Sandvik (OTCMKTS:SDVKY) Sees Large Volume Increase – Here’s Why

Sandvik AB (OTCMKTS:SDVKY) saw an uptick in trading volume on Thursday . 255,892 shares were traded 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

SDVKY has been the topic of a number of research analyst reports. Barclays reiterated an “overweight” rating on shares of Sandvik in a research note on Wednesday, February 25th. The Goldman Sachs Group reaffirmed a “sell” rating on shares of Sandvik in a research report on Thursday, April 9th. Nordea Equity Research upgraded shares of Sandvik to a “hold” rating in a research report on Wednesday, April 15th. Zacks Research lowered shares of Sandvik from a “strong-buy” rating to a “hold” rating in a research report on Monday. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Sandvik in a report on Thursday, June 18th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold”.

Sandvik Stock Performance

The stock has a market capitalization of $51.14 billion, a P/E ratio of 32.10, a PEG ratio of 1.28 and a beta of 1.50. The company has a quick ratio of 1.06, a current ratio of 1.96 and a debt-to-equity ratio of 0.36. The company has a 50-day moving average price of $41.00 and a two-hundred day moving average price of $38.84.

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

Institutional Investors Weigh In On Sandvik

A hedge fund recently raised its stake in Sandvik stock. GAMMA Investing LLC raised its holdings in shares of Sandvik AB (OTCMKTS:SDVKY) by 17.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,704 shares of the industrial products company’s stock after buying 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 & Exchange Commission. 0.74% of the stock is currently owned by hedge funds and other 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.