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

Sandvik AB (OTCMKTS:SDVKY)’s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $41.33 and last traded at $41.1425, with a volume of 54084 shares trading hands. The stock had previously closed at $39.66.

Wall Street Analyst Weigh In

SDVKY has been the subject of several analyst reports. Zacks Research raised Sandvik from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 22nd. Royal Bank Of Canada reaffirmed 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 note on Monday, January 12th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Sandvik in a research note on Monday, December 8th. Finally, Rothschild Redb raised shares of Sandvik from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 21st. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Sandvik has a consensus rating of “Buy”.

Sandvik Stock Performance

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 $51.45 billion, a price-to-earnings ratio of 33.90, a P/E/G ratio of 1.69 and a beta of 1.51. The stock’s 50-day moving average price is $33.54 and its 200-day moving average price is $29.55.

Sandvik (OTCMKTS:SDVKY) last released its earnings results on Tuesday, January 27th. The industrial products company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.01). Sandvik had a net margin of 12.16% and a return on equity of 17.13%. The business had revenue of $3.64 billion during the quarter, compared to analyst estimates of $3.38 billion. As a group, equities research analysts expect that Sandvik AB will post 1.27 earnings per share for the current year.

Institutional Investors Weigh In On Sandvik

Several institutional investors have recently made changes to their positions in SDVKY. Salomon & Ludwin LLC grew its holdings in Sandvik by 3,795.5% during the 3rd quarter. Salomon & Ludwin LLC now owns 857 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 835 shares during the period. GAMMA Investing LLC increased its position 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 in the last quarter. Finally, Yousif Capital Management LLC lifted its holdings 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 valued at $502,000 after purchasing an additional 3,030 shares in the last quarter. 0.74% of the stock is currently 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.