Helios Technologies (NASDAQ:HLIO) Board Authorizes Stock Repurchase Program

Helios Technologies (NASDAQ:HLIO) declared that its Board of Directors has approved a share repurchase plan on Monday, February 24th, RTT News reports. The company plans to buyback $100.00 million in shares. This buyback authorization permits the company to buy up to 7.8% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

Separately, Stifel Nicolaus cut their price target on Helios Technologies from $63.00 to $60.00 and set a “buy” rating for the company in a report on Friday, January 24th.

Helios Technologies Trading Up 0.5 %

HLIO stock traded up $0.18 during midday trading on Monday, hitting $38.94. 152,824 shares of the company’s stock were exchanged, compared to its average volume of 142,538. The business has a 50-day simple moving average of $43.96 and a two-hundred day simple moving average of $46.18. The company has a current ratio of 3.03, a quick ratio of 1.54 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $1.29 billion, a PE ratio of 34.46 and a beta of 0.87. Helios Technologies has a 1-year low of $38.52 and a 1-year high of $57.29.

Helios Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 20th. Shareholders of record on Friday, January 3rd were paid a dividend of $0.09 per share. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $0.36 annualized dividend and a yield of 0.92%. Helios Technologies’s dividend payout ratio (DPR) is 31.86%.

Helios Technologies Company Profile

Helios Technologies, Inc, together with its subsidiaries, provides engineered motion control and electronic control technology solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates in two segments, Hydraulics and Electronics. The Hydraulics segment offers cartridge valve technology products to control rates and direction of fluid flow, and to regulate and control pressures for industrial and mobile applications; hydraulic quick release coupling solutions for the agriculture, construction equipment, and industrial markets; motion control technology and fluid conveyance technology; cartridge valve technology; engineered solutions for machine users, manufacturers, or designers.