Sandvik (OTCMKTS:SDVKY) Shares Gap Down – Time to Sell?

Shares of Sandvik AB (OTCMKTS:SDVKY) gapped down prior to trading on Monday . The stock had previously closed at $40.38, but opened at $38.25. Sandvik shares last traded at $38.44, with a volume of 31,399 shares.

Analyst Ratings Changes

SDVKY has been the topic of a number of research reports. Zacks Research cut Sandvik from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 16th. Citigroup restated a “buy” rating on shares of Sandvik in a report on Monday, January 12th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Sandvik in a research note on Monday, December 8th. Jefferies Financial Group cut shares of Sandvik from a “strong-buy” rating to a “hold” rating in a report on Sunday, January 25th. Finally, Barclays reissued an “overweight” rating on shares of Sandvik in a research report on Wednesday, February 25th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Sandvik presently has an average rating of “Moderate Buy”.

Sandvik Stock Performance

The stock has a 50-day moving average price of $38.81 and a 200 day moving average price of $32.48. The company has a quick ratio of 1.02, a current ratio of 1.94 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $49.07 billion, a price-to-earnings ratio of 32.33, a P/E/G ratio of 1.73 and a beta of 1.48.

Sandvik (OTCMKTS:SDVKY) last issued its earnings results on Tuesday, January 27th. The industrial products company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.01). Sandvik had a net margin of 12.16% and a return on equity of 16.94%. The firm had revenue of $3.64 billion during the quarter, compared to analyst estimates of $3.38 billion. On average, analysts forecast that Sandvik AB will post 1.27 EPS for the current year.

Hedge Funds Weigh In On Sandvik

An institutional investor recently raised its position in Sandvik stock. Salomon & Ludwin LLC boosted its holdings in Sandvik AB (OTCMKTS:SDVKY) by 3,795.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 857 shares of the industrial products company’s stock after buying an additional 835 shares during the quarter. Salomon & Ludwin LLC’s holdings in Sandvik were worth $25,000 at the end of the most recent quarter. 0.74% of the stock is currently owned by institutional investors.

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.