Sun Hydraulics Corporation (NASDAQ:SNHY) shares rose 9.6% during trading on Tuesday following a stronger than expected earnings report. The stock traded as high as $48.44 and last traded at $47.48, with a volume of 515,785 shares traded. The stock had previously closed at $43.33.
The industrial products company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.13. The business had revenue of $89.30 million for the quarter, compared to analysts’ expectations of $79.18 million. Sun Hydraulics Corporation had a return on equity of 10.57% and a net margin of 11.14%. The firm’s quarterly revenue was up 75.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.26 EPS.
The firm also recently disclosed a quarterly dividend, which was paid on Saturday, July 15th. Investors of record on Friday, June 30th were given a $0.09 dividend. The ex-dividend date was Wednesday, June 28th. This represents a $0.36 annualized dividend and a yield of 0.76%. Sun Hydraulics Corporation’s dividend payout ratio (DPR) is presently 37.90%.
SNHY has been the topic of several analyst reports. BidaskClub cut Sun Hydraulics Corporation from a “buy” rating to a “hold” rating in a research report on Saturday, June 17th. TheStreet raised Sun Hydraulics Corporation from a “c” rating to a “b” rating in a report on Monday, May 8th. Finally, Zacks Investment Research raised Sun Hydraulics Corporation from a “hold” rating to a “buy” rating and set a $47.00 price target on the stock in a report on Saturday, May 13th.
In other news, Director Christine L. Koski sold 5,700 shares of the stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $42.78, for a total transaction of $243,846.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Christine L. Koski sold 5,000 shares of the stock in a transaction on 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. Insiders have sold a total of 94,000 shares of company stock worth $4,007,098 over the last three months. Insiders own 10.70% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. boosted its position in Sun Hydraulics Corporation by 6.3% in the first quarter. Victory Capital Management Inc. now owns 3,452 shares of the industrial products company’s stock valued at $125,000 after buying an additional 204 shares during the last quarter. BNP Paribas Arbitrage SA boosted its position in Sun Hydraulics Corporation by 542.0% in the second quarter. BNP Paribas Arbitrage SA now owns 3,486 shares of the industrial products company’s stock valued at $149,000 after buying an additional 2,943 shares during the last quarter. Commerce Bank purchased a new position in Sun Hydraulics Corporation during the second quarter valued at $231,000. Russell Investments Group Ltd. purchased a new position in Sun Hydraulics Corporation during the fourth quarter valued at $227,000. Finally, Legal & General Group Plc boosted its position in Sun Hydraulics Corporation by 2.9% in the second quarter. Legal & General Group Plc now owns 5,764 shares of the industrial products company’s stock valued at $247,000 after buying an additional 160 shares during the last quarter. 80.46% of the stock is currently owned by hedge funds and other institutional investors.
The firm’s 50-day moving average is $41.99 and its 200-day moving average is $39.41. The stock has a market cap of $1.28 billion, a PE ratio of 50.51 and a beta of 1.81.
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Sun Hydraulics Corporation Company 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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