Conestoga Capital Advisors LLC Buys 63,483 Shares of Sun Hydraulics Corporation (NASDAQ:SNHY)

Conestoga Capital Advisors LLC boosted its stake in Sun Hydraulics Corporation (NASDAQ:SNHY) by 7.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 867,459 shares of the industrial products company’s stock after buying an additional 63,483 shares during the period. Sun Hydraulics Corporation comprises 1.9% of Conestoga Capital Advisors LLC’s holdings, making the stock its 27th largest position. Conestoga Capital Advisors LLC owned approximately 3.21% of Sun Hydraulics Corporation worth $37,014,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SNHY. Victory Capital Management Inc. raised its stake in shares of 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 period. Russell Investments Group Ltd. acquired a new stake in shares of Sun Hydraulics Corporation during the fourth quarter valued at about $227,000. Bank of America Corp DE raised its stake in shares of Sun Hydraulics Corporation 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 during the period. BB&T Securities LLC raised its stake in shares of Sun Hydraulics Corporation by 0.6% in the first quarter. BB&T Securities LLC now owns 7,613 shares of the industrial products company’s stock valued at $274,000 after buying an additional 45 shares during the period. Finally, Envestnet Asset Management Inc. raised its position in Sun Hydraulics Corporation by 4.1% in the first quarter. Envestnet Asset Management Inc. now owns 10,909 shares of the industrial products company’s stock worth $393,000 after buying an additional 426 shares during the last quarter. 80.46% of the stock is owned by hedge funds and other institutional investors.

Sun Hydraulics Corporation (NASDAQ SNHY) opened at 47.09 on Thursday. The firm’s 50-day moving average is $42.25 and its 200-day moving average is $39.59. Sun Hydraulics Corporation has a 52-week low of $28.46 and a 52-week high of $48.44. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of 50.10 and a beta of 1.81.

Sun Hydraulics Corporation (NASDAQ:SNHY) last posted its quarterly earnings data on Monday, August 7th. The industrial products company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.13. Sun Hydraulics Corporation had a return on equity of 13.47% and a net margin of 9.63%. The business had revenue of $89.30 million during the quarter, compared to analysts’ expectations of $79.18 million. During the same quarter in the previous year, the firm earned $0.26 EPS. The firm’s revenue was up 75.8% compared to the same quarter last year. Analysts predict that Sun Hydraulics Corporation will post $1.31 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Saturday, July 15th. Shareholders of record on Friday, June 30th were issued 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 37.50%.

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A number of equities analysts recently weighed in on the stock. BidaskClub downgraded shares of Sun Hydraulics Corporation from a “buy” rating to a “hold” rating in a research note on Saturday, June 17th. TheStreet raised shares of Sun Hydraulics Corporation from a “c” rating to a “b” rating in a research note on Monday, May 8th. Finally, Zacks Investment Research raised shares of Sun Hydraulics Corporation from a “hold” rating to a “buy” rating and set a $47.00 price target on the stock in a research note on Saturday, May 13th.

In related news, Director Christine L. Koski sold 30,000 shares of the stock in a transaction that occurred on Friday, May 12th. The stock was sold at an average price of $42.13, for a total transaction of $1,263,900.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Christine L. Koski sold 5,000 shares of the stock in a transaction that occurred on Friday, June 2nd. The stock was 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 94,000 shares of company stock valued at $4,007,098. Insiders own 10.70% of the company’s stock.

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.

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

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