Sandvik AB (OTCMKTS:SDVKY) Short Interest Up 195.2% in June

Sandvik AB (OTCMKTS:SDVKY) was the target of a large increase in short interest during the month of June. As of June 30th, there was short interest totaling 4,581 shares, an increase of 195.2% from the June 15th total of 1,552 shares. Approximately 0.0% of the shares of the stock are short sold. Based on an average daily volume of 532,202 shares, the short-interest ratio is presently 0.0 days.

Sandvik Stock Up 0.1%

SDVKY stock traded up $0.04 during trading on Tuesday, hitting $39.87. 1,164,454 shares of the company’s stock were exchanged, compared to its average volume of 140,182. The business has a 50-day moving average price of $40.42 and a two-hundred day moving average price of $39.66. The company has a current ratio of 1.96, a quick ratio of 1.06 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $50.01 billion, a price-to-earnings ratio of 31.39, a PEG ratio of 1.16 and a beta of 1.50. Sandvik has a 52-week low of $23.50 and a 52-week high of $44.53.

Sandvik (OTCMKTS:SDVKY) last announced its quarterly earnings results on Wednesday, April 22nd. The industrial products company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.32 by $0.04. The company had revenue of $3.34 billion for the quarter, compared to analyst estimates of $3.43 billion. Sandvik had a net margin of 12.16% and a return on equity of 16.92%. As a group, equities research analysts expect that Sandvik will post 1.71 EPS for the current year.

Institutional Investors Weigh In On Sandvik

A hedge fund recently raised its stake in Sandvik stock. GAMMA Investing LLC increased its position in shares of Sandvik AB (OTCMKTS:SDVKY) by 6.2% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 as of its most recent SEC filing. Institutional investors and hedge funds own 0.74% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Zacks Research cut shares of Sandvik from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 22nd. Citigroup lowered Sandvik from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. The Goldman Sachs Group reiterated a “sell” rating on shares of Sandvik in a report on Thursday, April 9th. Nordea Equity Research raised shares of Sandvik to a “hold” rating in a research report on Wednesday, April 15th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Sandvik in a research report on Thursday, June 18th. One research 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 given a Sell rating to the company. According to MarketBeat, Sandvik currently 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.