Sandvik AB (OTCMKTS:SDVKY) Short Interest Down 74.4% in February

Sandvik AB (OTCMKTS:SDVKY) was the target of a large decrease in short interest during the month of February. As of February 13th, there was short interest totaling 9,108 shares, a decrease of 74.4% from the January 29th total of 35,647 shares. Currently, 0.0% of the shares of the company are sold short. Based on an average trading volume of 273,522 shares, the short-interest ratio is currently 0.0 days. Based on an average trading volume of 273,522 shares, the short-interest ratio is currently 0.0 days. Currently, 0.0% of the shares of the company are sold short.

Sandvik Price Performance

Shares of OTCMKTS SDVKY opened at $44.00 on Friday. The stock has a market capitalization of $55.19 billion, a price-to-earnings ratio of 36.36, a price-to-earnings-growth ratio of 1.89 and a beta of 1.51. Sandvik has a 52 week low of $16.94 and a 52 week high of $44.43. The firm has a 50-day simple moving average of $37.92 and a 200-day simple moving average of $31.81. The company has a quick ratio of 1.02, a current ratio of 1.94 and a debt-to-equity ratio of 0.38.

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 analysts’ consensus estimates of $0.37 by ($0.01). Sandvik had a return on equity of 16.94% and a net margin of 12.16%.The business had revenue of $3.64 billion during the quarter, compared to analysts’ expectations of $3.38 billion. On average, equities analysts predict that Sandvik will post 1.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Sandvik stock. Salomon & Ludwin LLC grew its holdings in Sandvik AB (OTCMKTS:SDVKY) by 3,795.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 857 shares of the industrial products company’s stock after purchasing an additional 835 shares during the period. Salomon & Ludwin LLC’s holdings in Sandvik were worth $25,000 as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 0.74% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on SDVKY. Jefferies Financial Group downgraded Sandvik from a “strong-buy” rating to a “hold” rating in a research report on Sunday, January 25th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Sandvik in a report on Monday, December 8th. Citigroup reaffirmed a “buy” rating on shares of Sandvik in a report on Monday, January 12th. Barclays restated an “overweight” rating on shares of Sandvik in a research report on Wednesday. Finally, Zacks Research cut Sandvik from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 16th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Sandvik has a consensus rating of “Moderate 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.