Sandvik (OTCMKTS:SDVKY) Hits New 52-Week High – Here’s Why

Sandvik AB (OTCMKTS:SDVKY) shares reached a new 52-week high on Wednesday . The stock traded as high as $36.01 and last traded at $35.8980, with a volume of 7509 shares changing hands. The stock had previously closed at $34.89.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Barclays reiterated an “overweight” rating on shares of Sandvik in a report on Wednesday, December 3rd. Zacks Research upgraded Sandvik from a “hold” rating to a “strong-buy” rating in a report on Monday, December 22nd. Pareto Securities cut Sandvik from a “buy” rating to a “hold” rating in a research note 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, Citigroup reiterated a “buy” rating on shares of Sandvik in a research note on Monday, January 12th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy”.

Sandvik Stock Up 3.0%

The company has a debt-to-equity ratio of 0.40, a current ratio of 1.78 and a quick ratio of 0.90. The firm has a market capitalization of $44.56 billion, a P/E ratio of 30.70, a P/E/G ratio of 1.25 and a beta of 1.50. The company’s 50-day simple moving average is $31.96 and its two-hundred day simple moving average is $28.62.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of SDVKY. Yousif Capital Management LLC grew its position in Sandvik by 15.9% in the 2nd quarter. Yousif Capital Management LLC now owns 22,037 shares of the industrial products company’s stock valued at $502,000 after acquiring an additional 3,030 shares during the last quarter. GAMMA Investing LLC raised 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 during the last quarter. Finally, Salomon & Ludwin LLC raised its position in Sandvik by 3,795.5% during 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. 0.74% of the stock is owned by hedge funds and other institutional investors.

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.