Sandvik (OTCMKTS:SDVKY) Hits New 1-Year High – Time to Buy?

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

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Royal Bank Of Canada restated an “outperform” rating on shares of Sandvik in a report on Wednesday, October 22nd. Rothschild Redb raised Sandvik from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 21st. Citigroup reaffirmed a “buy” rating on shares of Sandvik in a research report on Monday, January 12th. Jefferies Financial Group cut Sandvik from a “strong-buy” rating to a “hold” rating in a research note on Sunday, January 25th. Finally, Barclays reissued an “overweight” rating on shares of Sandvik in a research report on Thursday, January 29th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy”.

Sandvik Stock Down 0.9%

The firm’s 50 day moving average is $34.20 and its two-hundred day moving average is $29.82. The company has a current ratio of 1.78, a quick ratio of 0.90 and a debt-to-equity ratio of 0.40. The stock has a market cap of $51.08 billion, a price-to-earnings ratio of 33.65, a P/E/G ratio of 1.76 and a beta of 1.51.

Sandvik (OTCMKTS:SDVKY) last released its earnings results on Tuesday, January 27th. The industrial products company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.01). The business had revenue of $3.64 billion for the quarter, compared to analysts’ expectations of $3.38 billion. Sandvik had a return on equity of 17.13% and a net margin of 12.16%. On average, sell-side analysts predict that Sandvik AB will post 1.27 EPS for the current year.

Institutional Investors Weigh In On Sandvik

Institutional investors and hedge funds have recently made changes to their positions in the company. Salomon & Ludwin LLC lifted its stake in shares of 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 purchasing an additional 835 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Sandvik by 24.8% during 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 period. Finally, Yousif Capital Management LLC raised its holdings in Sandvik by 15.9% in the 2nd quarter. Yousif Capital Management LLC now owns 22,037 shares of the industrial products company’s stock valued at $502,000 after acquiring an additional 3,030 shares in the last quarter. 0.74% of the stock is 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.