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

Sandvik AB (OTCMKTS:SDVKY)’s share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $42.53 and last traded at $42.50, with a volume of 10228 shares. The stock had previously closed at $41.52.

Analyst Ratings Changes

A number of equities analysts have issued reports on SDVKY shares. Barclays reissued an “overweight” rating on shares of Sandvik in a report on Thursday, January 29th. Citigroup reissued a “buy” rating on shares of Sandvik in a report on Monday, January 12th. Royal Bank Of Canada restated an “outperform” rating on shares of Sandvik in a research note on Wednesday, October 22nd. Rothschild & Co Redburn raised shares of Sandvik from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 21st. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Sandvik in a research report on Monday, December 8th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy”.

Sandvik Stock Up 3.0%

The business’s 50 day simple moving average is $34.42 and its 200 day simple moving average is $30.00. The company has a market capitalization of $53.63 billion, a PE ratio of 35.33, a price-to-earnings-growth ratio of 1.77 and a beta of 1.51. The company has a quick ratio of 0.90, a current ratio of 1.78 and a debt-to-equity ratio of 0.40.

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

Hedge Funds Weigh In On Sandvik

Several institutional investors and hedge funds have recently bought and sold shares of the business. Yousif Capital Management LLC lifted its position 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 buying an additional 3,030 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Sandvik by 24.8% in the 3rd 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 boosted its position in 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. Hedge funds and other institutional investors own 0.74% of the company’s stock.

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.