Russell Investments Group Ltd. raised its position in shares of Sun Hydraulics Corporation (NASDAQ:SNHY) by 176.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,660 shares of the industrial products company’s stock after buying an additional 10,001 shares during the period. Russell Investments Group Ltd. owned approximately 0.06% of Sun Hydraulics Corporation worth $565,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Sun Hydraulics Corporation during the fourth quarter worth $16,192,000. State Street Corp increased its stake in shares of 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 worth $16,398,000 after buying an additional 30,367 shares in the last quarter. Granite Investment Partners LLC increased its stake in shares of Sun Hydraulics Corporation by 10.3% in the first quarter. Granite Investment Partners LLC now owns 259,054 shares of the industrial products company’s stock worth $9,355,000 after buying an additional 24,118 shares in the last quarter. Teachers Advisors LLC increased its stake in shares of Sun Hydraulics Corporation by 9.2% in the fourth quarter. Teachers Advisors LLC now owns 40,484 shares of the industrial products company’s stock worth $1,618,000 after buying an additional 3,407 shares in the last quarter. Finally, WCM Investment Management CA increased its stake in shares of Sun Hydraulics Corporation by 9.3% in the first quarter. WCM Investment Management CA now owns 30,245 shares of the industrial products company’s stock worth $1,092,000 after buying an additional 2,565 shares in the last quarter. Institutional investors own 80.38% of the company’s stock.
Sun Hydraulics Corporation (SNHY) traded down 0.81% during midday trading on Friday, hitting $41.49. The stock had a trading volume of 37,619 shares. The stock has a market cap of $1.12 billion, a P/E ratio of 44.14 and a beta of 1.81. The company has a 50-day moving average price of $42.32 and a 200-day moving average price of $39.30. Sun Hydraulics Corporation has a 52 week low of $28.46 and a 52 week high of $44.82.
Sun Hydraulics Corporation (NASDAQ:SNHY) last released its earnings results on Monday, May 8th. The industrial products company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. The firm had revenue of $81.40 million for the quarter, compared to analysts’ expectations of $75.49 million. Sun Hydraulics Corporation had a return on equity of 10.57% and a net margin of 11.14%. The company’s quarterly revenue was up 59.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.31 earnings per share. Equities analysts expect that Sun Hydraulics Corporation will post $1.31 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Saturday, July 15th. Investors of record on Friday, June 30th were paid a $0.09 dividend. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $0.36 annualized dividend and a yield of 0.87%. Sun Hydraulics Corporation’s dividend payout ratio (DPR) is currently 37.90%.
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Several equities analysts have recently weighed in on the stock. BidaskClub cut shares of Sun Hydraulics Corporation from a “buy” rating to a “hold” rating in a research note on Saturday, June 17th. TheStreet raised shares of Sun Hydraulics Corporation from a “c” rating to a “b” rating in a research note on Monday, May 8th. Finally, Zacks Investment Research raised shares of Sun Hydraulics Corporation from a “hold” rating to a “buy” rating and set a $47.00 target price for the company in a research note on Saturday, May 13th.
In other Sun Hydraulics Corporation news, CFO Tricia L. Fulton sold 2,000 shares of the stock in a transaction on Wednesday, May 3rd. The stock was sold at an average price of $39.75, for a total transaction of $79,500.00. Following the sale, the chief financial officer now owns 59,211 shares of the company’s stock, valued at approximately $2,353,637.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Christine L. Koski sold 40,000 shares of the stock in a transaction on Tuesday, May 2nd. The shares were sold at an average price of $39.36, for a total value of $1,574,400.00. The disclosure for this sale can be found here. In the last three months, insiders sold 219,000 shares of company stock worth $9,083,548. 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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