Bank of New York Mellon Corp Grows Position in Helios Technologies, Inc. (NASDAQ:HLIO)

Bank of New York Mellon Corp grew its stake in shares of Helios Technologies, Inc. (NASDAQ:HLIO - Free Report) by 18.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 519,531 shares of the company's stock after buying an additional 81,100 shares during the period. Bank of New York Mellon Corp owned 1.56% of Helios Technologies worth $23,192,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Inspire Investing LLC increased its holdings in Helios Technologies by 3.5% in the 4th quarter. Inspire Investing LLC now owns 8,955 shares of the company's stock valued at $400,000 after acquiring an additional 301 shares during the last quarter. Empower Advisory Group LLC increased its holdings in shares of Helios Technologies by 10.0% in the fourth quarter. Empower Advisory Group LLC now owns 6,765 shares of the company's stock worth $302,000 after purchasing an additional 615 shares during the last quarter. King Luther Capital Management Corp lifted its position in shares of Helios Technologies by 1.0% in the third quarter. King Luther Capital Management Corp now owns 70,442 shares of the company's stock worth $3,360,000 after buying an additional 704 shares in the last quarter. Rhumbline Advisers boosted its stake in Helios Technologies by 1.5% during the fourth quarter. Rhumbline Advisers now owns 50,612 shares of the company's stock valued at $2,259,000 after buying an additional 726 shares during the last quarter. Finally, Cardinal Capital Management boosted its stake in Helios Technologies by 4.5% during the fourth quarter. Cardinal Capital Management now owns 23,219 shares of the company's stock valued at $1,036,000 after buying an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 94.72% of the company's stock.

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Helios Technologies Trading Down 0.7 %

Helios Technologies stock traded down $0.27 during midday trading on Wednesday, reaching $36.85. The stock had a trading volume of 2,274 shares, compared to its average volume of 160,821. Helios Technologies, Inc. has a 52-week low of $36.04 and a 52-week high of $57.29. The company has a fifty day moving average of $42.22 and a 200 day moving average of $45.78. The firm has a market cap of $1.23 billion, a price-to-earnings ratio of 32.59 and a beta of 0.90. The company has a quick ratio of 1.54, a current ratio of 3.03 and a debt-to-equity ratio of 0.52.

Helios Technologies declared that its Board of Directors has approved a stock buyback plan on Monday, February 24th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 7.8% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's leadership believes its stock is undervalued.

Analyst Ratings Changes

Separately, Stifel Nicolaus lowered their target price on Helios Technologies from $60.00 to $58.00 and set a "buy" rating for the company in a research report on Wednesday, February 26th.

Helios Technologies 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.