Sun Hydraulics Co. (NASDAQ:SNHY) Director Christine L. Koski sold 25,000 shares of Sun Hydraulics stock in a transaction that occurred on Thursday, May 17th. The stock was sold at an average price of $49.20, for a total value of $1,230,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Shares of Sun Hydraulics opened at $50.00 on Friday, according to Marketbeat.com. The company has a market capitalization of $1.56 billion, a PE ratio of 31.25 and a beta of 1.68. Sun Hydraulics Co. has a 52 week low of $40.47 and a 52 week high of $70.83.
Sun Hydraulics (NASDAQ:SNHY) last issued its earnings results on Tuesday, May 8th. The industrial products company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.02). The firm had revenue of $97.30 million during the quarter, compared to analyst estimates of $94.81 million. Sun Hydraulics had a return on equity of 14.12% and a net margin of 9.27%. Sun Hydraulics’s revenue was up 19.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.43 EPS. research analysts expect that Sun Hydraulics Co. will post 1.99 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, April 20th. Stockholders of record on Thursday, April 5th were given a $0.09 dividend. The ex-dividend date was Wednesday, April 4th. This represents a $0.36 annualized dividend and a dividend yield of 0.72%. Sun Hydraulics’s payout ratio is 22.50%.
Several institutional investors and hedge funds have recently modified their holdings of the company. Wasatch Advisors Inc. grew its position in shares of Sun Hydraulics by 40.5% in the 1st quarter. Wasatch Advisors Inc. now owns 2,065,693 shares of the industrial products company’s stock worth $110,639,000 after acquiring an additional 595,852 shares in the last quarter. BlackRock Inc. boosted its position in Sun Hydraulics by 10.6% during the 1st quarter. BlackRock Inc. now owns 1,690,516 shares of the industrial products company’s stock valued at $90,542,000 after purchasing an additional 162,131 shares during the period. Conestoga Capital Advisors LLC boosted its position in Sun Hydraulics by 17.8% during the 4th quarter. Conestoga Capital Advisors LLC now owns 1,222,892 shares of the industrial products company’s stock valued at $79,109,000 after purchasing an additional 184,415 shares during the period. Dimensional Fund Advisors LP boosted its position in Sun Hydraulics by 0.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 893,905 shares of the industrial products company’s stock valued at $47,877,000 after purchasing an additional 4,412 shares during the period. Finally, GW&K Investment Management LLC boosted its position in Sun Hydraulics by 16.3% during the 1st quarter. GW&K Investment Management LLC now owns 698,513 shares of the industrial products company’s stock valued at $37,412,000 after purchasing an additional 97,754 shares during the period. Institutional investors own 72.19% of the company’s stock.
Several equities research analysts have issued reports on SNHY shares. Zacks Investment Research upgraded Sun Hydraulics from a “hold” rating to a “buy” rating and set a $60.00 price objective on the stock in a report on Saturday, April 14th. SunTrust Banks started coverage on Sun Hydraulics in a report on Monday, February 5th. They set a “buy” rating on the stock. BidaskClub downgraded Sun Hydraulics from a “hold” rating to a “sell” rating in a report on Saturday, February 3rd. ValuEngine downgraded Sun Hydraulics from a “buy” rating to a “hold” rating in a report on Friday, April 13th. Finally, KeyCorp initiated coverage on Sun Hydraulics in a research report on Monday, February 5th. They issued an “overweight” rating and a $67.00 target price for the company. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $60.60.
About Sun Hydraulics
Sun Hydraulics Corporation designs, manufactures, and sells screw-in hydraulic cartridge valves, manifolds, and integrated fluid power packages and subsystems used in hydraulic systems worldwide. The company operates through two segments, Hydraulics and Electronics. Its screw-in hydraulic cartridge valves and manifolds control force, speed, and motion as integral components in fluid power systems.
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