EPS for the current fiscal year.

Institutional Trading of Sandvik

Several large investors have recently modified their holdings of the business. Salomon & Ludwin LLC grew its position in shares of Sandvik by 3,795.5% in the third 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 last quarter. GAMMA Investing LLC lifted its stake in shares of Sandvik by 24.8% during the third quarter. GAMMA Investing LLC now owns 7,406 shares of the industrial products company’s stock valued at $208,000 after buying an additional 1,473 shares during the period. Yousif Capital Management LLC lifted its stake in shares of Sandvik by 15.9% during the second quarter. Yousif Capital Management LLC now owns 22,037 shares of the industrial products company’s stock valued at $502,000 after buying an additional 3,030 shares during the period. Finally, Rhumbline Advisers lifted its stake in shares of Sandvik by 13.9% during the first 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 currently owned by institutional investors and hedge funds.

Sandvik Company Profile

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.