Sandvik (OTCMKTS:SDVKY) Sets New 12-Month High – Should You Buy?

Sandvik AB (OTCMKTS:SDVKY) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as $31.1420 and last traded at $31.08, with a volume of 14177 shares changing hands. The stock had previously closed at $30.67.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Pareto Securities lowered Sandvik from a “buy” rating to a “hold” rating in a research report on Sunday, October 5th. Citigroup restated a “buy” rating on shares of Sandvik in a research note on Tuesday, October 7th. Rothschild Redb upgraded shares of Sandvik from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 21st. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Sandvik in a research report on Monday, September 29th. Finally, Royal Bank Of Canada reiterated an “outperform” rating on shares of Sandvik in a report on Wednesday, October 22nd. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy”.

Sandvik Stock Up 1.4%

The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.90 and a current ratio of 1.78. The stock’s fifty day simple moving average is $29.44 and its two-hundred day simple moving average is $26.02. The company has a market capitalization of $39.02 billion, a price-to-earnings ratio of 26.59, a P/E/G ratio of 1.52 and a beta of 1.52.

Sandvik (OTCMKTS:SDVKY) last released its 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 during the quarter, compared to the consensus estimate of $29.69 billion. On average, sell-side analysts anticipate that Sandvik AB will post 1.27 EPS for the current year.

Institutional Investors Weigh In On Sandvik

A number of institutional investors and hedge funds have recently modified their holdings of SDVKY. Salomon & Ludwin LLC grew its holdings 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 acquiring an additional 835 shares during the last quarter. GAMMA Investing LLC increased its stake in 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 purchasing an additional 1,473 shares in the last quarter. Yousif Capital Management LLC raised its holdings in Sandvik by 15.9% during the 2nd 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 during the period. Finally, Rhumbline Advisers lifted its stake in 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 in the last quarter. Institutional investors and hedge funds own 0.74% of the company’s stock.

About Sandvik

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.