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

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

Institutional Inflows and Outflows

An institutional investor recently raised its position in Sandvik stock. GAMMA Investing LLC grew its stake in Sandvik AB (OTCMKTS:SDVKY) by 17.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm 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 as of its most recent SEC filing. 0.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Sandvik Stock Performance

Shares of OTCMKTS:SDVKY traded up $1.49 on Monday, hitting $38.84. 108,278 shares of the company were exchanged, compared to its average volume of 130,401. The firm has a market capitalization of $48.72 billion, a P/E 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 1-year low of $21.27 and a 1-year high of $44.53. The stock’s 50 day moving average price is $40.29 and its 200 day moving average price is $36.81.

Sandvik (OTCMKTS:SDVKY) last announced its quarterly earnings data on Wednesday, April 22nd. The industrial products company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.04. The firm had revenue of $3.34 billion for the quarter, compared to analyst estimates of $3.43 billion. Sandvik had a net margin of 12.16% and a return on equity of 17.64%. Sell-side analysts predict that Sandvik will post 1.76 EPS for the current 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.