Sandvik AB (publ) (OTCMKTS:SDVKY) Hits New 52-Week Low - Here's Why

Sandvik AB (publ) (OTCMKTS:SDVKY - Get Free Report) reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $17.40 and last traded at $17.71, with a volume of 268594 shares. The stock had previously closed at $18.17.

Wall Street Analysts Forecast Growth

Separately, Sanford C. Bernstein raised Sandvik AB (publ) from an "underperform" rating to a "market perform" rating in a research report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, one has issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Sandvik AB (publ) presently has an average rating of "Moderate Buy".

Sandvik AB (publ) Stock Up 2.0 %

The company's fifty day simple moving average is $21.52 and its 200 day simple moving average is $20.18. The company has a current ratio of 1.79, a quick ratio of 0.94 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $24.08 billion, a P/E ratio of 20.65, a price-to-earnings-growth ratio of 1.00 and a beta of 1.48.

Sandvik AB (publ) (OTCMKTS:SDVKY - Get Free Report) last issued its quarterly earnings data on Thursday, January 23rd. The industrial products company reported $0.30 EPS for the quarter, hitting the consensus estimate of $0.30. Sandvik AB (publ) had a net margin of 9.92% and a return on equity of 16.07%. Research analysts expect that Sandvik AB will post 1.27 EPS for the current year.

Hedge Funds Weigh In On Sandvik AB (publ)

An institutional investor recently raised its position in Sandvik AB (publ) stock. Rhumbline Advisers grew its position in Sandvik AB (publ) (OTCMKTS:SDVKY - Free Report) by 12.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 32,707 shares of the industrial products company's stock after buying an additional 3,607 shares during the period. Rhumbline Advisers' holdings in Sandvik AB (publ) were worth $585,000 as of its most recent SEC filing. 0.74% of the stock is owned by institutional investors and hedge funds.

Sandvik AB (publ) 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.