Sandvik (OTCMKTS:SDVKY) Sees Strong Trading Volume – Still a Buy?

Shares of Sandvik AB (OTCMKTS:SDVKY) saw an uptick in trading volume on Thursday . Approximately 255,892 shares changed hands during trading, an increase of 100% from the previous session’s volume of 127,960 shares.The stock last traded at $40.75 and had previously closed at $39.61.

Analyst Ratings Changes

Several research analysts recently weighed in on SDVKY shares. Nordea Equity Research upgraded shares of Sandvik to a “hold” rating in a research report on Wednesday, April 15th. Morgan Stanley lowered shares of Sandvik from an “overweight” rating to an “equal weight” rating in a report on Thursday, March 12th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Sandvik in a research report on Thursday, June 18th. Zacks Research downgraded shares of Sandvik from a “strong-buy” rating to a “hold” rating in a report on Monday. Finally, The Goldman Sachs Group reissued a “sell” rating on shares of Sandvik in a research note on Thursday, April 9th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Sandvik presently has a consensus rating of “Hold”.

Sandvik Stock Up 2.9%

The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.06 and a current ratio of 1.96. The stock’s 50 day moving average price is $41.00 and its 200-day moving average price is $38.84. The company has a market cap of $51.14 billion, a PE ratio of 32.10, a PEG ratio of 1.28 and a beta of 1.50.

Sandvik (OTCMKTS:SDVKY) last issued its earnings results on Wednesday, April 22nd. The industrial products company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.04. Sandvik had a net margin of 12.16% and a return on equity of 16.92%. The company had revenue of $3.34 billion for the quarter, compared to analysts’ expectations of $3.43 billion. On average, analysts predict that Sandvik AB will post 1.69 earnings per share for the current year.

Institutional Investors Weigh In On Sandvik

An institutional investor recently raised its position in Sandvik stock. GAMMA Investing LLC boosted its stake in shares of Sandvik AB (OTCMKTS:SDVKY) by 17.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,704 shares of the industrial products company’s stock after acquiring an additional 1,298 shares during the quarter. GAMMA Investing LLC’s holdings in Sandvik were worth $281,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 0.74% of the stock is currently owned by institutional investors.

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.