Sandvik (OTCMKTS:SDVKY) Sees Unusually-High Trading Volume – Here’s What Happened
by Teresa Graham · The Cerbat GemSandvik AB (OTCMKTS:SDVKY – Get Free Report) saw unusually-high trading volume on Friday . Approximately 61,546 shares changed hands during trading, an increase of 47% from the previous session’s volume of 41,895 shares.The stock last traded at $34.42 and had previously closed at $33.85.
Analyst Upgrades and Downgrades
Several brokerages recently commented on SDVKY. Citigroup reaffirmed a “buy” rating on shares of Sandvik in a report on Tuesday, October 7th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Sandvik in a research report on Monday, December 8th. Zacks Research raised shares of Sandvik from a “hold” rating to a “strong-buy” rating in a report on Monday, December 22nd. Barclays reaffirmed an “overweight” rating on shares of Sandvik in a report on Wednesday, December 3rd. Finally, Royal Bank Of Canada reissued an “outperform” rating on shares of Sandvik in a research report on Wednesday, October 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Sandvik presently has an average rating of “Buy”.
Check Out Our Latest Analysis on Sandvik
Sandvik Price Performance
The firm’s fifty day simple moving average is $31.18 and its two-hundred day simple moving average is $27.86. The company has a quick ratio of 0.90, a current ratio of 1.78 and a debt-to-equity ratio of 0.40. The firm has a market cap of $43.25 billion, a PE ratio of 29.47, a P/E/G ratio of 1.41 and a beta of 1.50.
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 analysts’ consensus estimates of $0.32 by ($0.02). Sandvik had a return on equity of 16.30% and a net margin of 12.24%.The business had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $29.69 billion. As a group, research analysts expect that Sandvik AB will post 1.27 EPS for the current year.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in SDVKY. Rhumbline Advisers boosted its stake in Sandvik by 13.9% in 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. Yousif Capital Management LLC boosted its position in shares of Sandvik by 15.9% during 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 last quarter. GAMMA Investing LLC grew its stake in Sandvik by 17.5% during the fourth quarter. GAMMA Investing LLC now owns 8,704 shares of the industrial products company’s stock valued at $281,000 after acquiring an additional 1,298 shares in the last quarter. Finally, Salomon & Ludwin LLC increased its holdings in Sandvik by 3,795.5% in the 3rd 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 during the last quarter. 0.74% of the stock is owned by hedge funds and other institutional investors.
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.