Sandvik (OTCMKTS:SDVKY) Hits New 1-Year High – What’s Next?

Sandvik AB (OTCMKTS:SDVKY)’s share price hit a new 52-week high 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 Upgrades and Downgrades

A number of equities analysts have recently commented on SDVKY shares. Zacks Research upgraded Sandvik from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 22nd. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Sandvik in a research report on Wednesday, October 22nd. Barclays reaffirmed an “overweight” rating on shares of Sandvik in a report on Thursday, January 29th. Jefferies Financial Group cut Sandvik from a “strong-buy” rating to a “hold” rating in a research report on Sunday, January 25th. Finally, Citigroup restated a “buy” rating on shares of Sandvik in a research note on Monday, January 12th. 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. Based on data from MarketBeat, the stock currently has an average rating of “Buy”.

Sandvik Price Performance

The company has a market cap of $53.63 billion, a price-to-earnings ratio of 35.33, a P/E/G ratio of 1.77 and a beta of 1.51. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.90 and a current ratio of 1.78. The company’s 50 day moving average price is $34.42 and its 200 day moving average price is $30.00.

Sandvik (OTCMKTS:SDVKY) last released its quarterly earnings results 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). The firm had revenue of $3.64 billion during the quarter, compared to analyst estimates of $3.38 billion. Sandvik had a net margin of 12.16% and a return on equity of 17.13%. On average, equities research analysts predict that Sandvik AB will post 1.27 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sandvik

Institutional investors and hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC lifted its position in Sandvik by 17.5% during the 4th quarter. GAMMA Investing LLC now owns 8,704 shares of the industrial products company’s stock worth $281,000 after buying an additional 1,298 shares in the last quarter. Salomon & Ludwin LLC boosted its stake in Sandvik by 3,795.5% in the third quarter. Salomon & Ludwin LLC now owns 857 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 835 shares during the last quarter. Finally, Yousif Capital Management LLC grew its stake in shares of Sandvik by 15.9% during the second 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 period. 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.