BidaskClub downgraded shares of Sun Hydraulics Corporation (NASDAQ:SNHY) from a buy rating to a hold rating in a research note released on Saturday.
SNHY has been the subject of several other reports. Zacks Investment Research cut Sun Hydraulics Corporation from a hold rating to a sell rating in a research report on Saturday, March 4th. TheStreet raised Sun Hydraulics Corporation from a c rating to a b rating in a research report on Monday, May 8th.
Sun Hydraulics Corporation (NASDAQ:SNHY) traded up 0.14% during midday trading on Friday, reaching $43.25. The company’s stock had a trading volume of 158,630 shares. The firm has a market capitalization of $1.17 billion, a PE ratio of 46.01 and a beta of 1.80. The stock’s 50-day moving average price is $41.98 and its 200 day moving average price is $38.86. Sun Hydraulics Corporation has a 1-year low of $27.69 and a 1-year high of $44.82.
Sun Hydraulics Corporation (NASDAQ:SNHY) last released its quarterly earnings data on Monday, May 8th. The industrial products company reported $0.38 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.02. The business had revenue of $81.40 million during 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 business’s quarterly revenue was up 59.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.31 EPS. Equities analysts anticipate that Sun Hydraulics Corporation will post $1.31 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, July 15th. Stockholders of record on Friday, June 30th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Wednesday, June 28th. This represents a $0.36 annualized dividend and a dividend yield of 0.83%. Sun Hydraulics Corporation’s dividend payout ratio is currently 37.90%.
In related news, Director Christine L. Koski sold 5,000 shares of the company’s stock in a transaction dated Friday, March 31st. The stock was sold at an average price of $36.11, for a total value of $180,550.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Allen J. Carlson sold 9,000 shares of the company’s stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $43.00, for a total value of $387,000.00. Following the completion of the sale, the director now directly owns 35,000 shares of the company’s stock, valued at $1,505,000. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 226,000 shares of company stock valued at $9,341,598. Insiders own 10.70% of the company’s stock.
Several hedge funds have recently made changes to their positions in the stock. Victory Capital Management Inc. boosted its stake in shares of Sun Hydraulics Corporation by 6.3% in the first quarter. Victory Capital Management Inc. now owns 3,452 shares of the industrial products company’s stock worth $125,000 after buying an additional 204 shares during the period. Ancora Advisors LLC purchased a new stake in shares of Sun Hydraulics Corporation during the fourth quarter worth about $150,000. Russell Investments Group Ltd. purchased a new stake in shares of Sun Hydraulics Corporation during the fourth quarter worth about $227,000. Bank of America Corp DE boosted its stake in shares of Sun Hydraulics Corporation by 15.1% in the first quarter. Bank of America Corp DE now owns 7,071 shares of the industrial products company’s stock worth $256,000 after buying an additional 925 shares during the period. Finally, BB&T Securities LLC boosted its stake in shares of Sun Hydraulics Corporation by 0.6% in the first quarter. BB&T Securities LLC now owns 7,613 shares of the industrial products company’s stock worth $274,000 after buying an additional 45 shares during the period. 78.70% of the stock is owned by hedge funds and other institutional investors.
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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