Metropolitan Life Insurance Co. NY Has $553,000 Stake in Sun Hydraulics Corporation (NASDAQ:SNHY)
Metropolitan Life Insurance Co. NY held its position in Sun Hydraulics Corporation (NASDAQ:SNHY) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,324 shares of the industrial products company’s stock at the end of the first quarter. Metropolitan Life Insurance Co. NY’s holdings in Sun Hydraulics Corporation were worth $553,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently bought and sold shares of the stock. Norges Bank bought a new position in Sun Hydraulics Corporation during the fourth quarter valued at $16,192,000. RidgeWorth Capital Management LLC boosted its position in Sun Hydraulics Corporation by 510.8% in the first quarter. RidgeWorth Capital Management LLC now owns 387,051 shares of the industrial products company’s stock valued at $14,011,000 after buying an additional 323,684 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Sun Hydraulics Corporation by 80.0% in the first quarter. Bank of New York Mellon Corp now owns 349,008 shares of the industrial products company’s stock valued at $12,602,000 after buying an additional 155,152 shares during the last quarter. Wellington Management Group LLP bought a new position in Sun Hydraulics Corporation during the first quarter valued at $4,092,000. Finally, Renaissance Technologies LLC boosted its position in Sun Hydraulics Corporation by 17.0% in the first quarter. Renaissance Technologies LLC now owns 744,875 shares of the industrial products company’s stock valued at $26,897,000 after buying an additional 108,275 shares during the last quarter. 80.46% of the stock is owned by institutional investors.
Sun Hydraulics Corporation (NASDAQ SNHY) traded up 0.70% during trading on Thursday, reaching $47.42. 63,953 shares of the company traded hands. The firm has a 50-day moving average price of $42.25 and a 200-day moving average price of $39.59. The company has a market capitalization of $1.28 billion, a P/E ratio of 49.92 and a beta of 1.81. Sun Hydraulics Corporation has a 52 week low of $28.45 and a 52 week high of $48.44.
Sun Hydraulics Corporation (NASDAQ:SNHY) last issued its quarterly earnings results on Monday, August 7th. The industrial products company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.39 by $0.13. The company had revenue of $89.30 million during the quarter, compared to analyst estimates of $79.18 million. Sun Hydraulics Corporation had a net margin of 9.63% and a return on equity of 13.47%. The firm’s revenue was up 75.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.26 EPS. Analysts forecast that Sun Hydraulics Corporation will post $1.41 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Saturday, July 15th. Investors of record on Friday, June 30th were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend was Wednesday, June 28th. Sun Hydraulics Corporation’s payout ratio is presently 37.50%.
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Several equities analysts recently weighed in on SNHY shares. 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 related news, Director Christine L. Koski sold 30,000 shares of the business’s stock in a transaction on Friday, May 12th. The shares were sold at an average price of $42.13, for a total value of $1,263,900.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Allen J. Carlson sold 9,000 shares of the business’s stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $43.00, for a total transaction 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 approximately $1,505,000. The disclosure for this sale can be found here. In the last three months, insiders sold 94,000 shares of company stock valued at $4,007,098. 10.70% of the stock is owned by insiders.
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.
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