TD Asset Management Inc. Cuts Holdings in Sun Hydraulics Corporation (SNHY)

TD Asset Management Inc. lowered its stake in Sun Hydraulics Corporation (NASDAQ:SNHY) by 50.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,450 shares of the industrial products company’s stock after selling 6,600 shares during the quarter. TD Asset Management Inc.’s holdings in Sun Hydraulics were worth $348,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in SNHY. Bank of America Corp DE lifted its stake in Sun Hydraulics by 15.1% in the first quarter. Bank of America Corp DE now owns 7,071 shares of the industrial products company’s stock valued at $256,000 after buying an additional 925 shares in the last quarter. State Street Corp lifted its stake in Sun Hydraulics by 1.5% in the first quarter. State Street Corp now owns 416,491 shares of the industrial products company’s stock valued at $15,037,000 after buying an additional 6,254 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in Sun Hydraulics by 0.5% in the second quarter. Russell Investments Group Ltd. now owns 15,731 shares of the industrial products company’s stock valued at $671,000 after buying an additional 71 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its stake in Sun Hydraulics by 6.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 106,501 shares of the industrial products company’s stock valued at $4,545,000 after buying an additional 6,164 shares in the last quarter. Finally, Rhumbline Advisers lifted its stake in Sun Hydraulics by 0.3% in the second quarter. Rhumbline Advisers now owns 29,593 shares of the industrial products company’s stock valued at $1,263,000 after buying an additional 93 shares in the last quarter. 79.46% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Sun Hydraulics Corporation (NASDAQ SNHY) opened at $58.69 on Friday. The company has a quick ratio of 1.96, a current ratio of 2.62 and a debt-to-equity ratio of 0.43. The company has a market cap of $1,650.00, a price-to-earnings ratio of 39.32 and a beta of 1.79. Sun Hydraulics Corporation has a 1 year low of $34.17 and a 1 year high of $63.63.

Sun Hydraulics (NASDAQ:SNHY) last announced its quarterly earnings data on Monday, November 6th. The industrial products company reported $0.43 EPS for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.07. The business had revenue of $88.00 million for the quarter, compared to analyst estimates of $80.66 million. Sun Hydraulics had a net margin of 10.34% and a return on equity of 15.54%. The firm’s revenue for the quarter was up 94.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.19 earnings per share. research analysts forecast that Sun Hydraulics Corporation will post 1.65 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Saturday, January 20th. Shareholders of record on Friday, January 5th will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.61%. The ex-dividend date of this dividend is Thursday, January 4th. Sun Hydraulics’s dividend payout ratio (DPR) is currently 30.51%.

A number of research analysts have weighed in on the stock. BidaskClub lowered shares of Sun Hydraulics from a “buy” rating to a “hold” rating in a research note on Tuesday. Zacks Investment Research raised shares of Sun Hydraulics from a “hold” rating to a “strong-buy” rating and set a $63.00 price objective on the stock in a research report on Tuesday, October 17th. Sidoti began coverage on shares of Sun Hydraulics in a research report on Thursday, September 14th. They issued a “neutral” rating on the stock. Finally, Robert W. Baird lowered shares of Sun Hydraulics from an “outperform” rating to a “neutral” rating and boosted their price objective for the stock from $55.00 to $57.00 in a research report on Friday, October 13th. Three research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $60.00.

ILLEGAL ACTIVITY WARNING: “TD Asset Management Inc. Cuts Holdings in Sun Hydraulics Corporation (SNHY)” was posted by StockNewsTimes and is the property of of StockNewsTimes. If you are reading this story on another site, it was illegally stolen and republished in violation of United States and international trademark and copyright legislation. The original version of this story can be viewed at https://stocknewstimes.com/2017/12/16/td-asset-management-inc-cuts-holdings-in-sun-hydraulics-corporation-snhy.html.

About Sun Hydraulics

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.

Want to see what other hedge funds are holding SNHY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sun Hydraulics Corporation (NASDAQ:SNHY).

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

Receive News & Ratings for Sun Hydraulics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sun Hydraulics and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply