California Public Employees Retirement System lowered its holdings in shares of Sun Hydraulics Co. (NASDAQ:SNHY) by 15.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,970 shares of the industrial products company’s stock after selling 7,914 shares during the quarter. California Public Employees Retirement System’s holdings in Sun Hydraulics were worth $2,023,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Amalgamated Bank acquired a new stake in shares of Sun Hydraulics during the second quarter worth about $211,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Sun Hydraulics during the first quarter worth about $268,000. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in shares of Sun Hydraulics during the second quarter worth about $275,000. Xact Kapitalforvaltning AB raised its position in shares of Sun Hydraulics by 69.7% during the first quarter. Xact Kapitalforvaltning AB now owns 5,358 shares of the industrial products company’s stock worth $287,000 after purchasing an additional 2,200 shares during the period. Finally, LPL Financial LLC acquired a new stake in shares of Sun Hydraulics during the first quarter worth about $291,000. 85.74% of the stock is currently owned by institutional investors.
NASDAQ:SNHY opened at $45.51 on Wednesday. The company has a quick ratio of 1.06, a current ratio of 1.78 and a debt-to-equity ratio of 0.70. The stock has a market cap of $1.42 billion, a P/E ratio of 28.44 and a beta of 1.68. Sun Hydraulics Co. has a 52-week low of $43.11 and a 52-week high of $70.83.
The company also recently disclosed a quarterly dividend, which was paid on Saturday, October 20th. Investors of record on Friday, October 5th were issued a dividend of $0.09 per share. The ex-dividend date was Thursday, October 4th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.79%. Sun Hydraulics’s payout ratio is presently 22.50%.
SNHY has been the subject of a number of research reports. BidaskClub upgraded Sun Hydraulics from a “sell” rating to a “hold” rating in a report on Tuesday, July 10th. Zacks Investment Research downgraded Sun Hydraulics from a “hold” rating to a “sell” rating in a report on Sunday, July 15th. SunTrust Banks decreased their price objective on Sun Hydraulics to $59.00 and set a “$49.53” rating for the company in a report on Wednesday, July 18th. They noted that the move was a valuation call. Finally, Robert W. Baird set a $50.00 price objective on Sun Hydraulics and gave the stock a “hold” rating in a report on Tuesday, August 7th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $60.83.
In other Sun Hydraulics news, Director Christine L. Koski sold 22,500 shares of the firm’s stock in a transaction that occurred on Monday, September 10th. The stock was sold at an average price of $51.21, for a total value of $1,152,225.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Tricia L. Fulton sold 7,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 18th. The shares were sold at an average price of $54.21, for a total value of $406,575.00. Following the completion of the transaction, the chief financial officer now owns 62,091 shares of the company’s stock, valued at $3,365,953.11. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 104,601 shares of company stock valued at $5,620,982. 7.80% of the stock is owned by corporate insiders.
About Sun Hydraulics
Helios Technologies designs, manufactures, and sells screw-in hydraulic cartridge valves, manifolds, and integrated fluid power packages and subsystems used in hydraulic systems worldwide. The company operates through two segments, Hydraulics and Electronics. Its screw-in hydraulic cartridge valves and manifolds control force, speed, and motion as integral components in fluid power systems.
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