Sandvik AB (OTCMKTS:SDVKY) Sees Significant Increase in Short Interest

Sandvik AB (OTCMKTS:SDVKY) saw a large growth in short interest during the month of March. As of March 13th, there was short interest totaling 85,835 shares, a growth of 63.0% from the February 26th total of 52,662 shares. Approximately 0.0% of the company’s shares are short sold. Based on an average daily volume of 242,156 shares, the days-to-cover ratio is currently 0.4 days.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on SDVKY shares. Morgan Stanley downgraded shares of Sandvik from an “overweight” rating to an “equal weight” rating in a research note on Thursday, March 12th. Barclays reaffirmed an “overweight” rating on shares of Sandvik in a report on Wednesday, February 25th. Citigroup reiterated a “buy” rating on shares of Sandvik in a research report on Monday, January 12th. Zacks Research lowered Sandvik from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 16th. Finally, Jefferies Financial Group cut Sandvik from a “strong-buy” rating to a “hold” rating in a research note on Sunday, January 25th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Sandvik currently has a consensus rating of “Moderate Buy”.

Sandvik Stock Down 0.8%

Sandvik stock opened at $36.29 on Friday. The firm has a market capitalization of $45.52 billion, a price-to-earnings ratio of 29.99, a PEG ratio of 1.56 and a beta of 1.48. The company’s 50 day simple moving average is $40.10 and its 200 day simple moving average is $33.72. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.94 and a quick ratio of 1.02. Sandvik has a fifty-two week low of $16.94 and a fifty-two week high of $44.43.

Sandvik (OTCMKTS:SDVKY) last issued its earnings results on Tuesday, January 27th. The industrial products company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.01). Sandvik had a net margin of 12.16% and a return on equity of 16.94%. The firm had revenue of $3.64 billion during the quarter, compared to the consensus estimate of $3.38 billion. As a group, sell-side analysts anticipate that Sandvik will post 1.27 EPS for the current year.

Institutional Investors Weigh In On Sandvik

An institutional investor recently raised its position in Sandvik stock. Salomon & Ludwin LLC lifted its stake in shares of Sandvik AB (OTCMKTS:SDVKY) by 3,795.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 857 shares of the industrial products company’s stock after acquiring an additional 835 shares during the period. Salomon & Ludwin LLC’s holdings in Sandvik were worth $25,000 at the end of the most recent quarter. Institutional investors and hedge funds own 0.74% of the company’s stock.

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.