Sandvik (OTCMKTS:SDVKY) Sees Unusually-High Trading Volume – Still a Buy?

Shares of Sandvik AB (OTCMKTS:SDVKY) saw an uptick in trading volume on Thursday . 611,777 shares changed hands during trading, an increase of 142% from the previous session’s volume of 253,054 shares.The stock last traded at $36.7360 and had previously closed at $36.39.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SDVKY. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Sandvik in a report on Monday, December 8th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Sandvik in a research note on Wednesday, October 22nd. Pareto Securities cut shares of Sandvik from a “buy” rating to a “hold” rating in a research note on Sunday, October 5th. Rothschild Redb upgraded Sandvik from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 21st. Finally, Citigroup reaffirmed a “buy” rating on shares of Sandvik in a report on Monday, January 12th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy”.

Sandvik Stock Up 1.1%

The company has a market cap of $43.77 billion, a P/E ratio of 31.44, a price-to-earnings-growth ratio of 1.23 and a beta of 1.50. The firm’s 50 day moving average price is $32.07 and its two-hundred day moving average price is $28.68. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.90 and a current ratio of 1.78.

Sandvik (OTCMKTS:SDVKY) last released its quarterly earnings data on Monday, October 20th. The industrial products company reported $0.30 earnings per share (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 for the quarter, compared to the consensus estimate of $29.69 billion. Equities research analysts anticipate that Sandvik AB will post 1.27 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Yousif Capital Management LLC lifted its stake in shares of Sandvik by 15.9% in the second 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. GAMMA Investing LLC raised its holdings in shares of 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 acquiring an additional 1,473 shares during the last quarter. Finally, Salomon & Ludwin LLC boosted its stake in 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. Institutional investors and hedge funds 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.