Sandvik AB (publ) (OTCMKTS:SDVKY) Hits New 52-Week Low – Here’s What Happened

Sandvik AB (publ) (OTCMKTS:SDVKY) reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $18.09 and last traded at $18.25, with a volume of 256187 shares. The stock had previously closed at $18.54.

Analysts Set New Price Targets

A number of equities research analysts have commented on SDVKY shares. UBS Group cut Sandvik AB (publ) from a “neutral” rating to a “sell” rating in a research note on Wednesday, October 23rd. Citigroup raised shares of Sandvik AB (publ) to a “strong-buy” rating in a research report on Tuesday, October 15th. Finally, Barclays upgraded shares of Sandvik AB (publ) from a “strong sell” rating to a “strong-buy” rating in a research note on Wednesday, October 9th.

Sandvik AB (publ) Stock Performance

The company has a quick ratio of 0.85, a current ratio of 1.58 and a debt-to-equity ratio of 0.45. The stock has a market cap of $22.96 billion, a PE ratio of 16.34, a price-to-earnings-growth ratio of 2.95 and a beta of 1.50. The stock has a 50-day moving average of $20.43 and a 200 day moving average of $20.60.

Sandvik AB (publ) (OTCMKTS:SDVKY) last announced its quarterly earnings results on Monday, October 21st. The industrial products company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.02). The company had revenue of $2.91 billion for the quarter. Sandvik AB (publ) had a return on equity of 16.56% and a net margin of 9.93%. As a group, sell-side analysts anticipate that Sandvik AB will post 1.23 earnings per share for the current year.

Hedge Funds Weigh In On Sandvik AB (publ)

An institutional investor recently raised its position in Sandvik AB (publ) stock. GAMMA Investing LLC grew its holdings in shares of Sandvik AB (publ) (OTCMKTS:SDVKY) by 14.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,425 shares of the industrial products company’s stock after purchasing an additional 564 shares during the quarter. GAMMA Investing LLC’s holdings in Sandvik AB (publ) were worth $99,000 at the end of the most recent quarter. Institutional investors own 0.74% of the company’s stock.

About Sandvik AB (publ)

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.