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

Key Points

• Sandvik’s trading volume surged 114% to approximately 294,650 shares, while the stock fell 1.8% to $37.38 from its prior close of $38.10.
• Analyst sentiment is generally cautious: Sandvik has an average “Hold” rating, with seven Holds, three Buys, one Strong Buy and one Sell.
• Sandvik has a $46.93 billion market capitalization and relatively low debt-to-equity of 0.31; institutional investors own just 0.74% of the company, though GAMMA Investing recently increased its stake by 6.2%.

Sandvik AB (OTCMKTS:SDVKY - Get Free Report) saw an uptick in trading volume on Thursday . Approximately 294,650 shares were traded during trading, an increase of 114% from the previous session's volume of 137,833 shares.The stock last traded at $37.38 and had previously closed at $38.10.

Wall Street Analysts Forecast Growth

SDVKY has been the subject of a number of analyst reports. Kepler Capital Markets cut Sandvik from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 15th. Zacks Research downgraded Sandvik from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 22nd. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Sandvik in a report on Thursday, June 18th. Finally, Nordea Equity Research upgraded shares of Sandvik to a "hold" rating in a research report on Wednesday, April 15th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold".

Sandvik Trading Down 1.8%

The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.84 and a current ratio of 1.64. The company has a market capitalization of $46.93 billion, a PE ratio of 25.80, a PEG ratio of 1.10 and a beta of 1.51. The stock has a fifty day moving average of $39.12 and a 200 day moving average of $40.16.

Institutional Trading of Sandvik

An institutional investor recently raised its position in Sandvik stock. GAMMA Investing LLC raised its stake in shares of Sandvik AB (OTCMKTS:SDVKY - Free Report) by 6.2% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,489 shares of the industrial products company's stock after purchasing an additional 616 shares during the period. GAMMA Investing LLC's holdings in Sandvik were worth $432,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 0.74% of the company's stock.

Sandvik Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source