Sun Hydraulics Corporation (SNHY) Stake Raised by Voya Investment Management LLC
Voya Investment Management LLC lifted its holdings in Sun Hydraulics Corporation (NASDAQ:SNHY) by 10.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,218 shares of the industrial products company’s stock after buying an additional 1,086 shares during the quarter. Voya Investment Management LLC’s holdings in Sun Hydraulics Corporation were worth $479,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. BNP Paribas Arbitrage SA raised its holdings in shares of Sun Hydraulics Corporation by 542.0% in the second quarter. BNP Paribas Arbitrage SA now owns 3,486 shares of the industrial products company’s stock worth $149,000 after buying an additional 2,943 shares during the period. Victory Capital Management Inc. raised its holdings in shares of Sun Hydraulics Corporation by 17.6% in the second quarter. Victory Capital Management Inc. now owns 4,060 shares of the industrial products company’s stock worth $173,000 after buying an additional 608 shares during the period. Commerce Bank purchased a new stake in shares of Sun Hydraulics Corporation in the second quarter worth approximately $231,000. Affinity Investment Advisors LLC purchased a new stake in shares of Sun Hydraulics Corporation in the second quarter worth approximately $247,000. Finally, Legal & General Group Plc raised its holdings in shares of Sun Hydraulics Corporation by 2.9% in the second quarter. Legal & General Group Plc now owns 5,764 shares of the industrial products company’s stock worth $247,000 after buying an additional 160 shares during the period. Hedge funds and other institutional investors own 81.29% of the company’s stock.
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 transaction of $904,556.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Christine L. Koski sold 20,000 shares of the stock in a transaction 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. In the last three months, insiders sold 85,440 shares of company stock worth $4,070,619. 10.70% of the stock is owned by insiders.
Sun Hydraulics Corporation (NASDAQ SNHY) opened at $59.85 on Tuesday. Sun Hydraulics Corporation has a 52 week low of $28.92 and a 52 week high of $59.97. The stock has a market capitalization of $1,599.98, a P/E ratio of 48.87 and a beta of 1.80. The company has a quick ratio of 2.80, a current ratio of 3.65 and a debt-to-equity ratio of 0.48.
Sun Hydraulics Corporation (NASDAQ:SNHY) last announced its quarterly earnings data on Monday, November 6th. The industrial products company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.09. Sun Hydraulics Corporation had a return on equity of 13.25% and a net margin of 9.63%. The company had revenue of $88.00 million for the quarter, compared to analysts’ expectations of $80.66 million. During the same quarter in the prior year, the firm earned $0.19 earnings per share. Sun Hydraulics Corporation’s revenue was up 94.7% compared to the same quarter last year. analysts expect that Sun Hydraulics Corporation will post 1.6 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 20th. Investors of record on Thursday, October 5th were paid a $0.09 dividend. The ex-dividend date of this dividend was Wednesday, October 4th. This represents a $0.36 annualized dividend and a yield of 0.60%. Sun Hydraulics Corporation’s dividend payout ratio (DPR) is currently 37.50%.
Several brokerages recently issued reports on SNHY. Zacks Investment Research raised Sun Hydraulics Corporation from a “hold” rating to a “strong-buy” rating and set a $63.00 price objective on the stock in a research note on Tuesday, October 17th. Robert W. Baird cut Sun Hydraulics Corporation from an “outperform” rating to a “neutral” rating and increased their price objective for the stock from $55.00 to $57.00 in a research note on Friday, October 13th. 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, two have assigned a hold rating and one has assigned a strong buy rating to the company. Sun Hydraulics Corporation presently has a consensus rating of “Hold” and a consensus price target of $60.00.
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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