NGAM Advisors L.P. Buys 4,549 Shares of Sun Hydraulics Corporation (NASDAQ:SNHY)
NGAM Advisors L.P. increased its stake in shares of Sun Hydraulics Corporation (NASDAQ:SNHY) by 7.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 66,275 shares of the industrial products company’s stock after buying an additional 4,549 shares during the period. NGAM Advisors L.P.’s holdings in Sun Hydraulics Corporation were worth $2,828,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Victory Capital Management Inc. raised its stake in 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 valued at $125,000 after buying an additional 204 shares during the last quarter. Russell Investments Group Ltd. bought a new stake in Sun Hydraulics Corporation during the fourth quarter valued at $227,000. Affinity Investment Advisors LLC bought a new stake in Sun Hydraulics Corporation during the second quarter valued at $247,000. Bank of America Corp DE raised its stake in 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 valued at $256,000 after buying an additional 925 shares during the last quarter. Finally, BB&T Securities LLC raised its stake in 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 valued at $274,000 after buying an additional 45 shares during the last quarter. Institutional investors own 80.46% of the company’s stock.
Sun Hydraulics Corporation (SNHY) opened at 47.69 on Friday. Sun Hydraulics Corporation has a 12 month low of $28.46 and a 12 month high of $48.44. The firm has a 50-day moving average price of $42.44 and a 200 day moving average price of $39.65. The company has a market cap of $1.29 billion, a P/E ratio of 50.20 and a beta of 1.81.
Sun Hydraulics Corporation (NASDAQ:SNHY) last posted its earnings results 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. Sun Hydraulics Corporation had a return on equity of 13.47% and a net margin of 9.63%. The company had revenue of $89.30 million for the quarter, compared to the consensus estimate of $79.18 million. During the same quarter in the previous year, the business earned $0.26 earnings per share. The company’s revenue for the quarter was up 75.8% on a year-over-year basis. Equities research analysts predict that Sun Hydraulics Corporation will post $1.41 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Saturday, July 15th. Shareholders of record on Friday, June 30th were given a $0.09 dividend. The ex-dividend date was Wednesday, June 28th. This represents a $0.36 dividend on an annualized basis and a yield of 0.75%. Sun Hydraulics Corporation’s dividend payout ratio is currently 37.50%.
SNHY has been the topic of several research analyst reports. TheStreet raised Sun Hydraulics Corporation from a “c” rating to a “b” rating in a research report on Monday, May 8th. Zacks Investment Research raised Sun Hydraulics Corporation from a “hold” rating to a “buy” rating and set a $47.00 price objective on the stock in a research report on Saturday, May 13th. Finally, BidaskClub downgraded Sun Hydraulics Corporation from a “buy” rating to a “hold” rating in a research report on Saturday, June 17th.
In other Sun Hydraulics Corporation news, Director Christine L. Koski sold 20,000 shares of Sun Hydraulics Corporation stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $47.33, for a total value of $946,600.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Christine L. Koski sold 5,000 shares of Sun Hydraulics Corporation stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $44.01, for a total value of $220,050.00. The disclosure for this sale can be found here. Insiders sold 84,000 shares of company stock worth $3,689,798 in the last 90 days. Company insiders own 10.70% of the company’s stock.
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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