Sandvik (OTCMKTS:SDVKY) Sees Unusually-High Trading Volume - Here's What Happened

Key Points

• Sandvik saw unusually high trading volume, with about 714,874 shares changing hands, up 441% from the prior session, while the stock edged higher to $40.24.
• Analysts are generally cautious on the stock: the consensus rating is now “Hold” after a mix of upgrades and downgrades from firms including Nordea, Zacks, Citigroup, Goldman Sachs, and Deutsche Bank.
• The company’s latest earnings beat expectations, with $0.36 EPS versus $0.32 expected, though revenue came in slightly below estimates at $3.34 billion.

Sandvik AB (OTCMKTS:SDVKY - Get Free Report) saw unusually-high trading volume on Tuesday . Approximately 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.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Nordea Equity Research raised Sandvik to a "hold" rating in a report on Wednesday, April 15th. Zacks Research cut Sandvik from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 22nd. The Goldman Sachs Group reiterated a "sell" rating on shares of Sandvik in a research note on Thursday, April 9th. Citigroup lowered Sandvik from a "strong-buy" rating to a "hold" rating in a report on Monday, April 13th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Sandvik in a report on Thursday, June 18th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold".

Sandvik Price Performance

The business has a fifty day moving average of $40.42 and a 200-day moving average of $39.66. The firm has a market cap of $49.96 billion, a PE ratio of 31.36, a PEG ratio of 1.16 and a beta of 1.50. The company has a current ratio of 1.96, a quick ratio of 1.06 and a debt-to-equity ratio of 0.36.

Sandvik (OTCMKTS:SDVKY - Get Free Report) last posted its earnings results on Wednesday, April 22nd. The industrial products company reported $0.36 earnings per share for the quarter, beating analysts' consensus estimates of $0.32 by $0.04. Sandvik had a return on equity of 16.92% and a net margin of 12.16%.The business had revenue of $3.34 billion during the quarter, compared to analyst estimates of $3.43 billion. As a group, research analysts predict that Sandvik AB will post 1.71 earnings per share for the current year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Sandvik stock. GAMMA Investing LLC lifted its position in Sandvik AB (OTCMKTS:SDVKY - Free Report) by 17.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,704 shares of the industrial products company's stock after purchasing an additional 1,298 shares during the quarter. GAMMA Investing LLC's holdings in Sandvik were worth $281,000 at the end of the most recent quarter. 0.74% of the stock is currently 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.

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