Bank of New York Mellon Corp lessened its holdings in shares of Sun Hydraulics Corporation (NASDAQ:SNHY) by 1.1% in the second quarter, according to its most recent filing with the SEC. The firm owned 345,235 shares of the industrial products company’s stock after selling 3,773 shares during the quarter. Bank of New York Mellon Corp owned about 1.28% of Sun Hydraulics Corporation worth $14,731,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Victory Capital Management Inc. boosted its position in Sun Hydraulics Corporation by 6.3% during the 1st quarter. Victory Capital Management Inc. now owns 3,452 shares of the industrial products company’s stock worth $125,000 after acquiring an additional 204 shares during the period. Affinity Investment Advisors LLC acquired a new position in Sun Hydraulics Corporation during the 2nd quarter worth $247,000. Bank of America Corp DE boosted its position in Sun Hydraulics Corporation by 15.1% during the 1st quarter. Bank of America Corp DE now owns 7,071 shares of the industrial products company’s stock worth $256,000 after acquiring an additional 925 shares during the period. BB&T Securities LLC boosted its position in Sun Hydraulics Corporation by 0.6% during the 1st quarter. BB&T Securities LLC now owns 7,613 shares of the industrial products company’s stock worth $274,000 after acquiring an additional 45 shares during the period. Finally, Envestnet Asset Management Inc. boosted its position in Sun Hydraulics Corporation by 4.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 10,909 shares of the industrial products company’s stock worth $393,000 after acquiring an additional 426 shares during the period. Institutional investors own 79.94% of the company’s stock.

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In other Sun Hydraulics Corporation news, Director Christine L. Koski sold 19,140 shares of the stock in a transaction on Friday, August 11th. The stock was sold at an average price of $47.26, for a total value of $904,556.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Christine L. Koski sold 15,000 shares of the stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $49.87, for a total value of $748,050.00. The disclosure for this sale can be found here. Insiders sold a total of 85,440 shares of company stock worth $4,070,619 over the last quarter. Corporate insiders own 10.70% of the company’s stock.

Shares of Sun Hydraulics Corporation (SNHY) opened at 52.69 on Friday. The stock has a 50 day moving average price of $47.35 and a 200-day moving average price of $41.68. The company has a market cap of $1.43 billion, a P/E ratio of 55.46 and a beta of 1.78. Sun Hydraulics Corporation has a 1-year low of $28.75 and a 1-year high of $52.81.

Sun Hydraulics Corporation (NASDAQ:SNHY) last announced its quarterly earnings data on Monday, August 7th. The industrial products company reported $0.52 EPS for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.13. The firm had revenue of $89.30 million for the quarter, compared to analyst estimates of $79.18 million. Sun Hydraulics Corporation had a return on equity of 13.25% and a net margin of 9.63%. The business’s quarterly revenue was up 75.8% compared to the same quarter last year. During the same period last year, the company earned $0.26 EPS. Analysts predict that Sun Hydraulics Corporation will post $1.55 earnings per share for the current fiscal year.

A number of brokerages have issued reports on SNHY. Zacks Investment Research upgraded Sun Hydraulics Corporation from a “hold” rating to a “strong-buy” rating and set a $54.00 price target for the company in a research report on Friday, August 11th. BidaskClub raised Sun Hydraulics Corporation from a “strong sell” rating to a “sell” rating in a research note on Friday, August 11th. Finally, Sidoti began coverage on Sun Hydraulics Corporation in a research note on Thursday, September 14th. They issued a “neutral” rating on the stock. One research analyst has rated the stock with a sell rating, one has issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $44.50.

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.

Institutional Ownership by Quarter for Sun Hydraulics Corporation (NASDAQ:SNHY)

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