Short Interest in Sandvik AB (OTCMKTS:SDVKY) Drops By 94.2%

Sandvik AB (OTCMKTS:SDVKY) was the recipient of a significant drop in short interest during the month of June. As of June 15th, there was short interest totaling 1,552 shares, a drop of 94.2% from the May 31st total of 26,737 shares. Based on an average daily volume of 236,656 shares, the short-interest ratio is presently 0.0 days. Currently, 0.0% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on SDVKY. Citigroup downgraded Sandvik from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. Zacks Research cut Sandvik from a “strong-buy” rating to a “hold” rating in a report on Monday. The Goldman Sachs Group reaffirmed a “sell” rating on shares of Sandvik in a report on Thursday, April 9th. Morgan Stanley cut Sandvik from an “overweight” rating to an “equal weight” rating in a research report on Thursday, March 12th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Sandvik in a report on Thursday, June 18th. One equities 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 assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold”.

Institutional Investors Weigh In On Sandvik

A hedge fund recently raised its stake in Sandvik stock. GAMMA Investing LLC raised its position in shares of Sandvik AB (OTCMKTS:SDVKY) by 17.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,704 shares of the industrial products company’s stock after acquiring an additional 1,298 shares during the quarter. GAMMA Investing LLC’s holdings in Sandvik were worth $281,000 as of its most recent SEC filing. Institutional investors own 0.74% of the company’s stock.

Sandvik Price Performance

Shares of Sandvik stock traded down $1.08 during trading hours on Friday, reaching $39.59. The stock had a trading volume of 336,031 shares, compared to its average volume of 130,386. The stock’s 50 day moving average is $40.94 and its 200 day moving average is $38.91. The company has a current ratio of 1.96, a quick ratio of 1.06 and a debt-to-equity ratio of 0.36. Sandvik has a twelve month low of $22.68 and a twelve month high of $44.53. The firm has a market capitalization of $49.66 billion, a PE ratio of 31.17, a PEG ratio of 1.26 and a beta of 1.50.

Sandvik (OTCMKTS:SDVKY) last posted its earnings results on Wednesday, April 22nd. The industrial products company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.04. The firm had revenue of $3.34 billion for the quarter, compared to analysts’ expectations of $3.43 billion. Sandvik had a return on equity of 16.92% and a net margin of 12.16%. Equities analysts expect that Sandvik will post 1.69 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.