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

Key Points

• Sandvik AB attained a new 52-week high stock price of $28.39, closing at $28.32 with a trading volume of 343 shares.
• Wall Street analysts have a mixed outlook on Sandvik, with an average rating of "Moderate Buy", including one Strong Buy, two Buy, one Hold, and one Sell rating.
• Hedge funds have increased their stakes in Sandvik, with GAMMA Investing LLC raising its stake by 88.9% in the first quarter, highlighting growing institutional interest in the company.

Sandvik AB (OTCMKTS:SDVKY - Get Free Report)'s stock price hit a new 52-week high during trading on Thursday . The company traded as high as $28.39 and last traded at $28.32, with a volume of 343 shares. The stock had previously closed at $27.95.

Wall Street Analyst Weigh In

A number of brokerages recently commented on SDVKY. Barclays reissued an "overweight" rating on shares of Sandvik in a research note on Monday, September 8th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Sandvik in a report on Monday. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Sandvik currently has an average rating of "Moderate Buy".

Sandvik Stock Up 0.6%

The company has a current ratio of 1.62, a quick ratio of 0.86 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $35.27 billion, a price-to-earnings ratio of 25.11, a price-to-earnings-growth ratio of 1.43 and a beta of 1.60. The company has a 50-day moving average of $25.88 and a 200-day moving average of $23.23.

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. GAMMA Investing LLC increased its stake in shares of Sandvik by 88.9% in the first quarter. GAMMA Investing LLC now owns 5,546 shares of the industrial products company's stock worth $117,000 after acquiring an additional 2,610 shares during the period. Yousif Capital Management LLC increased its stake in shares of Sandvik by 15.9% in the second 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 period. Finally, Rhumbline Advisers grew its position in 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 purchasing an additional 4,562 shares during the period. 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.

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