Sandvik (OTCMKTS:SDVKY) Reaches New 12-Month High – Here’s Why

Shares of Sandvik AB (OTCMKTS:SDVKY) hit a new 52-week high on Wednesday . The stock traded as high as $32.5525 and last traded at $32.36, with a volume of 256190 shares trading hands. The stock had previously closed at $32.26.

Analyst Ratings Changes

Several brokerages have recently issued reports on SDVKY. Rothschild Redb upgraded shares of Sandvik from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 21st. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Sandvik in a research report on Monday, December 8th. Pareto Securities downgraded shares of Sandvik from a “buy” rating to a “hold” rating in a research note on Sunday, October 5th. Barclays reiterated an “overweight” rating on shares of Sandvik in a report on Wednesday, December 3rd. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of Sandvik in a report on Wednesday, October 22nd. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy”.

Sandvik Price Performance

The company has a current ratio of 1.78, a quick ratio of 0.90 and a debt-to-equity ratio of 0.40. The business’s 50 day moving average price is $30.44 and its two-hundred day moving average price is $27.03. The stock has a market cap of $40.59 billion, a P/E ratio of 27.66, a price-to-earnings-growth ratio of 1.56 and a beta of 1.52.

Sandvik (OTCMKTS:SDVKY) last issued its quarterly earnings data 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 company had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $29.69 billion. Sandvik had a return on equity of 16.30% and a net margin of 12.24%. As a group, sell-side analysts expect that Sandvik AB will post 1.27 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sandvik

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Yousif Capital Management LLC raised 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 worth $502,000 after purchasing an additional 3,030 shares in the last quarter. Salomon & Ludwin LLC grew its position in shares of 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 buying an additional 835 shares during the period. Rhumbline Advisers grew its position in shares of Sandvik by 13.9% in the 1st quarter. Rhumbline Advisers now owns 37,269 shares of the industrial products company’s stock worth $788,000 after buying an additional 4,562 shares during the period. Finally, GAMMA Investing LLC increased its stake in shares of Sandvik by 24.8% in the 3rd quarter. GAMMA Investing LLC now owns 7,406 shares of the industrial products company’s stock worth $208,000 after acquiring an additional 1,473 shares in the last quarter. 0.74% of the stock is owned by hedge funds and other institutional investors.

Sandvik Company Profile

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.