Sandvik AB (OTCMKTS:SDVKY) Sees Large Increase in Short Interest

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

Wall Street Analysts Forecast Growth

SDVKY has been the topic of a number of research reports. Zacks Research upgraded Sandvik from a “hold” rating to a “strong-buy” rating in a report on Monday, December 22nd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Sandvik in a research report on Monday, December 8th. Barclays restated an “overweight” rating on shares of Sandvik in a report on Wednesday, December 3rd. Pareto Securities lowered Sandvik from a “buy” rating to a “hold” rating in a research report on Sunday, October 5th. Finally, Citigroup reaffirmed a “buy” rating on shares of Sandvik in a research report on Tuesday, October 7th. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Sandvik has an average rating of “Buy”.

Sandvik Stock Down 0.3%

Shares of Sandvik stock opened at $32.57 on Wednesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.78 and a quick ratio of 0.90. Sandvik has a 1-year low of $16.94 and a 1-year high of $33.25. The business has a 50-day moving average of $30.79 and a 200-day moving average of $27.39. The company has a market capitalization of $40.86 billion, a PE ratio of 27.84, a P/E/G ratio of 1.58 and a beta of 1.52.

Sandvik (OTCMKTS:SDVKY) last issued its quarterly earnings results on Monday, October 20th. The industrial products company reported $0.30 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $29.69 billion. As a group, equities analysts forecast that Sandvik will post 1.27 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Salomon & Ludwin LLC raised its stake in shares of Sandvik by 3,795.5% in 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 in the last quarter. GAMMA Investing LLC raised its stake in Sandvik by 24.8% during the third quarter. GAMMA Investing LLC now owns 7,406 shares of the industrial products company’s stock valued at $208,000 after buying an additional 1,473 shares in the last quarter. Yousif Capital Management LLC lifted its holdings in Sandvik by 15.9% during the 2nd quarter. Yousif Capital Management LLC now owns 22,037 shares of the industrial products company’s stock worth $502,000 after buying an additional 3,030 shares during the last quarter. Finally, Rhumbline Advisers grew its position 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 in the last quarter. 0.74% of the stock is currently owned by institutional investors.

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.