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Sun Hydraulics (NASDAQ:SNHY) was up 6.1% during trading on Thursday following a dividend announcement from the company, AnalystRatingsNetwork.com reports. The company traded as high as $39.75 and last traded at $39.75, with a volume of 78,176 shares. The stock had previously closed at $37.45.

The newly announced dividend is scheduled for Tuesday, July 15th. Investors of record on Monday, June 30th will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.96%.

Separately, analysts at Zacks downgraded shares of Sun Hydraulics from an “outperform” rating to a “neutral” rating in a research note on Tuesday, May 6th. They now have a $47.80 price target on the stock.

The stock has a 50-day moving average of $38.63 and a 200-day moving average of $40.27. The company has a market cap of $1.053 billion and a price-to-earnings ratio of 24.80.

Sun Hydraulics (NASDAQ:SNHY) last released its earnings data on Monday, May 5th. The company reported $0.43 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.42 by $0.01. The company had revenue of $56.81 million for the quarter, compared to the consensus estimate of $55.41 million. During the same quarter in the prior year, the company posted $0.37 earnings per share. The company’s quarterly revenue was up 11.3% on a year-over-year basis. Analysts expect that Sun Hydraulics will post $1.64 EPS for the current fiscal year.

Sun Hydraulics Corporation (NASDAQ:SNHY) designs, manufactures, and sells screw-in cartridge valves and manifolds used in hydraulic systems.

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