Sandvik (OTCMKTS:SDVKY) Upgraded to Hold at Berenberg Bank

Berenberg Bank upgraded shares of Sandvik (OTCMKTS:SDVKY) to a hold rating in a research report sent to investors on Thursday morning,Zacks.com reports.

A number of other brokerages have also weighed in on SDVKY. Kepler Capital Markets lowered shares of Sandvik from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 15th. Zacks Research cut shares of Sandvik from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 22nd. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Sandvik in a report on Thursday, June 18th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold”.

Sandvik Stock Down 1.5%

SDVKY stock opened at $40.81 on Thursday. The stock has a fifty day moving average of $38.84 and a 200-day moving average of $40.12. Sandvik has a fifty-two week low of $24.89 and a fifty-two week high of $44.53. The company has a market capitalization of $51.19 billion, a price-to-earnings ratio of 28.14, a PEG ratio of 1.19 and a beta of 1.51. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.84 and a current ratio of 1.64.

Institutional Investors Weigh In On Sandvik

An institutional investor recently raised its position in Sandvik stock. GAMMA Investing LLC lifted its position in Sandvik AB (OTCMKTS:SDVKY) by 6.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,489 shares of the industrial products company’s stock after buying an additional 616 shares during the quarter. GAMMA Investing LLC’s holdings in Sandvik were worth $432,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 0.74% of the company’s stock.

Sandvik Company Profile

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.