Sandvik AB (OTCMKTS:SDVKY) saw a significant drop in short interest during the month of October. As of October 30th, there was short interest totalling 10,700 shares, a drop of 16.4% from the October 15th total of 12,800 shares. Based on an average daily volume of 119,500 shares, the days-to-cover ratio is presently 0.1 days.
An institutional investor recently raised its position in Sandvik stock. Colony Group LLC increased its stake in Sandvik AB (OTCMKTS:SDVKY) by 24.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,753 shares of the industrial products company's stock after purchasing an additional 3,541 shares during the period. Colony Group LLC's holdings in Sandvik were worth $349,000 as of its most recent filing with the Securities and Exchange Commission. 0.13% of the stock is currently owned by institutional investors.
Shares of Sandvik stock opened at $21.81 on Friday. The stock has a market capitalization of $27.36 billion, a price-to-earnings ratio of 41.15, a PEG ratio of 5.70 and a beta of 1.19. Sandvik has a 52 week low of $11.20 and a 52 week high of $22.08. The firm has a fifty day moving average of $19.86 and a two-hundred day moving average of $18.80.
Sandvik (OTCMKTS:SDVKY) last announced its earnings results on Friday, October 16th. The industrial products company reported $0.24 earnings per share for the quarter, topping the Zacks' consensus estimate of $0.23 by $0.01. The firm had revenue of $2.27 billion during the quarter. Sandvik had a net margin of 6.75% and a return on equity of 20.42%. On average, research analysts forecast that Sandvik will post 0.83 earnings per share for the current fiscal year.
SDVKY has been the topic of a number of recent research reports. ValuEngine raised Sandvik from a "sell" rating to a "hold" rating in a research report on Monday, August 3rd. Berenberg Bank reiterated a "buy" rating on shares of Sandvik in a research note on Friday, September 18th. JPMorgan Chase & Co. reiterated an "overweight" rating on shares of Sandvik in a research note on Monday, October 19th. The Goldman Sachs Group restated a "buy" rating on shares of Sandvik in a research report on Friday, October 2nd. Finally, Morgan Stanley restated an "overweight" rating on shares of Sandvik in a research report on Monday, October 19th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company. The company presently has a consensus rating of "Buy" and a consensus price target of $20.00.
Sandvik Company Profile
Sandvik AB (publ) operates as an engineering company in the areas of mining and rock excavation, metal cutting, and materials technology worldwide. The company offers metal-cutting tools and tooling systems, including boring, drilling, milling, reaming, and turning tools, as well as tailor made tools and inserts, and tooling systems.
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