Sandvik (OTCMKTS:SDVKY) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday, December 27th.
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 Sandvik from a “buy” rating to a “hold” rating in a report on Wednesday, October 11th.
Sandvik (SDVKY) opened at $19.17 on Wednesday. Sandvik has a fifty-two week low of $12.85 and a fifty-two week high of $19.20. The company has a current ratio of 2.09, a quick ratio of 1.23 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $23,902.33, a price-to-earnings ratio of 23.52, a PEG ratio of 2.69 and a beta of 0.78.
A hedge fund recently raised its stake in Sandvik stock. Parametric Portfolio Associates LLC boosted its stake in Sandvik AB (OTCMKTS:SDVKY) by 14.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 665,023 shares of the industrial products company’s stock after buying an additional 83,981 shares during the period. Parametric Portfolio Associates LLC’s holdings in Sandvik were worth $10,521,000 at the end of the most recent quarter. 0.07% of the stock is currently owned by institutional investors and hedge funds.
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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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