Sandvik AB (OTCMKTS:SDVKY) Short Interest Update

Key Points

• Short interest plunged 72.6% to 13,348 shares as of April 15, leaving 0.0% of shares sold short and a days‑to‑cover of just 0.1 days.
• Sandvik beat Q1 EPS estimates ($0.36 vs. $0.32) but missed revenue ($3.34B vs. $3.43B); analysts forecast full‑year EPS of 1.6 and the consensus rating is Hold.
• Shares trade around $42.85 with a market capitalization of $53.75B and a P/E of 33.74, trading near a 12‑month high of $44.53.

Sandvik AB (OTCMKTS:SDVKY - Get Free Report) saw a large decrease in short interest during the month of April. As of April 15th, there was short interest totaling 13,348 shares, a decrease of 72.6% from the March 31st total of 48,693 shares. Currently, 0.0% of the company's shares are sold short. Based on an average trading volume of 158,239 shares, the days-to-cover ratio is currently 0.1 days.

Sandvik Stock Up 0.7%

SDVKY stock opened at $42.85 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.94 and a quick ratio of 1.02. The firm's fifty day simple moving average is $40.81 and its 200-day simple moving average is $35.66. Sandvik has a 12 month low of $20.40 and a 12 month high of $44.53. The company has a market capitalization of $53.75 billion, a P/E ratio of 33.74, a price-to-earnings-growth ratio of 1.58 and a beta of 1.52.

Sandvik (OTCMKTS:SDVKY - Get Free Report) last released its quarterly earnings data on Wednesday, April 22nd. The industrial products company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.32 by $0.04. The business had revenue of $3.34 billion for the quarter, compared to analyst estimates of $3.43 billion. Sandvik had a return on equity of 17.64% and a net margin of 12.16%. As a group, equities research analysts forecast that Sandvik will post 1.6 earnings per share for the current year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Sandvik stock. Salomon & Ludwin LLC grew its holdings in Sandvik AB (OTCMKTS:SDVKY - Free Report) by 3,795.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund 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 filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 0.74% of the company's stock.

Analysts Set New Price Targets

SDVKY has been the topic of a number of research analyst reports. Barclays restated an "overweight" rating on shares of Sandvik in a report on Wednesday, February 25th. Citigroup cut Sandvik from a "strong-buy" rating to a "hold" rating in a report on Monday, April 13th. The Goldman Sachs Group restated a "sell" rating on shares of Sandvik in a report on Thursday, April 9th. Jefferies Financial Group downgraded shares of Sandvik from a "strong-buy" rating to a "hold" rating in a research report on Sunday, January 25th. Finally, Morgan Stanley lowered Sandvik from an "overweight" rating to an "equal weight" rating in a research report on Thursday, March 12th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold".

About Sandvik

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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