Helios Technologies (NASDAQ:HLIO) Sets New 12-Month Low - Here's What Happened

Shares of Helios Technologies, Inc. (NASDAQ:HLIO - Get Free Report) reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $34.75 and last traded at $34.85, with a volume of 35263 shares changing hands. The stock had previously closed at $35.74.

Analyst Upgrades and Downgrades

Separately, Stifel Nicolaus dropped their price objective on shares of Helios Technologies from $60.00 to $58.00 and set a "buy" rating on the stock in a report on Wednesday, February 26th.

Helios Technologies Stock Down 2.1 %

The firm's fifty day moving average price is $40.65 and its two-hundred day moving average price is $45.27. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of 29.81 and a beta of 0.90. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.03 and a quick ratio of 1.54.

Helios Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 22nd. Stockholders of record on Friday, April 4th will be issued a dividend of $0.09 per share. The ex-dividend date is Friday, April 4th. This represents a $0.36 annualized dividend and a dividend yield of 1.07%. Helios Technologies's dividend payout ratio is currently 30.77%.

Helios Technologies declared that its Board of Directors has authorized a stock repurchase plan on Monday, February 24th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 7.8% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's management believes its shares are undervalued.

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Hedge Funds Weigh In On Helios Technologies

Several institutional investors have recently made changes to their positions in HLIO. Vaughan Nelson Investment Management L.P. increased its position in shares of Helios Technologies by 5,804.4% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 720,925 shares of the company's stock worth $32,182,000 after acquiring an additional 708,715 shares in the last quarter. Conestoga Capital Advisors LLC increased its position in shares of Helios Technologies by 15.5% during the fourth quarter. Conestoga Capital Advisors LLC now owns 1,986,528 shares of the company's stock worth $88,679,000 after acquiring an additional 266,127 shares in the last quarter. Sara Bay Financial increased its position in shares of Helios Technologies by 25.5% during the fourth quarter. Sara Bay Financial now owns 1,217,467 shares of the company's stock worth $54,080,000 after acquiring an additional 247,088 shares in the last quarter. Rockefeller Capital Management L.P. increased its position in shares of Helios Technologies by 362.8% during the fourth quarter. Rockefeller Capital Management L.P. now owns 249,738 shares of the company's stock worth $11,148,000 after acquiring an additional 195,779 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Helios Technologies during the fourth quarter worth about $7,696,000. Institutional investors and hedge funds own 94.72% of the company's stock.

About Helios Technologies

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.