Short Interest in Sandvik AB (publ) (OTCMKTS:SDVKY) Declines By 99.4%

Sandvik AB (publ) (OTCMKTS:SDVKY) was the target of a significant decrease in short interest during the month of October. As of October 31st, there was short interest totalling 100 shares, a decrease of 99.4% from the October 15th total of 16,600 shares. Based on an average daily trading volume, of 188,500 shares, the short-interest ratio is currently 0.0 days.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Sandvik AB (publ) stock. Rhumbline Advisers increased its stake in shares of Sandvik AB (publ) (OTCMKTS:SDVKY) by 11.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,045 shares of the industrial products company’s stock after purchasing an additional 2,750 shares during the period. Rhumbline Advisers’ holdings in Sandvik AB (publ) were worth $543,000 as of its most recent SEC filing. 0.74% of the stock is owned by hedge funds and other institutional investors.

Sandvik AB (publ) Price Performance

OTCMKTS SDVKY traded down $0.24 on Thursday, hitting $18.30. 259,781 shares of the company were exchanged, compared to its average volume of 103,806. The company has a current ratio of 1.58, a quick ratio of 0.85 and a debt-to-equity ratio of 0.45. The company has a market cap of $22.96 billion, a P/E ratio of 19.68, a P/E/G ratio of 2.99 and a beta of 1.50. Sandvik AB has a 1-year low of $18.09 and a 1-year high of $23.50. The firm has a 50 day moving average of $20.43 and a two-hundred day moving average of $20.60.

Sandvik AB (publ) (OTCMKTS:SDVKY) last issued its quarterly earnings results on Monday, October 21st. The industrial products company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.02). Sandvik AB (publ) had a net margin of 9.93% and a return on equity of 16.56%. The company had revenue of $2.91 billion during the quarter. On average, equities analysts predict that Sandvik AB will post 1.23 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on SDVKY shares. UBS Group lowered Sandvik AB (publ) from a “neutral” rating to a “sell” rating in a research note on Wednesday, October 23rd. Barclays upgraded shares of Sandvik AB (publ) from a “strong sell” rating to a “strong-buy” rating in a research note on Wednesday, October 9th. Finally, Citigroup upgraded shares of Sandvik AB (publ) to a “strong-buy” rating in a research report on Tuesday, October 15th.

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.