Sandvik (SDVKY) Raised to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Sandvik (OTCMKTS:SDVKY) from a sell rating to a hold rating in a research report report published on Wednesday.

According to Zacks, “Sandvik is a high-technology, engineering group with advanced products and a world-leading position within selected areas. Worldwide business activities are conducted through representation in 130 countries. “

Separately, ValuEngine downgraded shares of Sandvik from a buy rating to a hold rating in a report on Wednesday, October 11th.

Shares of Sandvik (SDVKY) opened at $17.00 on Wednesday. The company has a market cap of $21,029.78, a PE ratio of 20.70, a PEG ratio of 2.71 and a beta of 0.78. Sandvik has a 1-year low of $12.01 and a 1-year high of $18.40.

An institutional investor recently raised its position in Sandvik stock. Parametric Portfolio Associates LLC boosted its stake in shares of Sandvik AB (OTCMKTS:SDVKY) by 14.5% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 665,023 shares of the industrial products company’s stock after buying an additional 83,981 shares during the quarter. Parametric Portfolio Associates LLC’s holdings in Sandvik were worth $10,521,000 as of its most recent SEC filing. 0.07% of the stock is owned by hedge funds and other institutional investors.

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Sandvik Company Profile

Sandvik AB (Sandvik) is an engineering company in mining and rock excavation, metal-cutting and materials technology. The Company is engaged in the developing, manufacturing and marketing processed products and services. Its segments include Sandvik Machining Solutions, Sandvik Mining and Rock Technology, Sandvik Materials Technology and Other Operations.

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