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

Sandvik AB (OTCMKTS:SDVKY) was the target of a significant drop in short interest in January. As of January 30th, there was short interest totaling 35,647 shares, a drop of 88.4% from the January 15th total of 307,709 shares. Approximately 0.0% of the company’s stock are sold short. Based on an average trading volume of 399,489 shares, the short-interest ratio is presently 0.1 days. Based on an average trading volume of 399,489 shares, the short-interest ratio is presently 0.1 days. Approximately 0.0% of the company’s stock are sold short.

Institutional Trading of Sandvik

Hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its holdings in Sandvik by 17.5% in the 4th quarter. GAMMA Investing LLC now owns 8,704 shares of the industrial products company’s stock valued at $281,000 after purchasing an additional 1,298 shares in the last quarter. Salomon & Ludwin LLC boosted 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 buying an additional 835 shares in the last quarter. Finally, Yousif Capital Management LLC grew its holdings in Sandvik by 15.9% during the second quarter. Yousif Capital Management LLC now owns 22,037 shares of the industrial products company’s stock worth $502,000 after acquiring an additional 3,030 shares during the period. 0.74% of the stock is owned by institutional investors and hedge funds.

Sandvik Stock Performance

Shares of SDVKY traded up $0.18 during mid-day trading on Tuesday, reaching $42.93. 53,374 shares of the company’s stock were exchanged, compared to its average volume of 255,144. The business’s fifty day simple moving average is $34.67 and its 200-day simple moving average is $30.12. Sandvik has a 52-week low of $16.94 and a 52-week high of $43.11. The stock has a market capitalization of $53.85 billion, a PE ratio of 35.48, a price-to-earnings-growth ratio of 1.83 and a beta of 1.51. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.78 and a quick ratio of 0.90.

Sandvik (OTCMKTS:SDVKY) last issued its quarterly earnings data on Tuesday, January 27th. The industrial products company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.01). Sandvik had a return on equity of 17.13% and a net margin of 12.16%.The business had revenue of $3.64 billion for the quarter, compared to analysts’ expectations of $3.38 billion. On average, equities research analysts expect that Sandvik will post 1.27 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Zacks Research raised Sandvik from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 22nd. Jefferies Financial Group cut shares of Sandvik from a “strong-buy” rating to a “hold” rating in a report on Sunday, January 25th. Rothschild & Co Redburn upgraded shares of Sandvik from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 21st. Royal Bank Of Canada restated an “outperform” rating on shares of Sandvik in a report on Wednesday, October 22nd. Finally, Barclays reaffirmed an “overweight” rating on shares of Sandvik in a research report on Thursday, January 29th. Two research 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 stock. Based on data from MarketBeat, Sandvik presently has a consensus rating of “Buy”.

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.