Sandvik AB (publ) (OTCMKTS:SDVKY) Announces Quarterly Earnings Results, Hits Estimates

consensus estimates of $0.29. The company reported quarterly sales of $2.31 billion, compared to analysts' expectations of $2.29 billion. Sandvik AB had a return on equity of 28.48% and a net margin of 10.98%. The company's revenue for the quarter was up 3.6% on a year-over-year basis. During the

() released its quarterly earnings on Friday. Sandvik AB had a net profit margin of 9.96%, and a return of equity of 17.71%. Revenue for the quarter was $2.96 billion.

Sandvik AB (publ) Stock Performance

Trading on Friday saw a decline of $0.81, bringing the price to $20.89. The trading volume was 27,589 shares compared to the average volume of 33984. Sandvik AB's 12 month low is $12.81, and its 12 month high is $25.68. The 50-day moving mean of the business is $20.55, and its 200-day moving means are $19.00. Separately Credit Suisse Group downgraded shares of Sandvik AB(publ) to a neutral' in a report published on Friday, 14th April. Four analysts have given the company a buy recommendation, while three others have assigned a hold rating. MarketBeat data shows that the company's consensus rating is 'Hold' with an average price target of $193.00.

Inflows of Institutional Capital and Outflows

Recently, a hedge fund increased its holdings in Sandvik AB. According to the most recent SEC disclosure, ) increased by 15.6% during the second quarter. The institutional investor now owns 8,385 of the industrial product company's shares after adding 1,131 more during the period. Captrust Financial Advisors held Sandvik AB(publ) for $136,000 according to its latest SEC filing.

Sandvik AB (publ).

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Sandvik AB is engaged in the design, manufacturing, and sales of tools, equipment and tooling systems to the mining and construction industry. The company operates in four segments: Sandvik Manufacturing and Machining Solutions; Sandvik Mining and Rock Technology; Sandvik Materials Technology and Sandvik Rock Processing Solutions. offers a FREE daily email newsletter