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

Key Points

• Sandvik AB shares reached a new 52-week high of $28.22, closing at $28.01 with a trading volume of 17,811 shares.
• The company has received a consensus rating of Moderate Buy from analysts, with varying ratings including one Strong Buy, two Buy, one Hold, and one Sell.
• Sandvik reported quarterly earnings of $0.31 per share, matching analysts' expectations, and had a revenue of $3.04 billion for the quarter.

Sandvik AB (OTCMKTS:SDVKY - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $28.22 and last traded at $28.01, with a volume of 17811 shares trading hands. The stock had previously closed at $27.64.

Analyst Ratings Changes

A number of brokerages recently issued reports on SDVKY. Barclays reissued an "overweight" rating on shares of Sandvik in a research report on Monday, September 8th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Sandvik in a research report on Wednesday, June 25th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Sandvik currently has a consensus rating of "Moderate Buy".

Sandvik Price Performance

The stock has a market cap of $35.14 billion, a price-to-earnings ratio of 25.01, a price-to-earnings-growth ratio of 1.41 and a beta of 1.56. The company has a 50-day simple moving average of $25.54 and a two-hundred day simple moving average of $23.03. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.86 and a current ratio of 1.62.

Sandvik (OTCMKTS:SDVKY - Get Free Report) last posted its quarterly earnings results on Wednesday, July 16th. The industrial products company reported $0.31 earnings per share for the quarter, hitting the consensus estimate of $0.31. The firm had revenue of $3.04 billion for the quarter, compared to analyst estimates of $29.43 billion. Sandvik had a return on equity of 16.54% and a net margin of 11.89%. As a group, equities research analysts forecast that Sandvik AB will post 1.27 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC increased its holdings in shares of Sandvik by 3,893.3% during the 1st quarter. GAMMA Investing LLC now owns 117,242 shares of the industrial products company's stock worth $2,478,000 after acquiring an additional 114,306 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of Sandvik by 13.9% during 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. Finally, Yousif Capital Management LLC increased its holdings 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 worth $502,000 after acquiring an additional 3,030 shares during the last quarter. 0.74% of the stock is owned by institutional investors and hedge funds.

About Sandvik

Sandvik AB (publ), an engineering company, provides products and solutions for mining and rock excavation, metal cutting, and materials technology worldwide. The company offers mining and rock excavation equipment, including drill rigs and bolters, underground loaders and trucks, mechanical cutting equipment, rock tools and rock drills, and mining automation; rock processing equipment, such as crushers, screens, hydraulic breakers, demolition tools, and breaker booms.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.