Barrow Hanley Mewhinney & Strauss LLC cut its stake in Sun Hydraulics Corporation (NASDAQ:SNHY) by 2.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 129,605 shares of the industrial products company’s stock after selling 2,589 shares during the period. Barrow Hanley Mewhinney & Strauss LLC owned 0.48% of Sun Hydraulics worth $6,999,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of SNHY. Wasatch Advisors Inc. acquired a new stake in Sun Hydraulics in the third quarter valued at $40,790,000. Janus Henderson Group PLC acquired a new stake in Sun Hydraulics in the second quarter valued at $22,193,000. Conestoga Capital Advisors LLC raised its holdings in Sun Hydraulics by 19.7% in the third quarter. Conestoga Capital Advisors LLC now owns 1,038,477 shares of the industrial products company’s stock valued at $56,078,000 after acquiring an additional 171,018 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in Sun Hydraulics by 186.7% in the second quarter. Ameriprise Financial Inc. now owns 258,333 shares of the industrial products company’s stock valued at $11,023,000 after acquiring an additional 168,220 shares in the last quarter. Finally, RK Capital Management LLC acquired a new stake in Sun Hydraulics in the second quarter valued at $7,173,000. 79.46% of the stock is currently owned by hedge funds and other institutional investors.
SNHY has been the topic of several recent analyst reports. Zacks Investment Research cut shares of Sun Hydraulics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 11th. Sidoti began coverage on shares of Sun Hydraulics in a report on Thursday, September 14th. They set a “neutral” rating on the stock. Robert W. Baird cut shares of Sun Hydraulics from an “outperform” rating to a “neutral” rating and increased their target price for the stock from $55.00 to $57.00 in a report on Friday, October 13th. Finally, BidaskClub cut shares of Sun Hydraulics from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 6th. Three analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company’s stock. Sun Hydraulics has a consensus rating of “Buy” and a consensus target price of $60.00.
Shares of Sun Hydraulics Corporation (NASDAQ:SNHY) opened at $58.69 on Friday. The firm has a market cap of $1,530.73, a price-to-earnings ratio of 38.99 and a beta of 1.79. Sun Hydraulics Corporation has a twelve month low of $34.17 and a twelve month high of $63.63. The company has a current ratio of 2.62, a quick ratio of 1.96 and a debt-to-equity ratio of 0.43.
Sun Hydraulics (NASDAQ:SNHY) last issued its earnings results on Monday, November 6th. The industrial products company reported $0.43 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.07. The company had revenue of $88.00 million for the quarter, compared to analysts’ expectations of $80.66 million. Sun Hydraulics had a net margin of 10.34% and a return on equity of 15.54%. The firm’s revenue was up 94.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.19 earnings per share. sell-side analysts anticipate that Sun Hydraulics Corporation will post 1.65 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Saturday, January 20th. Shareholders of record on Friday, January 5th will be issued a dividend of $0.09 per share. The ex-dividend date of this dividend is Thursday, January 4th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.61%. Sun Hydraulics’s dividend payout ratio (DPR) is 30.25%.
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About Sun Hydraulics
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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