Sandvik (OTCMKTS:SDVKY) Sees Large Volume Increase – Here’s What Happened

Shares of Sandvik AB (OTCMKTS:SDVKY) saw unusually-strong trading volume on Tuesday . 714,874 shares changed hands during mid-day trading, an increase of 441% from the previous session’s volume of 132,066 shares.The stock last traded at $40.24 and had previously closed at $39.83.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SDVKY. Nordea Equity Research upgraded Sandvik to a “hold” rating in a research report on Wednesday, April 15th. Citigroup downgraded shares of Sandvik from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Sandvik in a research report on Thursday, June 18th. The Goldman Sachs Group reissued a “sell” rating on shares of Sandvik in a report on Thursday, April 9th. Finally, Zacks Research cut shares of Sandvik from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 22nd. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

Sandvik Stock Performance

The stock has a market capitalization of $49.96 billion, a P/E ratio of 31.36, a price-to-earnings-growth ratio of 1.16 and a beta of 1.50. The stock’s fifty day moving average price is $40.42 and its two-hundred day moving average price is $39.66. The company has a current ratio of 1.96, a quick ratio of 1.06 and a debt-to-equity ratio of 0.36.

Sandvik (OTCMKTS:SDVKY) last released its earnings results on Wednesday, April 22nd. The industrial products company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.32 by $0.04. The company had revenue of $3.34 billion for the quarter, compared to analyst estimates of $3.43 billion. Sandvik had a net margin of 12.16% and a return on equity of 16.92%. Equities research analysts forecast that Sandvik AB will post 1.71 EPS for the current year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Sandvik stock. GAMMA Investing LLC boosted its position in shares of Sandvik AB (OTCMKTS:SDVKY) by 17.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,704 shares of the industrial products company’s stock after buying an additional 1,298 shares during the quarter. GAMMA Investing LLC’s holdings in Sandvik were worth $281,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds 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.