Morgan Stanley Downgrades Sandvik (OTCMKTS:SDVKY) to Equal Weight

Sandvik (OTCMKTS:SDVKY) was downgraded by Morgan Stanley from an “overweight” rating to an “equal weight” rating in a report issued on Thursday.

Several other research analysts have also weighed in on SDVKY. Barclays reiterated an “overweight” rating on shares of Sandvik in a research report on Wednesday, February 25th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Sandvik in a report on Monday, December 8th. Citigroup reaffirmed a “buy” rating on shares of Sandvik in a research note on Monday, January 12th. Zacks Research cut shares of Sandvik from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 16th. Finally, Jefferies Financial Group lowered shares of Sandvik from a “strong-buy” rating to a “hold” rating in a report on Sunday, January 25th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Sandvik has an average rating of “Moderate Buy”.

Sandvik Stock Performance

OTCMKTS:SDVKY opened at $41.62 on Thursday. The company has a market cap of $52.20 billion, a P/E ratio of 34.39, a P/E/G ratio of 1.77 and a beta of 1.48. Sandvik has a twelve month low of $16.94 and a twelve month high of $44.43. The company’s 50-day moving average price is $39.32 and its 200-day moving average price is $32.76. The company has a current ratio of 1.94, a quick ratio of 1.02 and a debt-to-equity ratio of 0.38.

Sandvik (OTCMKTS:SDVKY) last released its quarterly earnings data on Tuesday, January 27th. The industrial products company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). The business had revenue of $3.64 billion during the quarter, compared to analyst estimates of $3.38 billion. Sandvik had a net margin of 12.16% and a return on equity of 16.94%. On average, sell-side analysts forecast that Sandvik will post 1.27 earnings per share for the current fiscal year.

Institutional Trading of Sandvik

An institutional investor recently raised its position in Sandvik stock. Salomon & Ludwin LLC raised its position in Sandvik AB (OTCMKTS:SDVKY) by 3,795.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 857 shares of the industrial products company’s stock after purchasing an additional 835 shares during the period. Salomon & Ludwin LLC’s holdings in Sandvik were worth $25,000 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors 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.