Ameriprise Financial Inc. Raises Position in Sun Hydraulics Corporation (SNHY)

Ameriprise Financial Inc. increased its position in Sun Hydraulics Corporation (NASDAQ:SNHY) by 186.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 258,333 shares of the industrial products company’s stock after buying an additional 168,220 shares during the quarter. Ameriprise Financial Inc. owned about 0.96% of Sun Hydraulics Corporation worth $11,023,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Royce & Associates LP raised its position in shares of Sun Hydraulics Corporation by 1.3% in the 2nd quarter. Royce & Associates LP now owns 2,128,780 shares of the industrial products company’s stock worth $90,835,000 after buying an additional 28,200 shares during the period. Vanguard Group Inc. raised its position in shares of Sun Hydraulics Corporation by 4.4% in the 1st quarter. Vanguard Group Inc. now owns 1,806,387 shares of the industrial products company’s stock worth $65,229,000 after buying an additional 76,652 shares during the period. Conestoga Capital Advisors LLC raised its position in shares of Sun Hydraulics Corporation by 7.9% in the 2nd quarter. Conestoga Capital Advisors LLC now owns 867,459 shares of the industrial products company’s stock worth $37,014,000 after buying an additional 63,483 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Sun Hydraulics Corporation by 1.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 860,138 shares of the industrial products company’s stock worth $31,059,000 after buying an additional 10,448 shares during the period. Finally, Renaissance Technologies LLC raised its position in shares of Sun Hydraulics Corporation by 17.0% in the 1st quarter. Renaissance Technologies LLC now owns 744,875 shares of the industrial products company’s stock worth $26,897,000 after buying an additional 108,275 shares during the period. 79.94% of the stock is currently owned by institutional investors and hedge funds.

Sun Hydraulics Corporation (NASDAQ SNHY) opened at 56.47 on Wednesday. Sun Hydraulics Corporation has a 12 month low of $28.88 and a 12 month high of $57.73. The stock has a market capitalization of $1.53 billion, a price-to-earnings ratio of 59.44 and a beta of 1.76. The company has a 50 day moving average price of $51.36 and a 200 day moving average price of $43.70.

Sun Hydraulics Corporation (NASDAQ:SNHY) last posted its quarterly earnings results on Monday, August 7th. The industrial products company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.39 by $0.13. Sun Hydraulics Corporation had a net margin of 9.63% and a return on equity of 13.25%. The business had revenue of $89.30 million for the quarter, compared to analysts’ expectations of $79.18 million. During the same period in the previous year, the company posted $0.26 EPS. Sun Hydraulics Corporation’s revenue was up 75.8% on a year-over-year basis. Equities research analysts predict that Sun Hydraulics Corporation will post $1.55 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 20th. Stockholders of record on Thursday, October 5th will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.64%. The ex-dividend date of this dividend is Wednesday, October 4th. Sun Hydraulics Corporation’s dividend payout ratio is currently 37.50%.

In other news, Director Christine L. Koski sold 20,000 shares of the business’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $47.33, for a total transaction of $946,600.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Christine L. Koski sold 15,000 shares of the business’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $49.87, for a total transaction of $748,050.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 85,440 shares of company stock worth $4,070,619. 10.70% of the stock is currently owned by corporate insiders.

Several research analysts recently weighed in on SNHY shares. Zacks Investment Research raised Sun Hydraulics Corporation from a “hold” rating to a “strong-buy” rating and set a $54.00 target price on the stock in a research report on Friday, August 11th. Sidoti started coverage on Sun Hydraulics Corporation in a research report on Thursday, September 14th. They issued a “neutral” rating on the stock. Finally, BidaskClub lowered Sun Hydraulics Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $44.50.

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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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Institutional Ownership by Quarter for Sun Hydraulics Corporation (NASDAQ:SNHY)

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