Sandvik (OTCMKTS:SDVKY) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Wednesday.

According to Zacks, “Sandvik is a high-technology, engineering group with advanced products and a world-leading position within selected areas. Worldwide business activities are conducted through representation in 130 countries. “

Separately, ValuEngine lowered Sandvik from a “buy” rating to a “hold” rating in a research note on Wednesday, October 11th.

Sandvik (SDVKY) opened at $17.19 on Wednesday. Sandvik has a one year low of $11.78 and a one year high of $18.40. The stock has a market capitalization of $21,437.46, a price-to-earnings ratio of 21.10, a PEG ratio of 2.76 and a beta of 0.78.

An institutional investor recently raised its position in Sandvik stock. Parametric Portfolio Associates LLC raised its stake in Sandvik AB (OTCMKTS:SDVKY) by 14.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 665,023 shares of the industrial products company’s stock after buying an additional 83,981 shares during the quarter. Parametric Portfolio Associates LLC’s holdings in Sandvik were worth $10,521,000 as of its most recent filing with the Securities and Exchange Commission. 0.07% of the stock is owned by institutional investors.

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Sandvik Company Profile

Sandvik AB (Sandvik) is an engineering company in mining and rock excavation, metal-cutting and materials technology. The Company is engaged in the developing, manufacturing and marketing processed products and services. Its segments include Sandvik Machining Solutions, Sandvik Mining and Rock Technology, Sandvik Materials Technology and Other Operations.

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