Renaissance Technologies LLC trimmed its holdings in shares of Sun Hydraulics Co. (NASDAQ:SNHY) by 7.9% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 547,300 shares of the industrial products company’s stock after selling 46,700 shares during the period. Renaissance Technologies LLC owned about 1.73% of Sun Hydraulics worth $26,374,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of the stock. Royce & Associates LP boosted its holdings in Sun Hydraulics by 0.8% during the second quarter. Royce & Associates LP now owns 2,334,624 shares of the industrial products company’s stock worth $112,506,000 after buying an additional 17,900 shares in the last quarter. Wasatch Advisors Inc. boosted its holdings in Sun Hydraulics by 12.0% during the second quarter. Wasatch Advisors Inc. now owns 2,314,584 shares of the industrial products company’s stock worth $111,540,000 after buying an additional 248,891 shares in the last quarter. BlackRock Inc. lifted its position in shares of Sun Hydraulics by 11.3% in the 2nd quarter. BlackRock Inc. now owns 1,882,223 shares of the industrial products company’s stock valued at $90,703,000 after acquiring an additional 191,707 shares in the last quarter. Conestoga Capital Advisors LLC lifted its position in shares of Sun Hydraulics by 6.2% in the 2nd quarter. Conestoga Capital Advisors LLC now owns 1,248,622 shares of the industrial products company’s stock valued at $60,171,000 after acquiring an additional 72,645 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Sun Hydraulics by 6.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 947,817 shares of the industrial products company’s stock valued at $45,676,000 after acquiring an additional 53,912 shares in the last quarter. Hedge funds and other institutional investors own 85.72% of the company’s stock.
In other Sun Hydraulics news, Director Christine L. Koski sold 29,580 shares of the stock in a transaction that occurred on Friday, September 21st. The shares were sold at an average price of $56.86, for a total value of $1,681,918.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Christine L. Koski sold 21,000 shares of the stock in a transaction that occurred on Wednesday, September 19th. The stock was sold at an average price of $54.22, for a total transaction of $1,138,620.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 104,601 shares of company stock valued at $5,620,982. Insiders own 7.80% of the company’s stock.
SNHY stock traded up $0.01 during midday trading on Friday, reaching $46.21. The company had a trading volume of 143,430 shares, compared to its average volume of 172,649. Sun Hydraulics Co. has a 1 year low of $45.44 and a 1 year high of $70.83. The company has a quick ratio of 1.06, a current ratio of 1.78 and a debt-to-equity ratio of 0.70. The company has a market cap of $1.73 billion, a price-to-earnings ratio of 28.88 and a beta of 1.68.
Sun Hydraulics (NASDAQ:SNHY) last released its earnings results on Tuesday, August 7th. The industrial products company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.12). Sun Hydraulics had a return on equity of 11.79% and a net margin of 8.08%. The company had revenue of $136.20 million during the quarter, compared to analysts’ expectations of $139.80 million. During the same quarter in the previous year, the company earned $0.27 EPS. The firm’s quarterly revenue was up 52.5% compared to the same quarter last year. On average, research analysts anticipate that Sun Hydraulics Co. will post 1.81 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Saturday, October 20th. Shareholders of record on Friday, October 5th will be given a $0.09 dividend. The ex-dividend date is Thursday, October 4th. This represents a $0.36 dividend on an annualized basis and a yield of 0.78%. Sun Hydraulics’s payout ratio is 22.50%.
Several equities research analysts recently commented on SNHY shares. BidaskClub upgraded shares of Sun Hydraulics from a “sell” rating to a “hold” rating in a research report on Tuesday, July 10th. 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. SunTrust Banks upped their price target on shares of Sun Hydraulics to $62.00 and gave the company a “positive” rating in a research report on Thursday, October 4th. Finally, Zacks Investment Research downgraded shares of Sun Hydraulics from a “hold” rating to a “sell” rating in a research report on Sunday, July 15th. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $60.83.
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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