TD Asset Management Inc. cut its stake in shares of Sun Hydraulics Corporation (NASDAQ:SNHY) by 14.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,050 shares of the industrial products company’s stock after selling 2,200 shares during the period. TD Asset Management Inc.’s holdings in Sun Hydraulics Corporation were worth $557,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. increased its stake in 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 last quarter. Affinity Investment Advisors LLC purchased a new stake in Sun Hydraulics Corporation during the second quarter valued at $247,000. Bank of America Corp DE increased its stake in 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 last quarter. BB&T Securities LLC increased its stake in 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 last quarter. Finally, Envestnet Asset Management Inc. increased its stake 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 valued at $393,000 after buying an additional 426 shares during the last quarter. Hedge funds and other institutional investors own 80.18% of the company’s stock.

Shares of Sun Hydraulics Corporation (SNHY) opened at 47.48 on Thursday. Sun Hydraulics Corporation has a 12-month low of $28.45 and a 12-month high of $48.44. The company has a 50 day moving average price of $43.73 and a 200 day moving average price of $40.27. The company has a market capitalization of $1.28 billion, a P/E ratio of 49.98 and a beta of 1.81.

Sun Hydraulics Corporation (NASDAQ:SNHY) last issued its earnings results on Monday, August 7th. The industrial products company reported $0.52 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.13. Sun Hydraulics Corporation had a return on equity of 13.25% and a net margin of 9.63%. The company had revenue of $89.30 million during the quarter, compared to the consensus estimate of $79.18 million. During the same quarter in the prior year, the business earned $0.26 earnings per share. The company’s revenue was up 75.8% compared to the same quarter last year. Equities analysts anticipate that Sun Hydraulics Corporation will post $1.56 EPS for the current year.

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Several analysts recently weighed in on SNHY shares. TheStreet upgraded Sun Hydraulics Corporation from a “c” rating to a “b” rating in a report on Monday, May 8th. Zacks Investment Research upgraded Sun Hydraulics Corporation from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a report on Saturday, May 13th. Finally, BidaskClub downgraded Sun Hydraulics Corporation from a “buy” rating to a “hold” rating in a report on Saturday, June 17th.

In related news, Director Christine L. Koski sold 5,000 shares of the stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $44.01, for a total value of $220,050.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Christine L. Koski sold 14,753 shares of the stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $47.01, for a total value of $693,538.53. The disclosure for this sale can be found here. Insiders sold 75,440 shares of company stock valued at $3,542,619 in the last ninety days. Company insiders own 10.70% of the company’s stock.

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

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