Sandvik (OTCMKTS:SDVKY) Sees Strong Trading Volume – Should You Buy?

Sandvik AB (OTCMKTS:SDVKY) saw unusually-high trading volume on Thursday . Approximately 294,650 shares traded hands during trading, an increase of 114% from the previous session’s volume of 137,833 shares.The stock last traded at $37.38 and had previously closed at $38.10.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Kepler Capital Markets cut shares of Sandvik from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 15th. Zacks Research downgraded shares of Sandvik from a “strong-buy” rating to a “hold” rating in a report on Monday, June 22nd. Nordea Equity Research upgraded Sandvik to a “hold” rating in a research report on Wednesday, April 15th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Sandvik in a research note on Thursday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold”.

Sandvik Trading Down 1.8%

The company’s 50 day simple moving average is $39.12 and its 200-day simple moving average is $40.16. The firm has a market cap of $46.93 billion, a P/E ratio of 25.80, a P/E/G ratio of 1.10 and a beta of 1.51. The company has a quick ratio of 0.84, a current ratio of 1.64 and a debt-to-equity ratio of 0.31.

Hedge Funds Weigh In On Sandvik

An institutional investor recently raised its stake in Sandvik stock. GAMMA Investing LLC raised its holdings in Sandvik AB (OTCMKTS:SDVKY) by 6.2% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,489 shares of the industrial products company’s stock after acquiring an additional 616 shares during the quarter. GAMMA Investing LLC’s holdings in Sandvik were worth $432,000 as of its most recent filing with the Securities & Exchange Commission. 0.74% of the stock is owned by institutional investors and hedge funds.

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.