Sandvik (OTCMKTS:SDVKY) Hits New 1-Year High – Here’s Why

Shares of Sandvik AB (OTCMKTS:SDVKY) hit a new 52-week high during trading on Thursday . The company traded as high as $31.92 and last traded at $31.8150, with a volume of 4041 shares trading hands. The stock had previously closed at $30.49.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SDVKY. Citigroup reaffirmed a “buy” rating on shares of Sandvik in a research note on Tuesday, October 7th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Sandvik in a research report on Wednesday, October 22nd. Zacks Research downgraded Sandvik from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 4th. Barclays reissued an “overweight” rating on shares of Sandvik in a research note on Wednesday, December 3rd. Finally, Pareto Securities lowered Sandvik from a “buy” rating to a “hold” rating in a report on Sunday, October 5th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

Sandvik Stock Up 0.6%

The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.90 and a current ratio of 1.78. The company has a market capitalization of $40.11 billion, a P/E ratio of 27.33, a PEG ratio of 1.65 and a beta of 1.52. The stock has a 50 day moving average price of $30.28 and a 200 day moving average price of $26.82.

Sandvik (OTCMKTS:SDVKY) last announced its quarterly earnings data on Monday, October 20th. The industrial products company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.02). The company had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $29.69 billion. Sandvik had a net margin of 12.24% and a return on equity of 16.30%. Equities research analysts forecast that Sandvik AB will post 1.27 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sandvik

Hedge funds have recently made changes to their positions in the company. Rhumbline Advisers raised its stake in Sandvik by 13.9% in the 1st quarter. Rhumbline Advisers now owns 37,269 shares of the industrial products company’s stock worth $788,000 after acquiring an additional 4,562 shares during the last quarter. Yousif Capital Management LLC raised 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 worth $502,000 after purchasing an additional 3,030 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Sandvik by 24.8% in the third 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 last quarter. Finally, Salomon & Ludwin LLC lifted its holdings in shares of Sandvik by 3,795.5% during the third quarter. Salomon & Ludwin LLC now owns 857 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 835 shares during the period. 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.