Sandvik AB (OTCMKTS:SDVKY – Get Free Report) gapped down prior to trading on Thursday. The stock had previously closed at $38.08, but opened at $35.7890. Sandvik shares last traded at $35.79, with a volume of 757 shares trading hands.
Analyst Ratings Changes
SDVKY has been the topic of several research reports. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Sandvik in a report on Thursday, June 18th. Citigroup restated a “neutral” rating on shares of Sandvik in a research note on Tuesday. Kepler Capital Markets downgraded Sandvik from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 15th. Zacks Research cut shares of Sandvik from a “strong-buy” rating to a “hold” rating in a report on Monday, June 22nd. Finally, BNP Paribas Exane downgraded shares of Sandvik to a “neutral” rating in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold”.
Read Our Latest Stock Analysis on SDVKY
Sandvik Trading Down 4.6%
Hedge Funds Weigh In On Sandvik
An institutional investor recently raised its stake in Sandvik stock. GAMMA Investing LLC increased its holdings in shares of Sandvik AB (OTCMKTS:SDVKY – Free Report) by 6.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,489 shares of the industrial products company’s stock after buying an additional 616 shares during the quarter. GAMMA Investing LLC’s holdings in Sandvik were worth $432,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 0.74% of the company’s stock.
Sandvik Company Profile
Sandvik AB is a Sweden-based engineering group that develops equipment, tools, services and digital solutions for industries including mining, construction, manufacturing and infrastructure. Founded in 1862, the company has evolved from a steel producer into a global supplier of advanced industrial technologies.
Sandvik’s Mining and Rock Solutions business provides underground and surface mining equipment, rock-drilling tools, ground-support systems, loading and hauling equipment, automation and related aftermarket services.
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