BB&T Corp lowered its stake in shares of Sun Hydraulics Corporation (NASDAQ:SNHY) by 1.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,849 shares of the industrial products company’s stock after selling 172 shares during the period. BB&T Corp’s holdings in Sun Hydraulics Corporation were worth $378,000 as of its most recent filing with the SEC.
Other large investors have also made changes to their positions in the company. State Street Corp increased its stake in Sun Hydraulics Corporation by 8.0% in the fourth quarter. State Street Corp now owns 410,237 shares of the industrial products company’s stock worth $16,398,000 after buying an additional 30,367 shares in the last quarter. Norges Bank purchased a new stake in Sun Hydraulics Corporation during the fourth quarter worth $16,192,000. Russell Investments Group Ltd. increased its stake in Sun Hydraulics Corporation by 176.7% in the first quarter. Russell Investments Group Ltd. now owns 15,660 shares of the industrial products company’s stock worth $565,000 after buying an additional 10,001 shares in the last quarter. Citadel Advisors LLC increased its stake in Sun Hydraulics Corporation by 37.7% in the first quarter. Citadel Advisors LLC now owns 51,857 shares of the industrial products company’s stock worth $1,872,000 after buying an additional 14,210 shares in the last quarter. Finally, Brown Capital Management LLC increased its stake in Sun Hydraulics Corporation by 0.4% in the first quarter. Brown Capital Management LLC now owns 4,209,643 shares of the industrial products company’s stock worth $152,010,000 after buying an additional 16,869 shares in the last quarter. 79.50% of the stock is owned by institutional investors and hedge funds.
Sun Hydraulics Corporation (NASDAQ SNHY) opened at 46.32 on Friday. Sun Hydraulics Corporation has a 52-week low of $28.45 and a 52-week high of $48.44. The company has a market cap of $1.25 billion, a PE ratio of 48.76 and a beta of 1.81. The firm has a 50-day moving average price of $43.18 and a 200-day moving average price of $40.00.
Sun Hydraulics Corporation (NASDAQ:SNHY) last released its quarterly earnings results on Monday, August 7th. The industrial products company reported $0.52 earnings per share for the quarter, beating 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 firm had revenue of $89.30 million for the quarter, compared to analysts’ expectations of $79.18 million. During the same quarter last year, the firm posted $0.26 EPS. The company’s revenue was up 75.8% compared to the same quarter last year. On average, analysts forecast that Sun Hydraulics Corporation will post $1.56 EPS for the current year.
A number of equities research analysts have recently weighed in on the company. BidaskClub downgraded Sun Hydraulics Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Zacks Investment Research raised Sun Hydraulics Corporation from a “hold” rating to a “strong-buy” rating and set a $54.00 target price for the company in a report on Friday, August 11th. Finally, TheStreet raised Sun Hydraulics Corporation from a “c” rating to a “b” rating in a report on Monday, May 8th.
In other Sun Hydraulics Corporation news, Director Christine L. Koski sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $42.20, for a total value of $844,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Christine L. Koski sold 5,000 shares of the firm’s stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $44.01, for a total value of $220,050.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 134,440 shares of company stock worth $6,065,767. Insiders own 10.70% of the company’s stock.
About Sun Hydraulics Corporation
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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