Sandvik (OTCMKTS:SDVKY) Sets New 12-Month High – Still a Buy?

Sandvik AB (OTCMKTS:SDVKY) shares hit a new 52-week high during trading on Tuesday . The stock traded as high as $33.41 and last traded at $33.41, with a volume of 30036 shares changing hands. The stock had previously closed at $32.88.

Wall Street Analyst Weigh In

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

Sandvik Stock Up 1.6%

The stock has a market capitalization of $41.91 billion, a price-to-earnings ratio of 28.56, a price-to-earnings-growth ratio of 1.35 and a beta of 1.50. 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 business’s 50-day moving average is $30.98 and its two-hundred day moving average is $27.69.

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

Institutional Trading of Sandvik

Several large investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers increased its stake 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 acquiring an additional 4,562 shares during the last quarter. Yousif Capital Management LLC grew 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. GAMMA Investing LLC increased its position in Sandvik by 24.8% during the third 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 last quarter. Finally, Salomon & Ludwin LLC raised its stake in Sandvik by 3,795.5% during the third quarter. Salomon & Ludwin LLC now owns 857 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 835 shares during the period. 0.74% of the stock is currently owned by hedge funds and other institutional investors.

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.