Sandvik (OTCMKTS:SDVKY) Upgraded at 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.

Other analysts have also issued reports about the stock. Kepler Capital Markets lowered shares of Sandvik from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 15th. Zacks Research cut shares of Sandvik from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 22nd. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Sandvik in a research note on Thursday, June 18th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Sandvik presently has an average rating of “Hold”.

Sandvik Stock Down 1.5%

OTCMKTS:SDVKY opened at $40.81 on Thursday. The firm has a 50-day simple moving average of $38.84 and a two-hundred day simple moving average of $40.12. Sandvik has a fifty-two week low of $24.89 and a fifty-two week high of $44.53. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.84 and a current ratio of 1.64. The firm has a market cap of $51.19 billion, a P/E ratio of 28.14, a P/E/G ratio of 1.19 and a beta of 1.51.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Sandvik stock. GAMMA Investing LLC grew its position in Sandvik AB (OTCMKTS:SDVKY) by 6.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,489 shares of the industrial products company’s stock after acquiring an additional 616 shares during the quarter. GAMMA Investing LLC’s holdings in Sandvik were worth $432,000 at the end of the most recent reporting period. Institutional investors own 0.74% of the company’s stock.

Sandvik Company Profile

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.