Sandvik (OTCMKTS:SDVKY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Wednesday.

According to Zacks, “Sandvik is a high-technology, engineering group with advanced products and a world-leading position within selected areas. Worldwide business activities are conducted through representation in 130 countries. “

Separately, ValuEngine downgraded shares of Sandvik from a “buy” rating to a “hold” rating in a research note on Wednesday, October 11th.

Shares of Sandvik (OTCMKTS:SDVKY) opened at $16.91 on Wednesday. Sandvik has a 12 month low of $12.01 and a 12 month high of $18.40. The company has a market cap of $20,979.61, a P/E ratio of 20.65, a price-to-earnings-growth ratio of 2.70 and a beta of 0.78.

An institutional investor recently raised its position in Sandvik stock. Parametric Portfolio Associates LLC grew its stake in Sandvik AB (OTCMKTS:SDVKY) by 14.5% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 665,023 shares of the industrial products company’s stock after buying an additional 83,981 shares during the quarter. Parametric Portfolio Associates LLC’s holdings in Sandvik were worth $10,521,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 0.07% of the company’s stock.

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Sandvik Company Profile

Sandvik AB (Sandvik) is an engineering company in mining and rock excavation, metal-cutting and materials technology. The Company is engaged in the developing, manufacturing and marketing processed products and services. Its segments include Sandvik Machining Solutions, Sandvik Mining and Rock Technology, Sandvik Materials Technology and Other Operations.

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