Sandvik (OTCMKTS:SDVKY) Sees Unusually-High Trading Volume – Should You Buy?

Shares of Sandvik AB (OTCMKTS:SDVKY) saw strong trading volume on Thursday . 312,299 shares changed hands during mid-day trading, an increase of 37% from the previous session’s volume of 227,544 shares.The stock last traded at $35.70 and had previously closed at $34.95.

Analysts Set New Price Targets

Several brokerages have weighed in on SDVKY. Royal Bank Of Canada reissued an “outperform” rating on shares of Sandvik in a research note on Wednesday, October 22nd. Citigroup reissued a “buy” rating on shares of Sandvik in a research report on Monday. Pareto Securities downgraded Sandvik from a “buy” rating to a “hold” rating in a research report on Sunday, October 5th. Zacks Research upgraded shares of Sandvik from a “hold” rating to a “strong-buy” rating in a report on Monday, December 22nd. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Sandvik in a report on Monday, December 8th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy”.

Sandvik Price 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 market cap of $44.79 billion, a P/E ratio of 30.52, a PEG ratio of 1.23 and a beta of 1.50. The firm has a 50-day simple moving average of $31.58 and a 200-day simple moving average of $28.25.

Sandvik (OTCMKTS:SDVKY) last announced 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). The firm had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $29.69 billion. Sandvik had a return on equity of 16.30% and a net margin of 12.24%. As a group, analysts forecast that Sandvik AB will post 1.27 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Salomon & Ludwin LLC increased its position in 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 buying an additional 835 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Sandvik by 24.8% during the third quarter. GAMMA Investing LLC now owns 7,406 shares of the industrial products company’s stock worth $208,000 after acquiring an additional 1,473 shares during the last quarter. Yousif Capital Management LLC grew its stake in shares of Sandvik by 15.9% during the second quarter. Yousif Capital Management LLC now owns 22,037 shares of the industrial products company’s stock worth $502,000 after acquiring an additional 3,030 shares during the last quarter. Finally, Rhumbline Advisers increased its holdings in shares of Sandvik by 13.9% during the first quarter. Rhumbline Advisers now owns 37,269 shares of the industrial products company’s stock valued at $788,000 after acquiring an additional 4,562 shares in the last quarter. 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.