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

Sandvik AB (publ) (OTCMKTS:SDVKY) was the target of a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 44,300 shares, a growth of 199.3% from the February 28th total of 14,800 shares. Based on an average trading volume of 264,600 shares, the short-interest ratio is currently 0.2 days. Currently, 0.0% of the shares of the stock are sold short.

Sandvik AB (publ) Trading Down 2.9 %

OTCMKTS:SDVKY traded down $0.68 during midday trading on Thursday, reaching $22.56. 37,058 shares of the stock traded hands, compared to its average volume of 77,252. The stock has a market capitalization of $28.30 billion, a P/E ratio of 24.26, a PEG ratio of 1.00 and a beta of 1.48. Sandvik AB has a 12 month low of $17.76 and a 12 month high of $23.47. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.94 and a current ratio of 1.79. The company has a fifty day moving average of $21.69 and a 200 day moving average of $20.26.

Sandvik AB (publ) (OTCMKTS:SDVKY) last announced its earnings results on Thursday, January 23rd. The industrial products company reported $0.30 EPS for the quarter, meeting analysts’ consensus estimates of $0.30. Sandvik AB (publ) had a return on equity of 16.07% and a net margin of 9.92%. On average, research analysts predict that Sandvik AB will post 1.27 EPS for the current year.

Institutional Inflows and Outflows

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% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 32,707 shares of the industrial products company’s stock after purchasing 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. 0.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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