Sandvik AB (OTCMKTS:SDVKY) Sees Large Growth in Short Interest

Sandvik AB (OTCMKTS:SDVKY) saw a large growth in short interest in the month of December. As of December 15th, there was short interest totaling 40,342 shares, a growth of 26.3% from the November 30th total of 31,953 shares. Currently, 0.0% of the shares of the stock are short sold. Based on an average daily volume of 65,997 shares, the days-to-cover ratio is currently 0.6 days. Based on an average daily volume of 65,997 shares, the days-to-cover ratio is currently 0.6 days. Currently, 0.0% of the shares of the stock are short sold.

Hedge Funds Weigh In On Sandvik

Institutional investors and hedge funds have recently modified their holdings of the stock. Yousif Capital Management LLC raised its holdings in Sandvik by 15.9% during the 2nd quarter. Yousif Capital Management LLC now owns 22,037 shares of the industrial products company’s stock valued at $502,000 after buying an additional 3,030 shares during the period. Salomon & Ludwin LLC raised its stake in shares of Sandvik by 3,795.5% in the third quarter. Salomon & Ludwin LLC now owns 857 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 835 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Sandvik by 24.8% in the 3rd quarter. GAMMA Investing LLC now owns 7,406 shares of the industrial products company’s stock worth $208,000 after acquiring an additional 1,473 shares during the last quarter. Finally, Rhumbline Advisers boosted its stake in shares of Sandvik by 13.9% during the 1st quarter. Rhumbline Advisers now owns 37,269 shares of the industrial products company’s stock worth $788,000 after purchasing an additional 4,562 shares during the period. Hedge funds and other institutional investors own 0.74% of the company’s stock.

Analyst Ratings Changes

SDVKY has been the subject of a number of research analyst reports. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Sandvik in a report on Wednesday, October 22nd. Rothschild Redb upgraded shares of Sandvik from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 21st. Citigroup reiterated a “buy” rating on shares of Sandvik in a report on Tuesday, October 7th. Zacks Research upgraded shares of Sandvik from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 22nd. Finally, Barclays restated an “overweight” rating on shares of Sandvik in a research report on Wednesday, December 3rd. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy”.

Sandvik Price Performance

SDVKY stock opened at $32.46 on Friday. Sandvik has a 52 week low of $16.94 and a 52 week high of $33.25. The firm has a market capitalization of $40.72 billion, a P/E ratio of 27.74, a price-to-earnings-growth ratio of 1.56 and a beta of 1.50. The company has a fifty day simple moving average of $30.88 and a two-hundred day simple moving average of $27.46. The company has a quick ratio of 0.90, a current ratio of 1.78 and a debt-to-equity ratio of 0.40.

Sandvik (OTCMKTS:SDVKY) last posted its earnings results on Monday, October 20th. The industrial products company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.02). Sandvik had a return on equity of 16.30% and a net margin of 12.24%.The business had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $29.69 billion. Analysts anticipate that Sandvik will post 1.27 earnings per share for the current fiscal year.

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.