Sandvik AB (OTCMKTS:SDVKY) Short Interest Update

Sandvik AB (OTCMKTS:SDVKY) was the target of a large decline in short interest during the month of January. As of January 30th, there was short interest totaling 35,647 shares, a decline of 88.4% from the January 15th total of 307,709 shares. Based on an average trading volume of 399,489 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.0% of the shares of the stock are short sold. Currently, 0.0% of the shares of the stock are short sold. Based on an average trading volume of 399,489 shares, the days-to-cover ratio is presently 0.1 days.

Analysts Set New Price Targets

A number of research firms recently weighed in on SDVKY. Barclays reissued an “overweight” rating on shares of Sandvik in a report on Thursday, January 29th. Royal Bank Of Canada reissued an “outperform” rating on shares of Sandvik in a research note on Wednesday, October 22nd. Citigroup restated a “buy” rating on shares of Sandvik in a research report on Monday, January 12th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Sandvik in a report on Monday, December 8th. Finally, Rothschild & Co Redburn raised Sandvik from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 21st. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Sandvik presently has an average rating of “Buy”.

Sandvik Price Performance

SDVKY opened at $43.90 on Thursday. The company has a quick ratio of 0.90, a current ratio of 1.78 and a debt-to-equity ratio of 0.40. The business has a fifty day moving average of $35.17 and a 200 day moving average of $30.34. Sandvik has a 52-week low of $16.94 and a 52-week high of $44.00. The stock has a market cap of $55.07 billion, a P/E ratio of 36.28, a PEG ratio of 1.83 and a beta of 1.51.

Sandvik (OTCMKTS:SDVKY) last released its earnings results on Tuesday, January 27th. The industrial products company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.01). The business had revenue of $3.64 billion for the quarter, compared to the consensus estimate of $3.38 billion. Sandvik had a return on equity of 17.13% and a net margin of 12.16%. As a group, sell-side analysts anticipate that Sandvik will post 1.27 EPS for the current year.

Hedge Funds Weigh In On Sandvik

Hedge funds have recently added to or reduced their stakes in the stock. Salomon & Ludwin LLC raised its stake in shares of Sandvik by 3,795.5% during 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 in the last quarter. GAMMA Investing LLC increased its holdings in Sandvik by 24.8% during the 3rd quarter. GAMMA Investing LLC now owns 7,406 shares of the industrial products company’s stock worth $208,000 after purchasing an additional 1,473 shares during the period. Finally, Yousif Capital Management LLC raised its position 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 purchasing an additional 3,030 shares in the last quarter. 0.74% of the stock is currently owned by institutional investors.

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.