Sandvik (OTCMKTS:SDVKY) Sees Large Volume Increase – What’s Next?
by Amy Steele · The Cerbat GemSandvik AB (OTCMKTS:SDVKY – Get Free Report) saw strong trading volume on Monday . 92,712 shares were traded during trading, an increase of 98% from the previous session’s volume of 46,752 shares.The stock last traded at $32.26 and had previously closed at $31.79.
Analysts Set New Price Targets
A number of equities research analysts have commented on the stock. Citigroup reissued a “buy” rating on shares of Sandvik in a research report on Tuesday, October 7th. Barclays reiterated an “overweight” rating on shares of Sandvik in a research note on Wednesday, December 3rd. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Sandvik in a report on Wednesday, October 22nd. Rothschild Redb upgraded Sandvik from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 21st. Finally, Pareto Securities cut Sandvik from a “buy” rating to a “hold” rating in a research note on Sunday, October 5th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy”.
Read Our Latest Report on Sandvik
Sandvik Stock Performance
The firm’s 50-day moving average is $30.28 and its 200 day moving average is $26.88. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.90 and a current ratio of 1.78. The stock has a market cap of $40.52 billion, a PE ratio of 27.61, a P/E/G ratio of 1.65 and a beta of 1.52.
Sandvik (OTCMKTS:SDVKY – Get Free Report) last issued its quarterly earnings results on Monday, October 20th. The industrial products company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.02). The company had revenue of $3.10 billion during the quarter, compared to analyst estimates of $29.69 billion. Sandvik had a net margin of 12.24% and a return on equity of 16.30%. As a group, research analysts anticipate that Sandvik AB will post 1.27 EPS for the current year.
Institutional Investors Weigh In On Sandvik
Hedge funds have recently modified their holdings of the stock. Salomon & Ludwin LLC boosted its holdings in shares of Sandvik by 3,795.5% in the third quarter. Salomon & Ludwin LLC now owns 857 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 835 shares in the last quarter. GAMMA Investing LLC lifted its position in Sandvik by 24.8% in the third quarter. GAMMA Investing LLC now owns 7,406 shares of the industrial products company’s stock valued at $208,000 after purchasing an additional 1,473 shares during the period. Yousif Capital Management LLC boosted its holdings in 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 in the last quarter. Finally, Rhumbline Advisers increased 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 (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.