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 March. As of March 31st, there was short interest totalling 2,000 shares, a drop of 95.5% from the March 15th total of 44,300 shares. Approximately 0.0% of the company’s shares are short sold. Based on an average daily volume of 60,900 shares, the short-interest ratio is currently 0.0 days.

Sandvik AB (publ) Trading Down 0.3 %

Shares of SDVKY stock traded down $0.06 during trading hours on Monday, reaching $19.14. 127,708 shares of the stock were exchanged, compared to its average volume of 91,578. The firm has a market capitalization of $24.01 billion, a price-to-earnings ratio of 20.58, a price-to-earnings-growth ratio of 1.00 and a beta of 1.48. Sandvik AB has a 12-month low of $16.94 and a 12-month high of $23.47. The company’s 50-day moving average price is $21.52 and its 200-day moving average price is $20.16. The company has a current ratio of 1.79, a quick ratio of 0.94 and a debt-to-equity ratio of 0.42.

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

Hedge Funds Weigh In On Sandvik AB (publ)

A hedge fund recently raised its stake in Sandvik AB (publ) stock. Rhumbline Advisers grew its stake in shares of Sandvik AB (publ) (OTCMKTS:SDVKY) by 12.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 32,707 shares of the industrial products company’s stock after purchasing an additional 3,607 shares during the quarter. Rhumbline Advisers’ holdings in Sandvik AB (publ) were worth $585,000 at the end of the most recent quarter. 0.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Sanford C. Bernstein upgraded Sandvik AB (publ) from an “underperform” rating to a “market perform” rating in a report on Monday, January 6th. One analyst has rated the stock with a sell rating, one has issued a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company 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.