Sandvik AB (OTCMKTS:SDVKY) Short Interest Update

Sandvik AB (OTCMKTS:SDVKY) was the recipient of a significant drop in short interest in the month of June. As of June 15th, there was short interest totaling 1,552 shares, a drop of 94.2% from the May 31st total of 26,737 shares. Based on an average daily trading volume, of 236,656 shares, the days-to-cover ratio is presently 0.0 days. Currently, 0.0% of the shares of the company are short sold.

Sandvik Price Performance

Shares of OTCMKTS:SDVKY traded up $1.06 during trading on Thursday, hitting $40.67. 354,313 shares of the company’s stock were exchanged, compared to its average volume of 124,529. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.96 and a quick ratio of 1.06. Sandvik has a 52-week low of $22.46 and a 52-week high of $44.53. The business’s 50-day simple moving average is $40.94 and its 200 day simple moving average is $38.91. The company has a market cap of $51.02 billion, a price-to-earnings ratio of 32.02, a PEG ratio of 1.26 and a beta of 1.50.

Sandvik (OTCMKTS:SDVKY) last posted its quarterly earnings results on Wednesday, April 22nd. The industrial products company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.04. Sandvik had a return on equity of 16.92% and a net margin of 12.16%.The company had revenue of $3.34 billion for the quarter, compared to analysts’ expectations of $3.43 billion. As a group, equities analysts predict that Sandvik will post 1.69 EPS for the current year.

Hedge Funds Weigh In On Sandvik

An institutional investor recently raised its position in Sandvik stock. GAMMA Investing LLC boosted its stake in shares of Sandvik AB (OTCMKTS:SDVKY) by 17.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,704 shares of the industrial products company’s stock after acquiring an additional 1,298 shares during the period. GAMMA Investing LLC’s holdings in Sandvik were worth $281,000 at the end of the most recent quarter. 0.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SDVKY has been the subject of a number of recent research reports. Barclays reiterated an “overweight” rating on shares of Sandvik in a research note on Wednesday, February 25th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Sandvik in a research note on Thursday, June 18th. Nordea Equity Research upgraded shares of Sandvik to a “hold” rating in a research report on Wednesday, April 15th. The Goldman Sachs Group reissued a “sell” rating on shares of Sandvik in a research note on Thursday, April 9th. Finally, Zacks Research downgraded shares of Sandvik from a “strong-buy” rating to a “hold” rating in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Sandvik has a consensus rating of “Hold”.

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.