California State Teachers Retirement System lowered its stake in shares of Sun Hydraulics Corporation (NASDAQ:SNHY) by 8.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 41,827 shares of the industrial products company’s stock after selling 3,962 shares during the period. California State Teachers Retirement System owned about 0.15% of Sun Hydraulics Corporation worth $1,785,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. purchased a new stake in Sun Hydraulics Corporation during the second quarter worth about $557,000. Teachers Advisors LLC boosted its holdings in Sun Hydraulics Corporation by 7.4% during the second quarter. Teachers Advisors LLC now owns 41,902 shares of the industrial products company’s stock worth $1,788,000 after buying an additional 2,869 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in Sun Hydraulics Corporation by 186.7% during the second quarter. Ameriprise Financial Inc. now owns 258,333 shares of the industrial products company’s stock worth $11,023,000 after buying an additional 168,220 shares in the last quarter. RK Capital Management LLC purchased a new stake in Sun Hydraulics Corporation during the second quarter worth about $7,173,000. Finally, UBS Asset Management Americas Inc. purchased a new stake in Sun Hydraulics Corporation during the second quarter worth about $252,000. 77.70% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Sun Hydraulics Corporation (NASDAQ:SNHY) opened at $59.28 on Friday. Sun Hydraulics Corporation has a fifty-two week low of $34.17 and a fifty-two week high of $59.97. The stock has a market cap of $1,568.36, a PE ratio of 39.95 and a beta of 1.80. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.62 and a quick ratio of 1.96.
The firm also recently declared a quarterly dividend, which was paid on Friday, October 20th. Shareholders of record on Thursday, October 5th were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.61%. The ex-dividend date of this dividend was Wednesday, October 4th. Sun Hydraulics Corporation’s dividend payout ratio (DPR) is presently 30.25%.
In other Sun Hydraulics Corporation news, Director Christine L. Koski sold 15,000 shares of the company’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $49.87, for a total value of $748,050.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 10.70% of the stock is owned by corporate insiders.
A number of analysts recently commented on the stock. Zacks Investment Research raised shares of Sun Hydraulics Corporation from a “hold” rating to a “strong-buy” rating and set a $63.00 price objective on the stock in a report on Tuesday, October 17th. Robert W. Baird downgraded shares of Sun Hydraulics Corporation from an “outperform” rating to a “neutral” rating and boosted their price objective for the stock from $55.00 to $57.00 in a report on Friday, October 13th. Sidoti assumed coverage on shares of Sun Hydraulics Corporation in a report on Thursday, September 14th. They set a “neutral” rating on the stock. Finally, BidaskClub raised shares of Sun Hydraulics Corporation from a “strong sell” rating to a “sell” rating in a report on Friday, August 11th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a strong buy rating to the company’s stock. Sun Hydraulics Corporation presently has a consensus rating of “Hold” and an average target price of $60.00.
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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