Sandvik (OTCMKTS:SDVKY) Reaches New 52-Week High – What’s Next?

Sandvik AB (OTCMKTS:SDVKY) shares hit a new 52-week high on Wednesday . The company traded as high as $32.5525 and last traded at $32.36, with a volume of 256190 shares. The stock had previously closed at $32.26.

Analyst Ratings Changes

A number of analysts have recently commented on SDVKY shares. Royal Bank Of Canada reissued an “outperform” rating on shares of Sandvik in a research report on Wednesday, October 22nd. Rothschild Redb raised Sandvik from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 21st. Pareto Securities cut Sandvik from a “buy” rating to a “hold” rating in a research note on Sunday, October 5th. Zacks Research raised Sandvik from a “hold” rating to a “strong-buy” rating in a research report on Monday. Finally, Citigroup reissued a “buy” rating on shares of Sandvik in a research report on Tuesday, October 7th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy”.

Sandvik Trading Up 0.3%

The stock has a 50 day simple moving average of $30.44 and a 200-day simple moving average of $27.03. 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 firm has a market capitalization of $40.59 billion, a P/E ratio of 27.66, a P/E/G ratio of 1.56 and a beta of 1.52.

Sandvik (OTCMKTS:SDVKY) last issued its quarterly 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 company had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $29.69 billion. On average, equities research analysts forecast that Sandvik AB will post 1.27 EPS for the current fiscal year.

Hedge Funds Weigh In On Sandvik

Hedge funds and other institutional investors have recently modified their holdings of the stock. Salomon & Ludwin LLC boosted its holdings in shares of Sandvik by 3,795.5% during the 3rd 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 raised its position 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 during the period. Yousif Capital Management LLC lifted 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 valued at $502,000 after buying an additional 3,030 shares in the last quarter. Finally, Rhumbline Advisers lifted its holdings in Sandvik by 13.9% during the 1st 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 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.