Sandvik (OTCMKTS:SDVKY) Sees Large Volume Increase – Still a Buy?

Sandvik AB (OTCMKTS:SDVKY) shares saw strong trading volume on Friday . 61,546 shares changed hands during trading, an increase of 47% from the previous session’s volume of 41,895 shares.The stock last traded at $34.42 and had previously closed at $33.85.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Sandvik in a research note on Monday, December 8th. Rothschild Redb raised Sandvik from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 21st. Barclays reissued an “overweight” rating on shares of Sandvik in a research report on Wednesday, December 3rd. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Sandvik in a research report on Wednesday, October 22nd. Finally, Zacks Research raised shares of Sandvik from a “hold” rating to a “strong-buy” rating in a report on Monday, December 22nd. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Sandvik currently has an average rating of “Buy”.

Sandvik Stock Performance

The company has a quick ratio of 0.90, a current ratio of 1.78 and a debt-to-equity ratio of 0.40. The company’s fifty day simple moving average is $31.27 and its 200-day simple moving average is $27.99.

Sandvik (OTCMKTS:SDVKY) last released its quarterly earnings data 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 business had revenue of $3.10 billion for 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%. Analysts expect that Sandvik AB will post 1.27 EPS for the current fiscal year.

Hedge Funds Weigh In On Sandvik

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Salomon & Ludwin LLC boosted its stake in Sandvik by 3,795.5% in 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 boosted its stake in shares of Sandvik by 17.5% in the 4th quarter. GAMMA Investing LLC now owns 8,704 shares of the industrial products company’s stock valued at $281,000 after purchasing an additional 1,298 shares in the last quarter. Yousif Capital Management LLC grew its holdings in shares of Sandvik by 15.9% in the 2nd quarter. Yousif Capital Management LLC now owns 22,037 shares of the industrial products company’s stock worth $502,000 after purchasing an additional 3,030 shares during the last quarter. Finally, Rhumbline Advisers increased its position in shares of Sandvik by 13.9% during the 1st 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 in the last quarter. 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.