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

Sandvik AB (OTCMKTS:SDVKY)’s share price reached a new 52-week high on Tuesday . The company traded as high as $38.1325 and last traded at $37.91, with a volume of 65003 shares changing hands. The stock had previously closed at $37.23.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on SDVKY shares. Pareto Securities lowered shares of 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 report on Monday, January 12th. Barclays restated an “overweight” rating on shares of Sandvik in a report on Wednesday, December 3rd. Rothschild Redb raised Sandvik from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 21st. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Sandvik in a research note on Monday, December 8th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy”.

Sandvik Stock Up 1.8%

The stock has a fifty day moving average of $32.49 and a 200 day moving average of $29.00. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.78 and a quick ratio of 0.90. The firm has a market capitalization of $47.55 billion, a P/E ratio of 32.40, a price-to-earnings-growth ratio of 1.31 and a beta of 1.50.

Institutional Investors Weigh In On Sandvik

Hedge funds and other institutional investors have recently bought and sold shares of the business. Yousif Capital Management LLC raised its stake in shares of Sandvik by 15.9% during the 2nd quarter. Yousif Capital Management LLC now owns 22,037 shares of the industrial products company’s stock valued at $502,000 after purchasing an additional 3,030 shares during the period. GAMMA Investing LLC grew its holdings in Sandvik by 24.8% during the 3rd 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 in the last quarter. Finally, Salomon & Ludwin LLC increased its position in shares of Sandvik by 3,795.5% during the third quarter. Salomon & Ludwin LLC now owns 857 shares of the industrial products company’s stock valued at $25,000 after buying an additional 835 shares during the period. Institutional investors own 0.74% of the company’s stock.

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.