Sandvik (OTCMKTS:SDVKY) Rating Increased to Hold at Berenberg Bank

Sandvik (OTCMKTS:SDVKY) was upgraded by Berenberg Bank to a “hold” rating in a research note issued to investors on Thursday,Zacks.com reports.

A number of other research firms also recently weighed in on SDVKY. Kepler Capital Markets downgraded Sandvik from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 15th. Zacks Research downgraded shares of Sandvik from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 22nd. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Sandvik in a report on Thursday, June 18th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Sandvik currently has an average rating of “Hold”.

Sandvik Stock Down 1.5%

SDVKY opened at $40.81 on Thursday. The business’s fifty day simple moving average is $38.84 and its 200 day simple moving average is $40.12. Sandvik has a 52 week low of $24.89 and a 52 week high of $44.53. The company has a quick ratio of 0.84, a current ratio of 1.64 and a debt-to-equity ratio of 0.31. The stock has a market cap of $51.19 billion, a PE ratio of 28.14, a P/E/G ratio of 1.19 and a beta of 1.51.

Institutional Investors Weigh In On Sandvik

An institutional investor recently raised its stake in Sandvik stock. GAMMA Investing LLC raised its holdings in shares of Sandvik AB (OTCMKTS:SDVKY) by 6.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,489 shares of the industrial products company’s stock after purchasing an additional 616 shares during the period. GAMMA Investing LLC’s holdings in Sandvik were worth $432,000 at the end of the most recent reporting period. 0.74% of the stock is owned by institutional investors and hedge funds.

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.