Northern Trust Corp Has $13.14 Million Holdings in Sun Hydraulics Corporation (SNHY)
Northern Trust Corp lowered its stake in Sun Hydraulics Corporation (NASDAQ:SNHY) by 6.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 308,004 shares of the industrial products company’s stock after selling 21,682 shares during the quarter. Northern Trust Corp owned approximately 1.14% of Sun Hydraulics Corporation worth $13,142,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors also recently modified their holdings of SNHY. Victory Capital Management Inc. raised its holdings in shares of Sun Hydraulics Corporation by 6.3% in the 1st quarter. Victory Capital Management Inc. now owns 3,452 shares of the industrial products company’s stock valued at $125,000 after acquiring an additional 204 shares in the last quarter. BNP Paribas Arbitrage SA raised its holdings in shares of Sun Hydraulics Corporation by 542.0% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 3,486 shares of the industrial products company’s stock valued at $149,000 after acquiring an additional 2,943 shares in the last quarter. Commerce Bank purchased a new stake in shares of Sun Hydraulics Corporation in the 2nd quarter valued at about $231,000. Affinity Investment Advisors LLC purchased a new stake in shares of Sun Hydraulics Corporation in the 2nd quarter valued at about $247,000. Finally, Legal & General Group Plc raised its holdings in shares of Sun Hydraulics Corporation by 2.9% in the 2nd quarter. Legal & General Group Plc now owns 5,764 shares of the industrial products company’s stock valued at $247,000 after acquiring an additional 160 shares in the last quarter. Institutional investors and hedge funds own 81.29% of the company’s stock.
Sun Hydraulics Corporation (NASDAQ:SNHY) last released its quarterly earnings data on Monday, August 7th. The industrial products company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.13. Sun Hydraulics Corporation had a return on equity of 13.25% and a net margin of 9.63%. The firm had revenue of $89.30 million during the quarter, compared to analyst estimates of $79.18 million. During the same quarter in the prior year, the company posted $0.26 earnings per share. The business’s quarterly revenue was up 75.8% compared to the same quarter last year.
The company also recently declared a quarterly dividend, which was paid on Friday, October 20th. Investors of record on Thursday, October 5th were paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date of this dividend was Wednesday, October 4th. Sun Hydraulics Corporation’s payout ratio is presently 37.50%.
SNHY has been the topic of several recent analyst reports. Zacks Investment Research cut Sun Hydraulics Corporation from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 11th. Robert W. Baird cut Sun Hydraulics Corporation from an “outperform” rating to a “neutral” rating and raised their price target for the company from $55.00 to $57.00 in a report on Friday, October 13th. Sidoti initiated coverage on Sun Hydraulics Corporation in a report on Thursday, September 14th. They issued a “neutral” rating on the stock. Finally, BidaskClub raised Sun Hydraulics Corporation from a “strong sell” rating to a “sell” rating in a report on Friday, August 11th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has given a strong buy rating to the company’s stock. Sun Hydraulics Corporation has an average rating of “Hold” and an average target price of $60.00.
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In related news, Director Christine L. Koski sold 15,000 shares of the stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $49.87, for a total transaction of $748,050.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Christine L. Koski sold 20,000 shares of the stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $47.33, for a total value of $946,600.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 85,440 shares of company stock valued at $4,070,619. 10.70% of the stock is owned by corporate 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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