Sandvik (OTCMKTS:SDVKY) Sets New 1-Year High – Here’s Why

by · The Cerbat Gem

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

Analyst Upgrades and Downgrades

SDVKY has been the topic of several recent analyst reports. Rothschild Redb raised shares of Sandvik from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 21st. 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 report on Tuesday, October 7th. Zacks Research downgraded Sandvik from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 4th. Finally, Barclays reaffirmed an “overweight” rating on shares of Sandvik in a research report on Wednesday. One 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’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy”.

Get Our Latest Research Report on SDVKY

Sandvik Stock Up 1.4%

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 business’s fifty day moving average price is $29.44 and its two-hundred day moving average price is $26.02. The firm has a market cap of $39.02 billion, a P/E ratio of 26.59, a P/E/G ratio of 1.52 and a beta of 1.52.

Sandvik (OTCMKTS:SDVKY – Get Free Report) last posted its earnings results on Monday, October 20th. The industrial products company reported $0.30 EPS for the quarter, missing the consensus estimate 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 anticipate that Sandvik AB will post 1.27 EPS for the current year.

Institutional Investors Weigh In On Sandvik

Several institutional investors and hedge funds have recently added to or reduced their stakes in SDVKY. Salomon & Ludwin LLC grew its holdings in 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 during the last quarter. GAMMA Investing LLC grew 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 valued at $208,000 after buying an additional 1,473 shares during the last quarter. Yousif Capital Management LLC raised its holdings in 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 acquiring an additional 3,030 shares during the period. Finally, Rhumbline Advisers lifted its position in Sandvik by 13.9% during the 1st quarter. Rhumbline Advisers now owns 37,269 shares of the industrial products company’s stock worth $788,000 after acquiring an additional 4,562 shares during the last quarter. 0.74% of the stock is currently owned by institutional investors and hedge funds.

About Sandvik

(Get Free Report)

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.

Read More