Wasatch Advisors Inc. acquired a new position in shares of Sun Hydraulics Corporation (NASDAQ:SNHY) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 755,368 shares of the industrial products company’s stock, valued at approximately $40,790,000. Wasatch Advisors Inc. owned about 2.79% of Sun Hydraulics Corporation at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Royce & Associates LP lifted its position in shares of Sun Hydraulics Corporation by 1.3% during the 2nd quarter. Royce & Associates LP now owns 2,128,780 shares of the industrial products company’s stock worth $90,835,000 after purchasing an additional 28,200 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Sun Hydraulics Corporation by 4.1% during the 2nd quarter. Vanguard Group Inc. now owns 1,880,090 shares of the industrial products company’s stock worth $80,223,000 after purchasing an additional 73,703 shares during the last quarter. Conestoga Capital Advisors LLC lifted its position in shares of Sun Hydraulics Corporation by 19.7% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 1,038,477 shares of the industrial products company’s stock worth $56,078,000 after purchasing an additional 171,018 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Sun Hydraulics Corporation by 0.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 866,731 shares of the industrial products company’s stock worth $36,983,000 after purchasing an additional 6,593 shares during the last quarter. Finally, Janus Henderson Group PLC purchased a new stake in shares of Sun Hydraulics Corporation during the 2nd quarter worth $22,193,000. 80.37% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts have recently issued reports on SNHY shares. Zacks Investment Research cut shares of Sun Hydraulics Corporation from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 11th. Robert W. Baird cut shares of Sun Hydraulics Corporation from an “outperform” rating to a “neutral” rating and lifted their price objective for the stock from $55.00 to $57.00 in a research report on Friday, October 13th. Sidoti started coverage on shares of Sun Hydraulics Corporation in a research report on Thursday, September 14th. They set a “neutral” rating for the company. Finally, BidaskClub raised shares of Sun Hydraulics Corporation from a “strong sell” rating to a “sell” rating in a research report on Friday, August 11th. One analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a strong buy rating to the stock. Sun Hydraulics Corporation presently has a consensus rating of “Hold” and a consensus price target of $60.00.

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In related news, Director Christine L. Koski sold 15,000 shares of the business’s stock in a transaction on 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 10.70% of the stock is owned by insiders.

Shares of Sun Hydraulics Corporation (NASDAQ SNHY) traded up $1.42 on Wednesday, reaching $61.43. 128,100 shares of the company were exchanged, compared to its average volume of 102,864. Sun Hydraulics Corporation has a 52-week low of $34.17 and a 52-week high of $61.50. The stock has a market capitalization of $1,624.68, a PE ratio of 41.39 and a beta of 1.80. The company has a current ratio of 2.62, a quick ratio of 1.96 and a debt-to-equity ratio of 0.43.

Sun Hydraulics Corporation (NASDAQ:SNHY) last announced its quarterly earnings results on Monday, November 6th. The industrial products company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.07. Sun Hydraulics Corporation had a net margin of 10.34% and a return on equity of 15.54%. The firm had revenue of $88.00 million during the quarter, compared to analysts’ expectations of $80.66 million. During the same period in the previous year, the company earned $0.19 earnings per share. Sun Hydraulics Corporation’s quarterly revenue was up 94.7% compared to the same quarter last year. analysts anticipate that Sun Hydraulics Corporation will post 1.65 earnings per share for the current fiscal year.

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.

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

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