Sandvik (OTCMKTS:SDVKY) Sets New 1-Year High – What’s Next?

Sandvik AB (OTCMKTS:SDVKY)’s stock price hit a new 52-week high during trading on Tuesday . The stock traded as high as $38.1325 and last traded at $37.91, with a volume of 65003 shares trading hands. The stock had previously closed at $37.23.

Analyst Ratings Changes

Several research firms have issued reports on SDVKY. Zacks Research upgraded shares of Sandvik from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 22nd. Royal Bank Of Canada reissued an “outperform” rating on shares of Sandvik in a research note on Wednesday, October 22nd. Rothschild Redb upgraded Sandvik from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 21st. Jefferies Financial Group downgraded Sandvik from a “strong-buy” rating to a “hold” rating in a research report on Sunday. Finally, Pareto Securities lowered Sandvik from a “buy” rating to a “hold” rating in a report on Sunday, October 5th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy”.

Sandvik Trading Up 1.8%

The company has a debt-to-equity ratio of 0.40, a current ratio of 1.78 and a quick ratio of 0.90. The stock has a 50 day moving average of $32.49 and a 200 day moving average of $29.00. The firm has a market cap of $47.55 billion, a P/E ratio of 32.40, a PEG ratio of 1.31 and a beta of 1.50.

Institutional Trading of Sandvik

Several hedge funds and other institutional investors have recently bought and sold shares of SDVKY. Yousif Capital Management LLC grew its position in Sandvik by 15.9% during the second quarter. Yousif Capital Management LLC now owns 22,037 shares of the industrial products company’s stock valued at $502,000 after acquiring an additional 3,030 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Sandvik by 17.5% in the 4th quarter. GAMMA Investing LLC now owns 8,704 shares of the industrial products company’s stock valued at $281,000 after purchasing an additional 1,298 shares in the last quarter. Finally, Salomon & Ludwin LLC grew 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. Hedge funds and other 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.