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

Sandvik AB (publ) (OTCMKTS:SDVKY - Get Free Report) was the target of a large decline in short interest in the month of September. As of September 30th, there was short interest totalling 3,600 shares, a decline of 34.5% from the September 15th total of 5,500 shares. Based on an average trading volume of 60,700 shares, the short-interest ratio is presently 0.1 days.

Wall Street Analysts Forecast Growth

Separately, Barclays raised shares of Sandvik AB (publ) from a "strong sell" rating to a "strong-buy" rating in a report on Wednesday.

Sandvik AB (publ) Price Performance

SDVKY stock traded up $0.25 during mid-day trading on Friday, hitting $21.21. 18,289 shares of the stock were exchanged, compared to its average volume of 105,867. The stock has a market capitalization of $26.61 billion, a price-to-earnings ratio of 21.87, a PEG ratio of 3.07 and a beta of 1.49. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.58 and a quick ratio of 0.85. Sandvik AB has a 12 month low of $16.31 and a 12 month high of $23.50. The business has a fifty day moving average price of $20.65 and a 200 day moving average price of $20.96.

Sandvik AB (publ) (OTCMKTS:SDVKY - Get Free Report) last announced its quarterly earnings data on Friday, July 19th. The industrial products company reported $0.29 earnings per share for the quarter, missing analysts' consensus estimates of $0.31 by ($0.02). The business had revenue of $2.94 billion during the quarter. Sandvik AB (publ) had a return on equity of 16.82% and a net margin of 10.36%. On average, sell-side analysts anticipate that Sandvik AB will post 1.26 EPS for the current year.

Hedge Funds Weigh In On Sandvik AB (publ)

An institutional investor recently raised its position in Sandvik AB (publ) stock. Rhumbline Advisers grew its holdings in Sandvik AB (publ) (OTCMKTS:SDVKY - Free Report) by 11.3% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 27,045 shares of the industrial products company's stock after buying an additional 2,750 shares during the quarter. Rhumbline Advisers' holdings in Sandvik AB (publ) were worth $543,000 at the end of the most recent quarter. Institutional investors own 0.74% of the company's stock.

About Sandvik AB (publ)

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.

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