Suntrust Banks Inc. cut its stake in Sun Hydraulics Corporation (NASDAQ:SNHY) by 0.4% during the third quarter, Holdings Channel reports. The firm owned 11,296 shares of the company’s stock after selling 49 shares during the period. Suntrust Banks Inc.’s holdings in Sun Hydraulics Corporation were worth $364,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of the company. Bbva Compass Bancshares Inc. raised its stake in Sun Hydraulics Corporation by 25.4% in the second quarter. Bbva Compass Bancshares Inc. now owns 14,729 shares of the company’s stock valued at $437,000 after buying an additional 2,979 shares during the period. Emerald Acquisition Ltd. bought a new stake in shares of Sun Hydraulics Corporation during the second quarter worth approximately $680,000. Brown Capital Management LLC raised its stake in shares of Sun Hydraulics Corporation by 0.5% in the second quarter. Brown Capital Management LLC now owns 4,131,196 shares of the company’s stock worth $122,655,000 after buying an additional 21,850 shares during the last quarter. First Trust Advisors LP bought a new stake in shares of Sun Hydraulics Corporation during the second quarter worth approximately $527,000. Finally, Dimensional Fund Advisors LP raised its stake in shares of Sun Hydraulics Corporation by 3.5% in the second quarter. Dimensional Fund Advisors LP now owns 842,240 shares of the company’s stock worth $25,006,000 after buying an additional 28,664 shares during the last quarter. Institutional investors own 77.72% of the company’s stock.
Shares of Sun Hydraulics Corporation (NASDAQ:SNHY) traded up 0.49% during midday trading on Friday, hitting $39.12. 11,086 shares of the company were exchanged. Sun Hydraulics Corporation has a one year low of $24.81 and a one year high of $42.00. The firm’s 50 day moving average price is $39.46 and its 200 day moving average price is $33.74. The firm has a market capitalization of $1.05 billion, a price-to-earnings ratio of 41.57 and a beta of 1.85.
Sun Hydraulics Corporation (NASDAQ:SNHY) last posted its earnings results on Monday, November 7th. The company reported $0.19 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.20 by $0.01. Sun Hydraulics Corporation had a return on equity of 10.91% and a net margin of 13.22%. The business had revenue of $45.20 million for the quarter, compared to the consensus estimate of $46.49 million. During the same period in the previous year, the firm earned $0.32 earnings per share. The company’s revenue was down 5.8% compared to the same quarter last year. Analysts forecast that Sun Hydraulics Corporation will post $0.90 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Sunday, January 15th. Shareholders of record on Saturday, December 31st were issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date was Wednesday, December 28th. Sun Hydraulics Corporation’s payout ratio is 37.90%.
A number of equities research analysts recently commented on SNHY shares. Zacks Investment Research upgraded shares of Sun Hydraulics Corporation from a “sell” rating to a “hold” rating in a report on Saturday, November 19th. Robert W. Baird upgraded shares of Sun Hydraulics Corporation from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $27.00 to $35.00 in a report on Tuesday, November 8th.
About Sun Hydraulics Corporation
Sun Hydraulics Corporation (Sun) designs and manufactures screw-in hydraulic cartridge valves and manifolds, which control force, speed and motion as integral components in fluid power systems. The Company operates through manufacturing and distribution of hydraulic components segment. The Company, at components level, designs and manufactures screw-in hydraulic cartridge valves, manifolds, and integrates fluid power packages and subsystems.
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