Sandvik (OTCMKTS:SDVKY) Sets New 1-Year High - Here's What Happened

Sandvik AB (OTCMKTS:SDVKY - Get Free Report) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $25.25 and last traded at $25.25, with a volume of 498 shares traded. The stock had previously closed at $25.00.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Barclays reissued an "overweight" rating on shares of Sandvik in a research report on Thursday, July 10th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Sandvik in a research report on Wednesday, June 25th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy".

Sandvik Price Performance

The company has a market capitalization of $32.43 billion, a price-to-earnings ratio of 23.08, a P/E/G ratio of 1.75 and a beta of 1.51. The stock has a fifty day simple moving average of $22.92 and a 200-day simple moving average of $21.65. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.85 and a quick ratio of 0.98.

Sandvik (OTCMKTS:SDVKY - Get Free Report) last announced its earnings results on Wednesday, July 16th. The industrial products company reported $0.31 EPS for the quarter, meeting analysts' consensus estimates of $0.31. Sandvik had a return on equity of 16.66% and a net margin of 11.89%. The business had revenue of $3.04 billion during the quarter, compared to analysts' expectations of $29.43 billion. On average, equities research analysts anticipate that Sandvik AB will post 1.27 EPS for the current year.

Hedge Funds Weigh In On Sandvik

Institutional investors and hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC lifted its stake in shares of Sandvik by 88.9% in the 1st quarter. GAMMA Investing LLC now owns 5,546 shares of the industrial products company's stock valued at $117,000 after purchasing an additional 2,610 shares during the last quarter. Yousif Capital Management LLC lifted its stake in shares of 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 purchasing an additional 3,030 shares during the last quarter. Finally, Rhumbline Advisers lifted 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 valued at $788,000 after purchasing an additional 4,562 shares during the last quarter. 0.74% of the stock is currently 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.