Swiss National Bank grew its stake in Sun Hydraulics Corporation (NASDAQ:SNHY) by 8.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 40,400 shares of the industrial products company’s stock after purchasing an additional 3,300 shares during the quarter. Swiss National Bank owned about 0.15% of Sun Hydraulics Corporation worth $1,724,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Victory Capital Management Inc. increased its position in shares of Sun Hydraulics Corporation by 6.3% in the 1st quarter. Victory Capital Management Inc. now owns 3,452 shares of the industrial products company’s stock valued at $125,000 after buying an additional 204 shares in the last quarter. BNP Paribas Arbitrage SA increased its holdings in Sun Hydraulics Corporation by 542.0% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 3,486 shares of the industrial products company’s stock worth $149,000 after purchasing an additional 2,943 shares in the last quarter. Commerce Bank bought a new position in Sun Hydraulics Corporation during the 2nd quarter worth about $231,000. Affinity Investment Advisors LLC bought a new position in Sun Hydraulics Corporation during the 2nd quarter worth about $247,000. Finally, Legal & General Group Plc increased its holdings in Sun Hydraulics Corporation by 2.9% during the 2nd quarter. Legal & General Group Plc now owns 5,764 shares of the industrial products company’s stock worth $247,000 after purchasing an additional 160 shares in the last quarter. 79.94% of the stock is currently owned by institutional investors.
Shares of Sun Hydraulics Corporation (NASDAQ SNHY) opened at 54.95 on Tuesday. The company has a market capitalization of $1.49 billion, a P/E ratio of 57.84 and a beta of 1.76. Sun Hydraulics Corporation has a 1-year low of $28.88 and a 1-year high of $57.73. The firm has a 50-day moving average of $52.40 and a 200 day moving average of $44.14.
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 consensus estimate of $0.39 by $0.13. Sun Hydraulics Corporation had a net margin of 9.63% and a return on equity of 13.25%. The firm had revenue of $89.30 million for the quarter, compared to the consensus estimate of $79.18 million. During the same quarter in the previous year, the firm earned $0.26 earnings per share. The company’s quarterly revenue was up 75.8% compared to the same quarter last year. On average, equities research analysts expect that Sun Hydraulics Corporation will post $1.56 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 20th. Stockholders of record on Thursday, October 5th will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.66%. The ex-dividend date is Wednesday, October 4th. Sun Hydraulics Corporation’s dividend payout ratio (DPR) is presently 37.50%.
A number of equities analysts have recently commented on SNHY shares. Zacks Investment Research downgraded shares of Sun Hydraulics Corporation from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 12th. BidaskClub downgraded shares of Sun Hydraulics Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Sidoti began coverage on shares of Sun Hydraulics Corporation in a research note on Thursday, September 14th. They issued a “neutral” rating for the company. Finally, Robert W. Baird downgraded shares of Sun Hydraulics Corporation from an “outperform” rating to a “neutral” rating and raised their target price for the company from $55.00 to $57.00 in a research note on Friday. One research analyst has rated the stock with a sell rating and three have given a hold rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $55.50.
In related news, Director Christine L. Koski sold 20,000 shares of the business’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $47.33, for a total value of $946,600.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Christine L. Koski sold 15,000 shares of the business’s stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $49.87, for a total transaction of $748,050.00. The disclosure for this sale can be found here. Insiders sold 85,440 shares of company stock worth $4,070,619 in the last three months. Insiders own 10.70% of the company’s stock.
Sun Hydraulics Corporation Company Profile
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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