Sandvik AB (OTCMKTS:SDVKY) Short Interest Update

Sandvik AB (OTCMKTS:SDVKY) saw a significant growth in short interest in May. As of May 15th, there was short interest totaling 22,143 shares, a growth of 160.1% from the April 30th total of 8,514 shares. Based on an average daily volume of 166,590 shares, the short-interest ratio is presently 0.1 days. Approximately 0.0% of the shares of the stock are sold short.

Analysts Set New Price Targets

Several brokerages have issued reports on SDVKY. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Sandvik in a report on Thursday, April 23rd. Morgan Stanley downgraded shares of Sandvik from an “overweight” rating to an “equal weight” rating in a report on Thursday, March 12th. Nordea Equity Research raised shares of Sandvik to a “hold” rating in a report on Wednesday, April 15th. Citigroup downgraded shares of Sandvik from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. Finally, Zacks Research raised shares of Sandvik from a “hold” rating to a “strong-buy” rating in a report on Monday, April 27th. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Sandvik has an average rating of “Moderate Buy”.

Hedge Funds Weigh In On Sandvik

A hedge fund recently raised its stake in Sandvik stock. GAMMA Investing LLC lifted its holdings in Sandvik AB (OTCMKTS:SDVKY) by 17.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. 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 as of its most recent SEC filing. Hedge funds and other institutional investors own 0.74% of the company’s stock.

Sandvik Stock Performance

Shares of SDVKY opened at $40.53 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.02 and a current ratio of 1.96. The company has a market capitalization of $50.84 billion, a price-to-earnings ratio of 31.91, a PEG ratio of 1.38 and a beta of 1.53. The company’s 50 day simple moving average is $40.42 and its 200 day simple moving average is $37.47. Sandvik has a 1 year low of $21.27 and a 1 year high of $44.53.

Sandvik (OTCMKTS:SDVKY) last issued its quarterly earnings results on Wednesday, April 22nd. The industrial products company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.32 by $0.04. Sandvik had a net margin of 12.16% and a return on equity of 16.92%. The firm had revenue of $3.34 billion during the quarter, compared to analyst estimates of $3.43 billion. On average, sell-side analysts predict that Sandvik will post 1.76 EPS for the current year.

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.