WCM Investment Management CA increased its stake in Sun Hydraulics Co. (NASDAQ:SNHY) by 21.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 101,944 shares of the industrial products company’s stock after acquiring an additional 18,089 shares during the period. WCM Investment Management CA owned approximately 0.32% of Sun Hydraulics worth $5,584,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. boosted its position in shares of Sun Hydraulics by 11.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 150,285 shares of the industrial products company’s stock worth $7,243,000 after acquiring an additional 15,739 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in shares of Sun Hydraulics in the second quarter worth approximately $275,000. Bank of America Corp DE boosted its position in shares of Sun Hydraulics by 30.3% in the second quarter. Bank of America Corp DE now owns 105,491 shares of the industrial products company’s stock worth $5,083,000 after acquiring an additional 24,526 shares during the last quarter. Public Employees Retirement System of Ohio boosted its position in shares of Sun Hydraulics by 5.1% in the second quarter. Public Employees Retirement System of Ohio now owns 57,603 shares of the industrial products company’s stock worth $2,776,000 after acquiring an additional 2,776 shares during the last quarter. Finally, Xact Kapitalforvaltning AB boosted its position in shares of Sun Hydraulics by 69.7% in the first quarter. Xact Kapitalforvaltning AB now owns 5,358 shares of the industrial products company’s stock worth $287,000 after acquiring an additional 2,200 shares during the last quarter. 85.74% of the stock is currently owned by institutional investors and hedge funds.
SNHY has been the topic of several research analyst reports. BidaskClub raised shares of Sun Hydraulics from a “sell” rating to a “hold” rating in a research report on Saturday, September 8th. SunTrust Banks raised their price target on shares of Sun Hydraulics to $62.00 and gave the company a “positive” rating in a report on Thursday, October 4th. Robert W. Baird set a $50.00 price target on shares of Sun Hydraulics and gave the company a “hold” rating in a report on Tuesday, August 7th. Finally, Zacks Investment Research upgraded shares of Sun Hydraulics from a “strong sell” rating to a “hold” rating in a report on Wednesday, September 12th. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $60.83.
In related news, Director Christine L. Koski sold 29,580 shares of the firm’s stock in a transaction that occurred on Friday, September 21st. The shares were sold at an average price of $56.86, for a total value of $1,681,918.80. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Christine L. Koski sold 7,500 shares of the firm’s stock in a transaction that occurred on Thursday, September 6th. The shares were sold at an average price of $50.18, for a total transaction of $376,350.00. The disclosure for this sale can be found here. Insiders sold 104,601 shares of company stock worth $5,620,982 in the last 90 days. 7.80% of the stock is currently owned by insiders.
NASDAQ SNHY opened at $49.81 on Friday. Sun Hydraulics Co. has a one year low of $43.11 and a one year high of $70.83. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.06 and a current ratio of 1.78. The company has a market capitalization of $1.47 billion, a P/E ratio of 31.13 and a beta of 1.71.
Sun Hydraulics (NASDAQ:SNHY) last posted its quarterly earnings results on Tuesday, August 7th. The industrial products company reported $0.43 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.55 by ($0.12). Sun Hydraulics had a net margin of 8.08% and a return on equity of 11.79%. The business had revenue of $136.20 million during the quarter, compared to analysts’ expectations of $139.80 million. During the same quarter in the previous year, the business posted $0.27 EPS. The company’s quarterly revenue was up 52.5% on a year-over-year basis. Equities research analysts predict that Sun Hydraulics Co. will post 1.79 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Saturday, October 20th. Investors of record on Friday, October 5th were issued a $0.09 dividend. The ex-dividend date of this dividend was Thursday, October 4th. This represents a $0.36 annualized dividend and a yield of 0.72%. Sun Hydraulics’s payout ratio is 22.50%.
Sun Hydraulics Profile
Helios Technologies 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.
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