Sandvik (OTCMKTS:SDVKY) Reaches New 52-Week High - Here's Why

Key Points

• Sandvik AB shares reached a new 52-week high of $27.68, reflecting a significant increase in market performance.
• Analysts generally view Sandvik's stock positively, with a consensus rating of "Moderate Buy" and recommendations ranging from Strong Buy to Sell.
• The company reported quarterly earnings meeting expectations, with revenue of $3.04 billion and an earnings per share of $0.31.

Sandvik AB (OTCMKTS:SDVKY - Get Free Report) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $27.68 and last traded at $27.68, with a volume of 4415 shares traded. The stock had previously closed at $27.36.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Barclays reaffirmed an "overweight" rating on shares of Sandvik in a research report on Monday, September 8th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Sandvik in a 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 issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy".

Sandvik Stock Performance

The firm has a market cap of $34.56 billion, a price-to-earnings ratio of 24.60, a P/E/G ratio of 1.41 and a beta of 1.56. The firm's 50 day moving average price is $25.37 and its 200-day moving average price is $22.96. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.62 and a quick ratio of 0.86.

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, hitting the consensus estimate of $0.31. Sandvik had a net margin of 11.89% and a return on equity of 16.54%. The company had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $29.43 billion. On average, analysts anticipate that Sandvik AB will post 1.27 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC lifted its position in shares of Sandvik by 88.9% during the 1st quarter. GAMMA Investing LLC now owns 5,546 shares of the industrial products company's stock worth $117,000 after buying an additional 2,610 shares during the period. Yousif Capital Management LLC grew its position in 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. Finally, Rhumbline Advisers increased its holdings in Sandvik by 13.9% during 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 in the last quarter. Institutional investors own 0.74% of the company's stock.

Sandvik Company Profile

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.