Sandvik (OTCMKTS:SDVKY) Reaches New 1-Year High – Here’s What Happened

Sandvik AB (OTCMKTS:SDVKY) shares hit a new 52-week high on Monday . The company traded as high as $42.53 and last traded at $42.50, with a volume of 10228 shares traded. The stock had previously closed at $41.52.

Analyst Upgrades and Downgrades

SDVKY has been the topic of several recent research reports. Jefferies Financial Group cut shares of Sandvik from a “strong-buy” rating to a “hold” rating in a report on Sunday, January 25th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Sandvik in a research note on Monday, December 8th. Rothschild & Co Redburn upgraded Sandvik from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 21st. Royal Bank Of Canada reissued an “outperform” rating on shares of Sandvik in a research note on Wednesday, October 22nd. Finally, Zacks Research raised Sandvik from a “hold” rating to a “strong-buy” rating in a report on Monday, December 22nd. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy”.

Sandvik Stock 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 company has a market cap of $55.07 billion, a PE ratio of 36.28, a P/E/G ratio of 1.83 and a beta of 1.51. The business has a fifty day moving average of $34.92 and a 200-day moving average of $30.24.

Sandvik (OTCMKTS:SDVKY) last released its earnings results on Tuesday, January 27th. The industrial products company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). The firm had revenue of $3.64 billion during the quarter, compared to analysts’ expectations of $3.38 billion. Sandvik had a net margin of 12.16% and a return on equity of 17.13%. Equities research analysts anticipate that Sandvik AB will post 1.27 earnings per share for the current fiscal year.

Institutional Trading of Sandvik

A number of institutional investors and hedge funds have recently modified their holdings of the business. Salomon & Ludwin LLC raised its position in 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 last quarter. GAMMA Investing LLC grew its stake in shares of 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 purchasing an additional 1,473 shares during the period. Finally, Yousif Capital Management LLC lifted its stake in shares of Sandvik by 15.9% in the 2nd 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 during the period. 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.