Sandvik (OTCMKTS:SDVKY) Sees Large Volume Increase – What’s Next?

Shares of Sandvik AB (OTCMKTS:SDVKY) saw unusually-strong trading volume on Friday . Approximately 61,546 shares were traded during mid-day trading, an increase of 47% from the previous session’s volume of 41,895 shares.The stock last traded at $34.42 and had previously closed at $33.85.

Analysts Set New Price Targets

Several brokerages have weighed in on SDVKY. Citigroup reissued a “buy” rating on shares of Sandvik in a research report on Tuesday, October 7th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Sandvik in a research note on Monday, December 8th. Pareto Securities downgraded Sandvik from a “buy” rating to a “hold” rating in a report on Sunday, October 5th. Barclays reiterated an “overweight” rating on shares of Sandvik in a report on Wednesday, December 3rd. Finally, Rothschild Redb upgraded Sandvik from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 21st. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy”.

Sandvik Trading Up 1.9%

The stock’s fifty day simple moving average is $31.18 and its two-hundred day simple moving average is $27.86. The firm has a market cap of $43.25 billion, a PE ratio of 29.47, a PEG ratio of 1.41 and a beta of 1.50. The company has a quick ratio of 0.90, a current ratio of 1.78 and a debt-to-equity ratio of 0.40.

Sandvik (OTCMKTS:SDVKY) last posted its quarterly earnings results on Monday, October 20th. The industrial products company reported $0.30 earnings per share 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%. On average, sell-side analysts forecast that Sandvik AB will post 1.27 EPS for the current fiscal year.

Institutional Investors Weigh In On Sandvik

A number of institutional investors have recently made changes to their positions in the company. Salomon & Ludwin LLC lifted its holdings 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 purchasing an additional 835 shares in the last quarter. GAMMA Investing LLC lifted its stake 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 acquiring an additional 1,473 shares during the period. Yousif Capital Management LLC grew its stake in shares of 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 acquiring an additional 3,030 shares during the period. Finally, Rhumbline Advisers raised its holdings 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 purchasing an additional 4,562 shares during the last quarter. Hedge funds and other institutional investors own 0.74% of the company’s stock.

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.