Sandvik (OTCMKTS:SDVKY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

According to Zacks, “Sandvik is a high-technology, engineering group with advanced products and a world-leading position within selected areas. Worldwide business activities are conducted through representation in 130 countries. “

Separately, ValuEngine lowered shares of Sandvik from a “buy” rating to a “hold” rating in a research report on Wednesday, October 11th.

Shares of Sandvik (SDVKY) opened at $16.86 on Wednesday. The stock has a market cap of $21,211.67, a price-to-earnings ratio of 20.88, a P/E/G ratio of 2.73 and a beta of 0.78. Sandvik has a fifty-two week low of $12.01 and a fifty-two week high of $18.40.

An institutional investor recently raised its position in Sandvik stock. Parametric Portfolio Associates LLC grew its stake in shares of Sandvik AB (OTCMKTS:SDVKY) by 11.6% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 735,941 shares of the industrial products company’s stock after buying an additional 76,252 shares during the period. Parametric Portfolio Associates LLC owned approximately 0.06% of Sandvik worth $12,761,000 as of its most recent filing with the SEC. 0.07% of the stock is owned by institutional investors.

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Sandvik Company Profile

Sandvik AB (Sandvik) is an engineering company in mining and rock excavation, metal-cutting and materials technology. The Company is engaged in the developing, manufacturing and marketing processed products and services. Its segments include Sandvik Machining Solutions, Sandvik Mining and Rock Technology, Sandvik Materials Technology and Other Operations.

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