Sandvik (OTCMKTS:SDVKY) Sees Large Volume Increase – Time to Buy?

Sandvik AB (OTCMKTS:SDVKY) shares saw an uptick in trading volume on Thursday . 611,777 shares changed hands during trading, an increase of 142% from the previous session’s volume of 253,054 shares.The stock last traded at $36.7360 and had previously closed at $36.39.

Wall Street Analyst Weigh In

A number of research firms recently commented on SDVKY. Pareto Securities lowered shares of Sandvik from a “buy” rating to a “hold” rating in a research report on Sunday, October 5th. Barclays restated an “overweight” rating on shares of Sandvik in a research report on Wednesday, December 3rd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Sandvik in a research report on Monday, December 8th. Rothschild Redb raised Sandvik from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 21st. Finally, Royal Bank Of Canada reiterated an “outperform” rating on shares of Sandvik in a research report on Wednesday, October 22nd. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy”.

Sandvik Stock Performance

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 company has a market cap of $46.14 billion, a P/E ratio of 31.82, a price-to-earnings-growth ratio of 1.29 and a beta of 1.50. The company has a 50 day moving average price of $32.33 and a 200-day moving average price of $28.83.

Institutional Investors Weigh In On Sandvik

Hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC increased 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 purchasing an additional 1,298 shares in the last quarter. Salomon & Ludwin LLC grew its stake in shares of 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 buying 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 buying an additional 3,030 shares during the last quarter. 0.74% of the stock is currently owned by institutional investors and hedge funds.

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.