UBS Group lowered shares of Sandvik AB (publ) (OTCMKTS:SDVKY – Free Report) from a neutral rating to a sell rating in a research note published on Wednesday morning, Marketbeat reports.
A number of other equities research analysts have also recently weighed in on the company. Citigroup raised Sandvik AB (publ) to a “strong-buy” rating in a report on Tuesday, October 15th. Barclays raised Sandvik AB (publ) from a “strong sell” rating to a “strong-buy” rating in a research note on Wednesday, October 9th.
Check Out Our Latest Analysis on Sandvik AB (publ)
Sandvik AB (publ) Stock Performance
Sandvik AB (publ) (OTCMKTS:SDVKY – Get Free Report) last issued its quarterly earnings data on Monday, October 21st. The industrial products company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.02). The firm had revenue of $2.91 billion during the quarter. Sandvik AB (publ) had a net margin of 10.36% and a return on equity of 16.82%. On average, research analysts predict that Sandvik AB will post 1.26 EPS for the current year.
Institutional Inflows and Outflows
A hedge fund recently raised its stake in Sandvik AB (publ) stock. Rhumbline Advisers raised its position in shares of Sandvik AB (publ) (OTCMKTS:SDVKY – Free Report) by 11.3% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 27,045 shares of the industrial products company’s stock after purchasing an additional 2,750 shares during the quarter. Rhumbline Advisers’ holdings in Sandvik AB (publ) were worth $543,000 as of its most recent SEC filing. 0.74% of the stock is currently owned by institutional investors.
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.
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