Short Interest in Sandvik AB (OTCMKTS:SDVKY) Declines By 36.2%

Sandvik AB (OTCMKTS:SDVKY) was the target of a significant drop in short interest in the month of April. As of April 30th, there was short interest totaling 8,514 shares, a drop of 36.2% from the April 15th total of 13,348 shares. Currently, 0.0% of the company’s stock are sold short. Based on an average daily trading volume, of 237,036 shares, the days-to-cover ratio is currently 0.0 days.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Nordea Equity Research upgraded Sandvik to a “hold” rating in a report on Wednesday, April 15th. Morgan Stanley downgraded Sandvik from an “overweight” rating to an “equal weight” rating in a research note on Thursday, March 12th. The Goldman Sachs Group reaffirmed a “sell” rating on shares of Sandvik in a research report on Thursday, April 9th. Barclays reaffirmed an “overweight” rating on shares of Sandvik in a research report on Wednesday, February 25th. Finally, Jefferies Financial Group cut Sandvik from a “strong-buy” rating to a “hold” rating in a report on Sunday, January 25th. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Sandvik currently has an average rating of “Moderate Buy”.

Sandvik Trading Up 4.0%

Shares of OTCMKTS SDVKY traded up $1.49 during trading hours on Monday, hitting $38.84. 108,278 shares of the company traded hands, compared to its average volume of 130,401. The company’s 50 day moving average price is $40.29 and its 200 day moving average price is $36.81. The stock has a market capitalization of $48.72 billion, a price-to-earnings ratio of 30.58, a price-to-earnings-growth ratio of 1.28 and a beta of 1.53. The company has a current ratio of 1.94, a quick ratio of 1.02 and a debt-to-equity ratio of 0.34. Sandvik has a 12 month low of $21.27 and a 12 month high of $44.53.

Sandvik (OTCMKTS:SDVKY) last issued its quarterly earnings results on Wednesday, April 22nd. The industrial products company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.32 by $0.04. The company had revenue of $3.34 billion for the quarter, compared to the consensus estimate of $3.43 billion. Sandvik had a net margin of 12.16% and a return on equity of 17.64%. On average, equities research analysts anticipate that Sandvik will post 1.76 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sandvik

A hedge fund recently raised its stake in Sandvik stock. GAMMA Investing LLC lifted its position in shares of Sandvik AB (OTCMKTS:SDVKY) by 17.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,704 shares of the industrial products company’s stock after buying an additional 1,298 shares during the quarter. GAMMA Investing LLC’s holdings in Sandvik were worth $281,000 at the end of the most recent quarter. 0.74% of the stock is 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.