Sandvik (OTCMKTS:SDVKY) Reaches New 52-Week High – Time to Buy?

Sandvik AB (OTCMKTS:SDVKY) hit a new 52-week high during trading on Monday . The stock traded as high as $34.7575 and last traded at $34.5430, with a volume of 4071 shares. The stock had previously closed at $33.85.

Wall Street Analyst Weigh In

SDVKY has been the topic of several research analyst reports. Royal Bank Of Canada reiterated an “outperform” rating on shares of Sandvik in a research report on Wednesday, October 22nd. Pareto Securities cut Sandvik from a “buy” rating to a “hold” rating in a report on Sunday, October 5th. Rothschild Redb raised Sandvik from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 21st. Barclays restated an “overweight” rating on shares of Sandvik in a report on Wednesday, December 3rd. Finally, Zacks Research raised shares of Sandvik from a “hold” rating to a “strong-buy” rating in a report on Monday, December 22nd. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy”.

Sandvik Stock Performance

The company has a current ratio of 1.78, a quick ratio of 0.90 and a debt-to-equity ratio of 0.40. The firm has a fifty day moving average price of $31.27 and a 200 day moving average price of $28.03. The firm has a market cap of $43.38 billion, a PE ratio of 29.56, a price-to-earnings-growth ratio of 1.37 and a beta of 1.50.

Sandvik (OTCMKTS:SDVKY) last issued its earnings results on Monday, October 20th. The industrial products company reported $0.30 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 firm had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $29.69 billion. As a group, equities research analysts expect that Sandvik AB will post 1.27 earnings per share for the current fiscal year.

Institutional Trading of Sandvik

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Yousif Capital Management LLC raised its holdings in Sandvik by 15.9% in the 2nd 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 during the period. GAMMA Investing LLC grew its stake in shares of Sandvik by 17.5% in the fourth quarter. GAMMA Investing LLC now owns 8,704 shares of the industrial products company’s stock worth $281,000 after acquiring an additional 1,298 shares in the last quarter. Rhumbline Advisers increased its holdings in Sandvik by 13.9% during the 1st quarter. Rhumbline Advisers now owns 37,269 shares of the industrial products company’s stock worth $788,000 after purchasing an additional 4,562 shares during the period. Finally, Salomon & Ludwin LLC increased its stake 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 buying an additional 835 shares during the period. 0.74% of the stock is owned by institutional investors and hedge funds.

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.