Sandvik (OTCMKTS:SDVKY) Stock Rating Upgraded by Berenberg Bank

Sandvik (OTCMKTS:SDVKY) was upgraded by equities research analysts at Berenberg Bank to a “hold” rating in a research note issued on Thursday,Zacks.com reports.

A number of other brokerages have also recently issued reports on SDVKY. Kepler Capital Markets cut shares of Sandvik from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 15th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Sandvik in a report on Thursday, June 18th. Finally, Zacks Research cut shares of Sandvik from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 22nd. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Sandvik has an average rating of “Hold”.

Sandvik Stock Performance

Shares of SDVKY stock opened at $40.81 on Thursday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.64 and a quick ratio of 0.84. The stock has a market cap of $51.19 billion, a PE ratio of 28.14, a price-to-earnings-growth ratio of 1.19 and a beta of 1.51. The stock has a 50-day moving average of $38.84 and a 200-day moving average of $40.12. Sandvik has a one year low of $24.89 and a one year high of $44.53.

Hedge Funds Weigh In On Sandvik

A hedge fund recently raised its stake in Sandvik stock. GAMMA Investing LLC increased its holdings in shares of Sandvik AB (OTCMKTS:SDVKY) by 6.2% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,489 shares of the industrial products company’s stock after purchasing an additional 616 shares during the quarter. GAMMA Investing LLC’s holdings in Sandvik were worth $432,000 as of its most recent filing with the SEC. 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.