Rhumbline Advisers increased its position in Sun Hydraulics Co. (NASDAQ:SNHY) by 8.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,314 shares of the industrial products company’s stock after buying an additional 2,315 shares during the period. Rhumbline Advisers’ holdings in Sun Hydraulics were worth $1,461,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. Wasatch Advisors Inc. grew its position in Sun Hydraulics by 12.0% in the second quarter. Wasatch Advisors Inc. now owns 2,314,584 shares of the industrial products company’s stock worth $111,540,000 after acquiring an additional 248,891 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. purchased a new position in Sun Hydraulics in the second quarter worth $275,000. Conestoga Capital Advisors LLC grew its position in Sun Hydraulics by 6.2% in the second quarter. Conestoga Capital Advisors LLC now owns 1,248,622 shares of the industrial products company’s stock worth $60,171,000 after acquiring an additional 72,645 shares in the last quarter. Fred Alger Management Inc. grew its position in Sun Hydraulics by 22.6% in the second quarter. Fred Alger Management Inc. now owns 742,056 shares of the industrial products company’s stock worth $35,760,000 after acquiring an additional 136,836 shares in the last quarter. Finally, Amalgamated Bank purchased a new position in Sun Hydraulics in the second quarter worth $211,000. Institutional investors own 85.73% of the company’s stock.
Several brokerages recently issued reports on SNHY. BidaskClub upgraded shares of Sun Hydraulics from a “sell” rating to a “hold” rating in a research report on Tuesday, July 10th. Zacks Investment Research lowered shares of Sun Hydraulics from a “hold” rating to a “sell” rating in a research report on Sunday, July 15th. Robert W. Baird set a $50.00 price target on shares of Sun Hydraulics and gave the company a “hold” rating in a research report on Tuesday, August 7th. Finally, SunTrust Banks cut their price target on shares of Sun Hydraulics to $59.00 and set a “$49.53” rating for the company in a research report on Wednesday, July 18th. They noted that the move was a valuation call. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $59.50.
NASDAQ SNHY opened at $53.46 on Friday. The company has a quick ratio of 1.06, a current ratio of 1.78 and a debt-to-equity ratio of 0.70. Sun Hydraulics Co. has a 12-month low of $45.44 and a 12-month high of $70.83. The stock has a market cap of $1.65 billion, a price-to-earnings ratio of 33.41 and a beta of 1.76.
Sun Hydraulics (NASDAQ:SNHY) last posted its quarterly earnings results on Tuesday, August 7th. The industrial products company reported $0.43 earnings per share (EPS) for the quarter, missing the 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 for the quarter, compared to analysts’ expectations of $139.80 million. During the same quarter in the previous year, the company earned $0.27 earnings per share. The business’s quarterly revenue was up 52.5% on a year-over-year basis. sell-side analysts predict that Sun Hydraulics Co. will post 1.81 earnings per share for the current fiscal year.
In other news, Director Christine L. Koski sold 22,500 shares of the company’s stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $51.21, for a total transaction of $1,152,225.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Christine L. Koski sold 7,500 shares of the company’s stock in a transaction dated 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. Over the last 90 days, insiders have sold 45,300 shares of company stock valued at $2,328,459. Company insiders own 7.80% of the company’s stock.
About Sun Hydraulics
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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