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

Sandvik AB (publ) (OTCMKTS:SDVKY) saw a large decline in short interest during the month of August. As of August 31st, there was short interest totalling 20,500 shares, a decline of 27.3% from the August 15th total of 28,200 shares. Based on an average daily volume of 48,800 shares, the short-interest ratio is presently 0.4 days.

Institutional Trading of Sandvik AB (publ)

An institutional investor recently raised its position in Sandvik AB (publ) stock. Rhumbline Advisers lifted its stake in shares of Sandvik AB (publ) (OTCMKTS:SDVKY) by 11.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,045 shares of the industrial products company’s stock after acquiring an additional 2,750 shares during the quarter. Rhumbline Advisers’ holdings in Sandvik AB (publ) were worth $543,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 0.74% of the company’s stock.

Sandvik AB (publ) Price Performance

Shares of OTCMKTS:SDVKY opened at $20.10 on Friday. Sandvik AB has a twelve month low of $16.31 and a twelve month high of $23.50. The company has a quick ratio of 0.83, a current ratio of 1.62 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $25.21 billion, a PE ratio of 20.94, a P/E/G ratio of 2.28 and a beta of 1.49. The company has a 50-day moving average price of $20.15 and a two-hundred day moving average price of $21.17.

Sandvik AB (publ) (OTCMKTS:SDVKY) last issued its earnings results on Friday, July 19th. The industrial products company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.02). The company had revenue of $2.94 billion for the quarter. Sandvik AB (publ) had a return on equity of 16.72% and a net margin of 10.36%. Equities analysts forecast that Sandvik AB will post 1.25 EPS for the current year.

Analysts Set New Price Targets

Separately, DNB Markets raised Sandvik AB (publ) from a “hold” rating to a “buy” rating in a research note on Thursday, June 13th.

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.