Sun Hydraulics Co. (NASDAQ:SNHY) major shareholder Robert C. Koski sold 1,000 shares of Sun Hydraulics stock in a transaction on Monday, May 21st. The shares were sold at an average price of $50.68, for a total transaction of $50,680.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Shares of Sun Hydraulics opened at $50.70 on Monday, according to MarketBeat. The firm has a market capitalization of $1.60 billion, a price-to-earnings ratio of 31.69 and a beta of 1.69. Sun Hydraulics Co. has a fifty-two week low of $40.82 and a fifty-two week high of $70.83.
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Sun Hydraulics (NASDAQ:SNHY) last posted its earnings results on Tuesday, May 8th. The industrial products company reported $0.46 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by ($0.02). The business had revenue of $97.30 million for the quarter, compared to analyst estimates of $94.81 million. Sun Hydraulics had a net margin of 9.27% and a return on equity of 14.12%. The business’s revenue was up 19.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.43 EPS. equities research analysts expect that Sun Hydraulics Co. will post 1.99 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 20th. Investors of record on Thursday, July 5th will be issued a dividend of $0.09 per share. The ex-dividend date of this dividend is Tuesday, July 3rd. This represents a $0.36 annualized dividend and a dividend yield of 0.71%. Sun Hydraulics’s payout ratio is 22.50%.
A number of brokerages have weighed in on SNHY. Robert W. Baird decreased their price target on shares of Sun Hydraulics from $64.00 to $55.00 and set a “hold” rating on the stock in a report on Monday, April 9th. ValuEngine lowered shares of Sun Hydraulics from a “buy” rating to a “hold” rating in a report on Friday, April 13th. Stifel Nicolaus decreased their price target on shares of Sun Hydraulics from $61.00 to $57.00 and set a “buy” rating on the stock in a report on Wednesday, May 9th. Sidoti lowered shares of Sun Hydraulics from a “buy” rating to a “neutral” rating in a report on Tuesday, May 8th. Finally, Zacks Investment Research lowered shares of Sun Hydraulics from a “buy” rating to a “hold” rating in a report on Tuesday, May 15th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $60.60.
Several large investors have recently bought and sold shares of the stock. Envestnet Asset Management Inc. lifted its holdings in shares of Sun Hydraulics by 18.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 7,929 shares of the industrial products company’s stock valued at $423,000 after acquiring an additional 1,229 shares in the last quarter. American International Group Inc. lifted its holdings in shares of Sun Hydraulics by 10.5% during the 1st quarter. American International Group Inc. now owns 17,584 shares of the industrial products company’s stock valued at $942,000 after acquiring an additional 1,664 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Sun Hydraulics during the 1st quarter valued at $100,000. MetLife Investment Advisors LLC lifted its holdings in shares of Sun Hydraulics by 17.7% during the 1st quarter. MetLife Investment Advisors LLC now owns 12,428 shares of the industrial products company’s stock valued at $666,000 after acquiring an additional 1,870 shares in the last quarter. Finally, Stifel Financial Corp lifted its holdings in shares of Sun Hydraulics by 5.9% during the 1st quarter. Stifel Financial Corp now owns 34,314 shares of the industrial products company’s stock valued at $1,838,000 after acquiring an additional 1,921 shares in the last quarter. Institutional investors and hedge funds own 82.59% of the company’s stock.
Sun Hydraulics Company Profile
Sun Hydraulics Corporation designs, manufactures, and sells screw-in hydraulic cartridge valves, manifolds, and integrated fluid power packages and subsystems used in hydraulic systems worldwide. The company operates through two segments, Hydraulics and Electronics. Its screw-in hydraulic cartridge valves and manifolds control force, speed, and motion as integral components in fluid power systems.
