Sandvik (OTCMKTS:SDVKY) Trading Up 2.8% – Time to Buy?

Shares of Sandvik AB (OTCMKTS:SDVKY) rose 2.8% during trading on Friday . The stock traded as high as $33.25 and last traded at $33.25. Approximately 239 shares were traded during trading, a decline of 100% from the average daily volume of 49,243 shares. The stock had previously closed at $32.36.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Citigroup reissued a “buy” rating on shares of Sandvik in a research note on Tuesday, October 7th. Barclays reissued an “overweight” rating on shares of Sandvik in a research report on Wednesday, December 3rd. Pareto Securities lowered Sandvik from a “buy” rating to a “hold” rating in a research report on Sunday, October 5th. Rothschild Redb upgraded Sandvik from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 21st. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of Sandvik in a report on Wednesday, October 22nd. Two research 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 company. According to MarketBeat, the stock currently has a consensus rating of “Buy”.

Sandvik Price Performance

The stock has a market capitalization of $40.93 billion, a P/E ratio of 27.89, a price-to-earnings-growth ratio of 1.57 and a beta of 1.52. The business has a fifty day simple moving average of $30.60 and a 200 day simple moving average of $27.10. The company has a current ratio of 1.78, a quick ratio of 0.90 and a debt-to-equity ratio of 0.40.

Sandvik (OTCMKTS:SDVKY) last announced its earnings results on Monday, October 20th. The industrial products company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.02). Sandvik had a net margin of 12.24% and a return on equity of 16.30%. The company had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $29.69 billion. On average, analysts expect that Sandvik AB will post 1.27 earnings per share for the current year.

Hedge Funds Weigh In On Sandvik

Several hedge funds have recently modified their holdings of SDVKY. Salomon & Ludwin LLC grew its holdings in shares of 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 in the last quarter. GAMMA Investing LLC grew its stake in Sandvik by 24.8% in 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 period. Yousif Capital Management LLC increased its position in shares of Sandvik by 15.9% during the 2nd 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 last quarter. Finally, Rhumbline Advisers boosted its holdings in shares of Sandvik by 13.9% in the 1st quarter. Rhumbline Advisers now owns 37,269 shares of the industrial products company’s stock worth $788,000 after buying an additional 4,562 shares during the last quarter. 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.