Bank of New York Mellon Corp Sells 43,695 Shares of Sun Hydraulics Co. (SNHY)

Bank of New York Mellon Corp decreased its stake in Sun Hydraulics Co. (NASDAQ:SNHY) by 14.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 256,773 shares of the industrial products company’s stock after selling 43,695 shares during the quarter. Bank of New York Mellon Corp’s holdings in Sun Hydraulics were worth $16,611,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Mutual of America Capital Management LLC boosted its stake in shares of Sun Hydraulics by 0.7% in the fourth quarter. Mutual of America Capital Management LLC now owns 118,243 shares of the industrial products company’s stock worth $7,649,000 after buying an additional 819 shares during the last quarter. American International Group Inc. boosted its stake in shares of Sun Hydraulics by 8.1% in the third quarter. American International Group Inc. now owns 15,846 shares of the industrial products company’s stock worth $856,000 after buying an additional 1,185 shares during the last quarter. Cadence Capital Management LLC boosted its stake in shares of Sun Hydraulics by 5.0% in the third quarter. Cadence Capital Management LLC now owns 31,214 shares of the industrial products company’s stock worth $1,686,000 after buying an additional 1,497 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its stake in shares of Sun Hydraulics by 191.8% in the third quarter. Oppenheimer Asset Management Inc. now owns 2,337 shares of the industrial products company’s stock worth $126,000 after buying an additional 1,536 shares during the last quarter. Finally, California Public Employees Retirement System boosted its stake in shares of Sun Hydraulics by 4.7% in the fourth quarter. California Public Employees Retirement System now owns 46,702 shares of the industrial products company’s stock worth $3,021,000 after buying an additional 2,115 shares during the last quarter. Hedge funds and other institutional investors own 70.06% of the company’s stock.

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A number of brokerages have recently commented on SNHY. Zacks Investment Research downgraded Sun Hydraulics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 10th. BidaskClub cut Sun Hydraulics from a “buy” rating to a “hold” rating in a report on Saturday, January 6th. William Blair assumed coverage on Sun Hydraulics in a report on Friday, February 23rd. They issued an “outperform” rating for the company. KeyCorp assumed coverage on Sun Hydraulics in a report on Monday, February 5th. They issued an “overweight” rating and a $67.00 price target for the company. Finally, SunTrust Banks assumed coverage on Sun Hydraulics in a report on Monday, February 5th. They issued a “buy” rating for the company. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $63.00.

Sun Hydraulics stock opened at $53.61 on Friday. The firm has a market capitalization of $1,702.69, a PE ratio of 45.82 and a beta of 1.79. Sun Hydraulics Co. has a fifty-two week low of $34.17 and a fifty-two week high of $70.83. The company has a quick ratio of 2.29, a current ratio of 3.20 and a debt-to-equity ratio of 0.43.

Sun Hydraulics (NASDAQ:SNHY) last released its quarterly earnings results on Monday, February 26th. The industrial products company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.03. The company had revenue of $84.15 million during the quarter, compared to analysts’ expectations of $83.79 million. Sun Hydraulics had a return on equity of 16.58% and a net margin of 9.20%. Sun Hydraulics’s quarterly revenue was up 68.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.18 EPS. analysts forecast that Sun Hydraulics Co. will post 1.88 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, April 20th. Shareholders of record on Thursday, April 5th will be issued a dividend of $0.09 per share. The ex-dividend date is Wednesday, April 4th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.67%. Sun Hydraulics’s payout ratio is currently 30.77%.

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About Sun Hydraulics

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 (NASDAQ:SNHY)

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