Other analysts have also recently issued reports about the company. TheStreet upgraded Sun Hydraulics from a c+ rating to a b- rating in a research report on Thursday, March 14th. Zacks Investment Research upgraded Sun Hydraulics from a hold rating to a buy rating and set a $53.00 price target on the stock in a research report on Saturday, March 2nd. BidaskClub upgraded Sun Hydraulics from a hold rating to a buy rating in a research report on Friday, March 1st. SunTrust Banks upped their price target on Sun Hydraulics to $53.00 and gave the company a buy rating in a research report on Wednesday, February 27th. Finally, Robert W. Baird set a $44.00 price target on Sun Hydraulics and gave the company a buy rating in a research report on Friday, January 25th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $51.17.
Shares of NASDAQ:SNHY opened at $48.13 on Monday. Sun Hydraulics has a fifty-two week low of $30.79 and a fifty-two week high of $58.13. The firm has a market capitalization of $1.49 billion, a price-to-earnings ratio of 20.93 and a beta of 1.72. The company has a current ratio of 2.12, a quick ratio of 1.19 and a debt-to-equity ratio of 0.65.
The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, April 20th. Shareholders of record on Friday, April 5th will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date is Thursday, April 4th. Sun Hydraulics’s dividend payout ratio is currently 15.65%.
In other Sun Hydraulics news, major shareholder Robert C. Koski sold 2,500 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $49.25, for a total value of $123,125.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Robert C. Koski sold 5,000 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $49.70, for a total value of $248,500.00. The disclosure for this sale can be found here. In the last three months, insiders sold 8,100 shares of company stock worth $399,825. Insiders own 7.80% of the company’s stock.
A number of institutional investors have recently bought and sold shares of SNHY. Bank of New York Mellon Corp boosted its stake in Sun Hydraulics by 1.1% in the third quarter. Bank of New York Mellon Corp now owns 230,819 shares of the industrial products company’s stock worth $12,644,000 after purchasing an additional 2,462 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Sun Hydraulics by 1.2% during the third quarter. BlackRock Inc. now owns 1,905,578 shares of the industrial products company’s stock valued at $104,386,000 after acquiring an additional 23,355 shares during the period. D.A. Davidson & CO. acquired a new position in shares of Sun Hydraulics during the third quarter valued at $223,000. Panagora Asset Management Inc. acquired a new position in shares of Sun Hydraulics during the third quarter valued at $1,036,000. Finally, Virtu Financial LLC acquired a new position in shares of Sun Hydraulics during the third quarter valued at $231,000. 88.61% of the stock is currently owned by institutional investors.
About Sun Hydraulics
Sun Hydraulics Corporation, doing business as Helios Technologies, develops, manufactures, and sells solutions for the hydraulics and electronics markets. The company operates through two segments, Hydraulics and Electronics. The Hydraulics segment offers screw-in hydraulic cartridge valves, electro-hydraulics, manifolds, and integrated package solutions for the industrial and mobile hydraulics markets; quick release hydraulic coupling solutions for the agriculture, construction equipment, and industrial markets; and hydraulic, pneumatic, electronic, and instrumentation solutions to a range of industries, including agriculture, industrial, mining, and material handling.
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