Baldwin Brothers Inc. MA held its position in Sun Hydraulics Corporation (NASDAQ:SNHY) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,132 shares of the industrial products company’s stock at the end of the second quarter. Baldwin Brothers Inc. MA’s holdings in Sun Hydraulics Corporation were worth $432,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp raised its position in Sun Hydraulics Corporation by 8.0% in the fourth quarter. State Street Corp now owns 410,237 shares of the industrial products company’s stock valued at $16,398,000 after buying an additional 30,367 shares during the last quarter. Norges Bank purchased a new position in Sun Hydraulics Corporation during the fourth quarter valued at $16,192,000. Russell Investments Group Ltd. raised its position in Sun Hydraulics Corporation by 176.7% in the first quarter. Russell Investments Group Ltd. now owns 15,660 shares of the industrial products company’s stock valued at $565,000 after buying an additional 10,001 shares during the last quarter. Citadel Advisors LLC raised its position in Sun Hydraulics Corporation by 37.7% in the first quarter. Citadel Advisors LLC now owns 51,857 shares of the industrial products company’s stock valued at $1,872,000 after buying an additional 14,210 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its position in Sun Hydraulics Corporation by 14.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 10,483 shares of the industrial products company’s stock valued at $419,000 after buying an additional 1,288 shares during the last quarter. 80.46% of the stock is currently owned by institutional investors and hedge funds.
Shares of Sun Hydraulics Corporation (NASDAQ:SNHY) traded up 9.58% during trading on Tuesday, reaching $47.48. 515,785 shares of the company were exchanged. The firm’s 50 day moving average price is $41.99 and its 200 day moving average price is $39.41. Sun Hydraulics Corporation has a one year low of $28.46 and a one year high of $48.44. The company has a market capitalization of $1.28 billion, a PE ratio of 50.51 and a beta of 1.81.
Sun Hydraulics Corporation (NASDAQ:SNHY) last released its earnings results on Monday, August 7th. The industrial products company reported $0.52 EPS for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.13. Sun Hydraulics Corporation had a return on equity of 10.57% and a net margin of 11.14%. The company had revenue of $89.30 million for the quarter, compared to analysts’ expectations of $79.18 million. During the same period in the previous year, the business posted $0.26 EPS. The business’s revenue for the quarter was up 75.8% compared to the same quarter last year. Equities research analysts forecast that Sun Hydraulics Corporation will post $1.31 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Saturday, July 15th. Shareholders of record on Friday, June 30th were issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date was Wednesday, June 28th. Sun Hydraulics Corporation’s payout ratio is presently 37.90%.
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Several research analysts recently weighed in on SNHY shares. Zacks Investment Research raised shares of Sun Hydraulics Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, May 3rd. BidaskClub lowered shares of Sun Hydraulics Corporation from a “buy” rating to a “hold” rating in a research report on Saturday, June 17th. Finally, TheStreet upgraded shares of Sun Hydraulics Corporation from a “c” rating to a “b” rating in a report on Monday, May 8th.
In other Sun Hydraulics Corporation news, Director Christine L. Koski sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $42.20, for a total value of $844,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Christine L. Koski sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, May 12th. The shares were sold at an average price of $42.13, for a total value of $1,263,900.00. The disclosure for this sale can be found here. Insiders have sold 94,000 shares of company stock valued at $4,007,098 in the last three months. 10.70% of the stock is owned by insiders.
About Sun Hydraulics Corporation
Sun Hydraulics Corporation (Sun) develops and manufactures solutions for the hydraulics and electronics markets. It is engaged in power controls and vehicle technologies lines of business. The Company operates through two segments including hydraulics and electronics. Hydraulics market segment is engaged in manufacturing of screw-in hydraulic cartridge valves, electro-hydraulics, manifolds, and integrated package solutions for the worldwide industrial and mobile hydraulics markets operating under the brand Sun Hydraulics.
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