Sandvik (OTCMKTS:SDVKY) Sees Large Volume Increase – What’s Next?

Sandvik AB (OTCMKTS:SDVKY) shares saw unusually-high trading volume on Tuesday . 714,874 shares were traded during trading, an increase of 441% from the previous session’s volume of 132,066 shares.The stock last traded at $40.24 and had previously closed at $39.83.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. The Goldman Sachs Group reaffirmed a “sell” rating on shares of Sandvik in a research report on Thursday, April 9th. Nordea Equity Research upgraded Sandvik to a “hold” rating in a research note on Wednesday, April 15th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Sandvik in a research report on Thursday, June 18th. Citigroup downgraded Sandvik from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. Finally, Zacks Research cut shares of Sandvik from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 22nd. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold”.

Sandvik Stock Performance

The stock has a market capitalization of $50.18 billion, a P/E ratio of 31.50, a PEG ratio of 1.14 and a beta of 1.50. The company’s fifty day simple moving average is $40.31 and its two-hundred day simple moving average is $39.77. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.06 and a current ratio of 1.96.

Sandvik (OTCMKTS:SDVKY) last posted its earnings results on Wednesday, April 22nd. The industrial products company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.32 by $0.04. The company had revenue of $3.34 billion for the quarter, compared to the consensus estimate of $3.43 billion. Sandvik had a return on equity of 16.92% and a net margin of 12.16%. As a group, equities analysts forecast that Sandvik AB will post 1.71 EPS for the current year.

Institutional Investors Weigh In On Sandvik

A hedge fund recently raised its position in Sandvik stock. GAMMA Investing LLC lifted its holdings in Sandvik AB (OTCMKTS:SDVKY) by 6.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,489 shares of the industrial products company’s stock after acquiring an additional 616 shares during the period. GAMMA Investing LLC’s holdings in Sandvik were worth $432,000 as of its most recent filing with the SEC. 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.