Janus Henderson Group PLC acquired a new stake in Sun Hydraulics Corporation (NASDAQ:SNHY) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 520,117 shares of the industrial products company’s stock, valued at approximately $22,193,000. Janus Henderson Group PLC owned 1.92% of Sun Hydraulics Corporation at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Victory Capital Management Inc. grew its stake in 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 purchasing an additional 204 shares during the period. BNP Paribas Arbitrage SA grew its stake in 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 purchasing an additional 2,943 shares during the period. Commerce Bank bought a new position in Sun Hydraulics Corporation in the 2nd quarter valued at $231,000. Legal & General Group Plc grew its stake in shares of Sun Hydraulics Corporation by 2.9% during the 2nd quarter. Legal & General Group Plc now owns 5,764 shares of the industrial products company’s stock worth $247,000 after acquiring an additional 160 shares during the period. Finally, Affinity Investment Advisors LLC bought a new position in shares of Sun Hydraulics Corporation during the 2nd quarter worth $247,000. Hedge funds and other institutional investors own 80.71% 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.
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Sun Hydraulics Corporation (NASDAQ:SNHY) traded up 0.37% during mid-day trading on Friday, hitting $56.64. The company’s stock had a trading volume of 77,770 shares. The company’s 50 day moving average is $53.81 and its 200-day moving average is $45.21. The stock has a market cap of $1.53 billion, a P/E ratio of 59.62 and a beta of 1.76. Sun Hydraulics Corporation has a 52-week low of $28.93 and a 52-week high of $57.73.
Sun Hydraulics Corporation (NASDAQ:SNHY) last announced its quarterly earnings data on Monday, August 7th. The industrial products company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $89.30 million for the quarter, compared to analysts’ expectations of $79.18 million. During the same quarter in the prior year, the firm earned $0.26 earnings per share. Sun Hydraulics Corporation’s revenue was up 75.8% compared to the same quarter last year. On average, equities analysts predict that Sun Hydraulics Corporation will post $1.56 EPS for the current fiscal 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 0.64%. Sun Hydraulics Corporation’s dividend payout ratio (DPR) is currently 37.50%.
Several research analysts have recently weighed in on the company. Zacks Investment Research upgraded Sun Hydraulics Corporation from a “hold” rating to a “strong-buy” rating and set a $63.00 price target for the company in a research note on Tuesday, October 17th. Robert W. Baird downgraded Sun Hydraulics Corporation from an “outperform” rating to a “neutral” rating and increased their price target 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 report on Friday, August 11th. Finally, Sidoti assumed coverage on Sun Hydraulics Corporation in a report on Thursday, September 14th. They set a “neutral” rating on the stock. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $60.00.
Sun Hydraulics Corporation 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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