Sandvik (OTCMKTS:SDVKY) Shares Gap Down – Here’s What Happened

Sandvik AB (OTCMKTS:SDVKY)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $40.54, but opened at $38.36. Sandvik shares last traded at $38.50, with a volume of 2,132 shares.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Jefferies Financial Group downgraded Sandvik from a “strong-buy” rating to a “hold” rating in a research report on Sunday, January 25th. Zacks Research lowered Sandvik from a “strong-buy” rating to a “hold” rating in a report on Monday, February 16th. Morgan Stanley cut Sandvik from an “overweight” rating to an “equal weight” rating in a research note on Thursday, March 12th. Barclays reiterated an “overweight” rating on shares of Sandvik in a research report on Wednesday, February 25th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Sandvik in a report on Monday, December 8th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy”.

Sandvik Stock Down 1.2%

The stock has a market cap of $47.69 billion, a PE ratio of 31.42, a P/E/G ratio of 1.64 and a beta of 1.48. The business has a 50 day moving average price of $39.77 and a 200 day moving average price of $33.19. 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 announced its quarterly 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 company had revenue of $3.64 billion for the quarter, compared to analysts’ expectations of $3.38 billion. Equities research analysts expect that Sandvik AB will post 1.27 EPS for the current fiscal year.

Institutional Trading of Sandvik

A hedge fund recently raised its stake in Sandvik stock. GAMMA Investing LLC grew its position in Sandvik AB (OTCMKTS:SDVKY) by 17.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,704 shares of the industrial products company’s stock after acquiring an additional 1,298 shares during the period. GAMMA Investing LLC’s holdings in Sandvik were worth $281,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 0.74% of the company’s stock.

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.