Sandvik AB (OTCMKTS:SDVKY) Short Interest Down 43.3% in March

Key Points

• Short interest fell 43.3% in March to 48,693 shares as of March 31, leaving a short-interest ratio of just 0.3 days and approximately 0.0% of shares short sold.
• Analysts are mixed but mildly positive overall — one Strong Buy, four Buy, four Hold and one Sell — giving an average rating of "Moderate Buy", with recent downgrades from Morgan Stanley, Jefferies and Zacks while Citigroup reiterated a Buy and Goldman Sachs maintained a Sell.
• In the latest quarter Sandvik reported EPS of $0.36 (miss vs. $0.37 est.) but revenue of $3.64 billion (beat $3.38B), and the stock carries a market cap of $54.4 billion and a PE of 35.84.

Sandvik AB (OTCMKTS:SDVKY - Get Free Report) was the target of a significant decrease in short interest during the month of March. As of March 31st, there was short interest totaling 48,693 shares, a decrease of 43.3% from the March 15th total of 85,835 shares. Based on an average daily volume of 164,236 shares, the short-interest ratio is currently 0.3 days. Approximately 0.0% of the shares of the company are short sold.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Citigroup restated a "buy" rating on shares of Sandvik in a research note on Monday, January 12th. Morgan Stanley lowered shares of Sandvik from an "overweight" rating to an "equal weight" rating in a research report on Thursday, March 12th. Jefferies Financial Group downgraded shares of Sandvik from a "strong-buy" rating to a "hold" rating in a report on Sunday, January 25th. The Goldman Sachs Group reiterated a "sell" rating on shares of Sandvik in a research note on Thursday. Finally, Zacks Research lowered shares of Sandvik from a "strong-buy" rating to a "hold" rating in a report on Monday, February 16th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy".

Sandvik Stock Performance

Shares of Sandvik stock opened at $43.37 on Monday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.94 and a quick ratio of 1.02. Sandvik has a 1 year low of $18.39 and a 1 year high of $44.43. The firm has a market cap of $54.40 billion, a PE ratio of 35.84, a PEG ratio of 1.69 and a beta of 1.52. The company has a 50 day simple moving average of $40.56 and a two-hundred day simple moving average of $34.71.

Sandvik (OTCMKTS:SDVKY - Get Free Report) last issued its quarterly earnings results on Tuesday, January 27th. The industrial products company reported $0.36 EPS for the quarter, missing analysts' consensus estimates of $0.37 by ($0.01). Sandvik had a return on equity of 16.94% and a net margin of 12.16%.The company had revenue of $3.64 billion during the quarter, compared to the consensus estimate of $3.38 billion. Analysts expect that Sandvik will post 1.27 earnings per share for the current fiscal year.

Institutional Trading of Sandvik

An institutional investor recently raised its position in Sandvik stock. Salomon & Ludwin LLC lifted its stake in Sandvik AB (OTCMKTS:SDVKY - Free Report) by 3,795.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 857 shares of the industrial products company's stock after buying an additional 835 shares during the period. Salomon & Ludwin LLC's holdings in Sandvik were worth $25,000 as of its most recent SEC filing. 0.74% of the stock is owned by hedge funds and other institutional investors.

Sandvik Company Profile

Sandvik OTCMKTS: SDVKY is a global engineering group headquartered in Sandviken, Sweden, with roots dating back to 1862 when it was founded by Göran Fredrik Göransson. The company designs, manufactures and services advanced products and solutions for the mining and construction industries, metalworking and material technology markets. Sandvik serves customers worldwide with a broad portfolio of industrial products, equipment and aftermarket services.

Sandvik's core activities span three broad areas: metal-cutting and machining solutions, mining and rock excavation equipment, and specialty materials and components.

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