Sandvik AB (OTCMKTS:SDVKY) Short Interest Update

Sandvik AB (OTCMKTS:SDVKY) was the recipient of a significant increase in short interest in the month of December. As of December 15th, there was short interest totaling 40,342 shares, an increase of 26.3% from the November 30th total of 31,953 shares. Currently, 0.0% of the shares of the company are sold short. Based on an average daily volume of 65,997 shares, the days-to-cover ratio is currently 0.6 days. Based on an average daily volume of 65,997 shares, the days-to-cover ratio is currently 0.6 days. Currently, 0.0% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on SDVKY. Zacks Research upgraded shares of Sandvik from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 22nd. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Sandvik in a research note on Monday, December 8th. Pareto Securities cut Sandvik from a “buy” rating to a “hold” rating in a research report on Sunday, October 5th. Barclays reissued an “overweight” rating on shares of Sandvik in a report on Wednesday, December 3rd. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of Sandvik in a research note on Wednesday, October 22nd. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Sandvik presently has an average rating of “Buy”.

Sandvik Stock Performance

Shares of OTCMKTS SDVKY opened at $32.57 on Wednesday. Sandvik has a 12-month low of $16.94 and a 12-month high of $33.25. The company has a market cap of $40.86 billion, a PE ratio of 27.84, a P/E/G ratio of 1.58 and a beta of 1.52. The stock has a 50 day simple moving average of $30.79 and a 200-day simple moving average of $27.39. The company has a current ratio of 1.78, a quick ratio of 0.90 and a debt-to-equity ratio of 0.40.

Sandvik (OTCMKTS:SDVKY) last announced its earnings results on Monday, October 20th. The industrial products company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.02). Sandvik had a net margin of 12.24% and a return on equity of 16.30%. The business had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $29.69 billion. On average, equities research analysts forecast that Sandvik will post 1.27 EPS for the current year.

Institutional Trading of Sandvik

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Rhumbline Advisers lifted its stake in shares of Sandvik by 13.9% in the 1st quarter. Rhumbline Advisers now owns 37,269 shares of the industrial products company’s stock worth $788,000 after acquiring an additional 4,562 shares during the period. Yousif Capital Management LLC raised its holdings in Sandvik by 15.9% during the second quarter. Yousif Capital Management LLC now owns 22,037 shares of the industrial products company’s stock worth $502,000 after purchasing an additional 3,030 shares in the last quarter. GAMMA Investing LLC lifted its position in Sandvik by 24.8% in the third quarter. GAMMA Investing LLC now owns 7,406 shares of the industrial products company’s stock worth $208,000 after purchasing an additional 1,473 shares during the period. Finally, Salomon & Ludwin LLC increased its position in shares of Sandvik by 3,795.5% during the 3rd quarter. Salomon & Ludwin LLC now owns 857 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 835 shares during the period. 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.