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

Sandvik AB (OTCMKTS:SDVKY) was the target of a large increase in short interest during the month of July. As of July 15th, there was short interest totaling 26,010 shares, an increase of 467.8% from the June 30th total of 4,581 shares. Currently, 0.0% of the company’s shares are short sold. Based on an average daily volume of 385,350 shares, the short-interest ratio is presently 0.1 days.

Institutional Trading of Sandvik

An institutional investor recently raised its stake in Sandvik stock. GAMMA Investing LLC lifted its stake in shares of Sandvik AB (OTCMKTS:SDVKY) by 6.2% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 10,489 shares of the industrial products company’s stock after acquiring an additional 616 shares during the period. 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.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SDVKY. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Sandvik in a research note on Thursday, June 18th. Kepler Capital Markets cut Sandvik from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 15th. Zacks Research downgraded shares of Sandvik from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 22nd. The Goldman Sachs Group restated a “sell” rating on shares of Sandvik in a report on Thursday, April 9th. Finally, Nordea Equity Research raised shares of Sandvik to a “hold” rating in a research note on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Sandvik Trading Up 1.7%

Shares of SDVKY stock traded up $0.60 during mid-day trading on Friday, hitting $35.71. The company’s stock had a trading volume of 96,624 shares, compared to its average volume of 211,368. The company has a market cap of $44.79 billion, a PE ratio of 24.63, a P/E/G ratio of 1.02 and a beta of 1.50. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.06 and a current ratio of 1.96. The company’s fifty day simple moving average is $39.81 and its 200-day simple moving average is $39.87. Sandvik has a 52 week low of $23.96 and a 52 week high of $44.53.

Sandvik (OTCMKTS:SDVKY) last announced its 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 analyst estimates of $3.43 billion. Sandvik had a return on equity of 18.78% and a net margin of 13.05%. As a group, equities research analysts expect that Sandvik will post 1.7 earnings per share for the current fiscal year.

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.