Today, Sun Hydraulics Corp. (SNHY) Upgraded by Zacks Investment Research to Hold

Today, Sun Hydraulics Corp. (SNHY) Upgraded by Zacks Investment Research to Hold

Zacks Investment Research upgraded shares of Sun Hydraulics Corp. (NASDAQ:SNHY) from a sell rating to a hold rating in a research note released on Wednesday.

According to Zacks, “Sun Hydraulics is a leading designer and manufacturer of high-performance, screw-in hydraulic cartridge valves and manifolds which control force, speed and motion as integral components in fluid power systems. The Company sells its products globally through independent distributors. “

Separately, TheStreet lowered Sun Hydraulics Corp. from a buy rating to a hold rating in a report on Monday, June 20th.

Shares of Sun Hydraulics Corp. (NASDAQ:SNHY) traded down 1.31% during trading on Wednesday, hitting $31.76. The company had a trading volume of 14,867 shares. The stock’s 50-day moving average is $30.57 and its 200 day moving average is $31.08. The firm has a market capitalization of $855.04 million, a P/E ratio of 29.65 and a beta of 2.08. Sun Hydraulics Corp. has a 52-week low of $24.00 and a 52-week high of $35.93.

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, October 15th. Shareholders of record on Friday, September 30th will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.12%. The ex-dividend date of this dividend is Wednesday, September 28th. Sun Hydraulics Corp.’s payout ratio is 33.33%.

In other news, Director Christine L. Koski sold 15,000 shares of the stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $30.35, for a total transaction of $455,250.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Christine L. Koski sold 7,500 shares of the stock in a transaction dated Wednesday, August 24th. The stock was sold at an average price of $31.01, for a total transaction of $232,575.00. The disclosure for this sale can be found here. Company insiders own 10.70% of the company’s stock.

Large investors have recently made changes to their positions in the company. Legal & General Group Plc increased its stake in shares of Sun Hydraulics Corp. by 15.3% in the first quarter. Legal & General Group Plc now owns 3,655 shares of the company’s stock valued at $122,000 after buying an additional 485 shares during the period. Raymond James & Associates increased its stake in shares of Sun Hydraulics Corp. by 15.8% in the second quarter. Raymond James & Associates now owns 7,125 shares of the company’s stock valued at $212,000 after buying an additional 972 shares during the period. BB&T Securities LLC increased its stake in shares of Sun Hydraulics Corp. by 2.4% in the second quarter. BB&T Securities LLC now owns 7,365 shares of the company’s stock valued at $218,000 after buying an additional 175 shares during the period. Alambic Investment Management L.P. acquired a new stake in shares of Sun Hydraulics Corp. during the second quarter valued at $266,000. Finally, Citadel Advisors LLC acquired a new stake in shares of Sun Hydraulics Corp. during the second quarter valued at $278,000. Institutional investors and hedge funds own 75.98% of the company’s stock.

About Sun Hydraulics Corp.

Sun Hydraulics Corporation (Sun) designs and manufactures screw-in hydraulic cartridge valves and manifolds, which control force, speed and motion as integral components in fluid power systems. The Company operates through manufacturing and distribution of hydraulic components segment. The Company, at components level, designs and manufactures screw-in hydraulic cartridge valves, manifolds, and integrates fluid power packages and subsystems.

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