The Manufacturers Life Insurance Company Buys 54 Shares of Sun Hydraulics Corporation (SNHY)
The Manufacturers Life Insurance Company increased its stake in Sun Hydraulics Corporation (NASDAQ:SNHY) by 0.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 18,347 shares of the industrial products company’s stock after purchasing an additional 54 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.07% of Sun Hydraulics Corporation worth $784,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in SNHY. Vanguard Group Inc. raised its holdings in Sun Hydraulics Corporation by 4.4% in the 1st quarter. Vanguard Group Inc. now owns 1,806,387 shares of the industrial products company’s stock worth $65,229,000 after purchasing an additional 76,652 shares during the period. Geode Capital Management LLC raised its holdings in Sun Hydraulics Corporation by 6.1% during the first quarter. Geode Capital Management LLC now owns 202,684 shares of the industrial products company’s stock valued at $7,318,000 after acquiring an additional 11,728 shares during the period. Dimensional Fund Advisors LP raised its holdings in Sun Hydraulics Corporation by 1.2% during the first quarter. Dimensional Fund Advisors LP now owns 860,138 shares of the industrial products company’s stock valued at $31,059,000 after acquiring an additional 10,448 shares during the period. Schwab Charles Investment Management Inc. raised its holdings in Sun Hydraulics Corporation by 5.8% during the first quarter. Schwab Charles Investment Management Inc. now owns 100,337 shares of the industrial products company’s stock valued at $3,624,000 after acquiring an additional 5,460 shares during the period. Finally, Bank of America Corp DE raised its holdings in Sun Hydraulics Corporation by 15.1% during 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 acquiring an additional 925 shares during the period. 77.70% of the stock is currently owned by institutional investors.
A number of research firms have commented on SNHY. Zacks Investment Research raised Sun Hydraulics Corporation from a “hold” rating to a “strong-buy” rating and set a $63.00 price target on the stock in a report on Tuesday, October 17th. 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 began coverage on Sun Hydraulics Corporation in a report on Thursday, September 14th. They set 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 analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $60.00.
In related news, Director Christine L. Koski sold 15,000 shares of Sun Hydraulics Corporation stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $49.87, for a total value of $748,050.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 10.70% of the company’s stock.
Sun Hydraulics Corporation (SNHY) opened at $59.28 on Friday. The firm has a market capitalization of $1,568.36, a PE ratio of 39.95 and a beta of 1.80. The company has a current ratio of 2.62, a quick ratio of 1.96 and a debt-to-equity ratio of 0.43. Sun Hydraulics Corporation has a 12-month low of $34.17 and a 12-month high of $59.97.
Sun Hydraulics Corporation (NASDAQ:SNHY) last issued its quarterly earnings data on Monday, November 6th. The industrial products company reported $0.43 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.07. The firm had revenue of $88.00 million during the quarter, compared to analyst estimates of $80.66 million. Sun Hydraulics Corporation had a return on equity of 15.54% and a net margin of 10.34%. The business’s quarterly revenue was up 94.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.19 earnings per share. sell-side analysts forecast that Sun Hydraulics Corporation will post 1.65 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 20th. Stockholders of record on Thursday, October 5th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Wednesday, October 4th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.61%. Sun Hydraulics Corporation’s payout ratio is 30.25%.
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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