Sandvik AB (publ) (OTCMKTS:SDVKY) Sees Significant Decrease in Short Interest

Sandvik AB (publ) (OTCMKTS:SDVKY) was the target of a large drop in short interest during the month of February. As of February 28th, there was short interest totalling 14,800 shares, a drop of 64.2% from the February 13th total of 41,300 shares. Based on an average daily volume of 53,600 shares, the short-interest ratio is presently 0.3 days. Currently, 0.0% of the company’s shares are short sold.

Sandvik AB (publ) Stock Performance

Shares of Sandvik AB (publ) stock opened at $23.27 on Friday. The company has a current ratio of 1.79, a quick ratio of 0.94 and a debt-to-equity ratio of 0.42. The business has a 50-day moving average price of $20.94 and a two-hundred day moving average price of $20.13. Sandvik AB has a 1-year low of $17.76 and a 1-year high of $23.50. The company has a market cap of $29.19 billion, a P/E ratio of 25.02, a PEG ratio of 1.00 and a beta of 1.48.

Sandvik AB (publ) (OTCMKTS:SDVKY) last issued its quarterly earnings results on Thursday, January 23rd. The industrial products company reported $0.30 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.30. Sandvik AB (publ) had a return on equity of 16.07% and a net margin of 9.92%. As a group, analysts anticipate that Sandvik AB will post 1.27 EPS for the current year.

Institutional Trading of Sandvik AB (publ)

An institutional investor recently raised its position in Sandvik AB (publ) stock. Rhumbline Advisers increased its position in Sandvik AB (publ) (OTCMKTS:SDVKY) by 12.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,707 shares of the industrial products company’s stock after buying an additional 3,607 shares during the period. Rhumbline Advisers’ holdings in Sandvik AB (publ) were worth $585,000 at the end of the most recent reporting period. Institutional investors own 0.74% of the company’s stock.

Analyst Ratings Changes

Separately, Sanford C. Bernstein raised Sandvik AB (publ) from an “underperform” rating to a “market perform” rating in a research report on Monday, January 6th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, one has given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy”.

Sandvik AB (publ) Company Profile

Sandvik AB (publ), an engineering company, provides products and solutions for mining and rock excavation, metal cutting, and materials technology worldwide. The company offers mining and rock excavation equipment, including drill rigs and bolters, underground loaders and trucks, mechanical cutting equipment, rock tools and rock drills, and mining automation; rock processing equipment, such as crushers, screens, hydraulic breakers, demolition tools, and breaker booms.