Sandvik (OTCMKTS:SDVKY) Sees Large Volume Increase – Here’s Why

Sandvik AB (OTCMKTS:SDVKY) shares saw strong trading volume on Thursday . 611,777 shares traded hands during mid-day trading, an increase of 142% from the previous session’s volume of 253,054 shares.The stock last traded at $36.7360 and had previously closed at $36.39.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on SDVKY shares. Royal Bank Of Canada restated an “outperform” rating on shares of Sandvik in a research report on Wednesday, October 22nd. Citigroup reissued a “buy” rating on shares of Sandvik in a report on Monday, January 12th. Zacks Research upgraded Sandvik from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 22nd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Sandvik in a research report on Monday, December 8th. Finally, Barclays reissued an “overweight” rating on shares of Sandvik in a research report on Wednesday, December 3rd. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Sandvik has a consensus rating of “Buy”.

Sandvik Trading Up 1.1%

The firm’s fifty day simple moving average is $32.07 and its 200 day simple moving average is $28.68. The stock has a market capitalization of $43.77 billion, a P/E ratio of 31.44, a price-to-earnings-growth ratio of 1.23 and a beta of 1.50. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.90 and a current ratio of 1.78.

Sandvik (OTCMKTS:SDVKY) last posted its quarterly earnings results on Monday, October 20th. The industrial products company reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.02). Sandvik had a return on equity of 16.30% and a net margin of 12.24%.The business had revenue of $3.10 billion for the quarter, compared to analyst estimates of $29.69 billion. As a group, equities research analysts forecast that Sandvik AB will post 1.27 EPS for the current fiscal year.

Institutional Investors Weigh In On Sandvik

A number of hedge funds have recently made changes to their positions in SDVKY. GAMMA Investing LLC increased its position in Sandvik by 17.5% during the 4th quarter. GAMMA Investing LLC now owns 8,704 shares of the industrial products company’s stock worth $281,000 after purchasing an additional 1,298 shares in the last quarter. Salomon & Ludwin LLC grew its stake 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 worth $25,000 after buying an additional 835 shares during the last quarter. Finally, Yousif Capital Management LLC increased its holdings 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 worth $502,000 after buying an additional 3,030 shares in the last quarter. 0.74% of the stock is currently owned by institutional investors and hedge funds.

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.