Sandvik AB (OTCMKTS:SDVKY) Sees Significant Decrease in Short Interest
by Teresa Graham · The Cerbat GemSandvik AB (OTCMKTS:SDVKY – Get Free Report) saw a large decrease in short interest in March. As of March 31st, there was short interest totaling 48,693 shares, a decrease of 43.3% from the March 15th total of 85,835 shares. Based on an average trading volume of 164,236 shares, the short-interest ratio is currently 0.3 days. Currently, 0.0% of the company’s stock are sold short.
Hedge Funds Weigh In On Sandvik
A hedge fund recently raised its stake in Sandvik stock. Salomon & Ludwin LLC lifted its stake in Sandvik AB (OTCMKTS:SDVKY – Free Report) by 3,795.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 857 shares of the industrial products company’s stock after purchasing an additional 835 shares during the quarter. Salomon & Ludwin LLC’s holdings in Sandvik were worth $25,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 0.74% of the company’s stock.
Sandvik Stock Down 0.2%
OTCMKTS:SDVKY opened at $43.55 on Wednesday. Sandvik has a fifty-two week low of $18.99 and a fifty-two week high of $44.43. The stock has a market capitalization of $54.63 billion, a P/E ratio of 35.99, a P/E/G ratio of 1.64 and a beta of 1.52. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.02 and a current ratio of 1.94. The company’s 50-day simple moving average is $40.69 and its 200-day simple moving average is $34.93.
Sandvik (OTCMKTS:SDVKY – Get Free Report) last released its quarterly earnings results on Tuesday, January 27th. The industrial products company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). The firm had revenue of $3.64 billion during the quarter, compared to the consensus estimate of $3.38 billion. Sandvik had a net margin of 12.16% and a return on equity of 16.94%. On average, equities analysts anticipate that Sandvik will post 1.27 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
Several brokerages have issued reports on SDVKY. Barclays reiterated an “overweight” rating on shares of Sandvik in a report on Wednesday, February 25th. Nordea Equity Research upgraded shares of Sandvik to a “hold” rating in a report on Wednesday. Jefferies Financial Group cut shares of Sandvik from a “strong-buy” rating to a “hold” rating in a report on Sunday, January 25th. Zacks Research cut shares of Sandvik from a “strong-buy” rating to a “hold” rating in a report on Monday, February 16th. Finally, Morgan Stanley cut shares of Sandvik from an “overweight” rating to an “equal weight” rating in a report on Thursday, March 12th. 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. According to MarketBeat.com, the stock currently has a consensus rating of “Hold”.
Read Our Latest Stock Report on SDVKY
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.