Sandvik (OTCMKTS:SDVKY) Hits New 12-Month High – Time to Buy?

Sandvik AB (OTCMKTS:SDVKY)’s share price hit a new 52-week high during trading on Wednesday . The stock traded as high as $32.5525 and last traded at $32.36, with a volume of 256190 shares trading hands. The stock had previously closed at $32.26.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Zacks Research upgraded shares of Sandvik from a “hold” rating to a “strong-buy” rating in a report on Monday. Royal Bank Of Canada reissued an “outperform” rating on shares of Sandvik in a report on Wednesday, October 22nd. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Sandvik in a report on Monday, December 8th. Barclays reissued an “overweight” rating on shares of Sandvik in a research report on Wednesday, December 3rd. Finally, Citigroup reiterated a “buy” rating on shares of Sandvik in a research note on Tuesday, October 7th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy”.

Sandvik Trading Up 0.6%

The company has a 50 day moving average of $30.60 and a two-hundred day moving average of $27.10. The stock has a market capitalization of $40.86 billion, a PE ratio of 27.84, a P/E/G ratio of 1.57 and a beta of 1.52. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.90 and a current ratio of 1.78.

Sandvik (OTCMKTS:SDVKY) last issued its quarterly earnings results on Monday, October 20th. The industrial products company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.02). Sandvik had a return on equity of 16.30% and a net margin of 12.24%.The business had revenue of $3.10 billion during the quarter, compared to analyst estimates of $29.69 billion. Sell-side analysts predict that Sandvik AB will post 1.27 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in SDVKY. Salomon & Ludwin LLC grew its holdings 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 valued at $25,000 after buying an additional 835 shares during the last quarter. GAMMA Investing LLC grew its stake in Sandvik by 24.8% during the 3rd quarter. GAMMA Investing LLC now owns 7,406 shares of the industrial products company’s stock valued at $208,000 after purchasing an additional 1,473 shares during the last quarter. Yousif Capital Management LLC increased 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 during the period. Finally, Rhumbline Advisers raised its stake in shares of Sandvik by 13.9% in the first 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 last quarter. Hedge funds and other institutional investors own 0.74% of the company’s stock.

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.