Sandvik AB (OTCMKTS:SDVKY) Short Interest Update

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

Institutional Investors Weigh In On Sandvik

A hedge fund recently raised its position in Sandvik stock. GAMMA Investing LLC increased its stake in Sandvik AB (OTCMKTS:SDVKY) by 17.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 8,704 shares of the industrial products company’s stock after purchasing an additional 1,298 shares during the quarter. GAMMA Investing LLC’s holdings in Sandvik were worth $281,000 at the end of the most recent quarter. Institutional investors own 0.74% of the company’s stock.

Sandvik Stock Performance

Shares of Sandvik stock traded up $1.06 during trading hours on Thursday, reaching $40.67. 354,313 shares of the stock traded hands, compared to its average volume of 124,529. Sandvik has a one year low of $22.46 and a one year high of $44.53. The firm has a market capitalization of $51.02 billion, a price-to-earnings ratio of 32.02, a P/E/G ratio of 1.26 and a beta of 1.50. The company has a quick ratio of 1.06, a current ratio of 1.96 and a debt-to-equity ratio of 0.36. The company has a 50 day moving average price of $40.94 and a 200 day moving average price of $38.91.

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

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Zacks Research downgraded shares of Sandvik from a “strong-buy” rating to a “hold” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Sandvik in a research report on Thursday, June 18th. Nordea Equity Research raised Sandvik to a “hold” rating in a report on Wednesday, April 15th. The Goldman Sachs Group restated a “sell” rating on shares of Sandvik in a research note on Thursday, April 9th. Finally, Citigroup cut Sandvik from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Sandvik presently has a consensus rating of “Hold”.

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.