Helios Technologies (NASDAQ:HLIO) Sets New 52-Week High on Strong Earnings

Shares of Helios Technologies, Inc. (NASDAQ:HLIO - Get Free Report) reached a new 52-week high during trading on Wednesday following a stronger than expected earnings report. The company traded as high as $56.61 and last traded at $55.60, with a volume of 14747 shares traded. The stock had previously closed at $49.07.

The company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.56 by $0.03. Helios Technologies had a return on equity of 7.71% and a net margin of 3.58%. The business had revenue of $194.50 million during the quarter, compared to analysts' expectations of $196.41 million. During the same quarter in the prior year, the business earned $0.44 earnings per share. The company's quarterly revenue was down 3.4% compared to the same quarter last year.

Helios Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 21st. Stockholders of record on Friday, October 4th were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.64%. The ex-dividend date was Friday, October 4th. Helios Technologies's payout ratio is 40.00%.

Analysts Set New Price Targets

HLIO has been the subject of a number of recent analyst reports. Stifel Nicolaus reduced their price objective on shares of Helios Technologies from $64.00 to $63.00 and set a "buy" rating for the company in a research report on Wednesday, October 16th. KeyCorp downgraded Helios Technologies from an "overweight" rating to a "sector weight" rating in a research note on Tuesday, July 9th.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Royce & Associates LP increased its stake in Helios Technologies by 34.1% in the 3rd quarter. Royce & Associates LP now owns 388,659 shares of the company's stock valued at $18,539,000 after purchasing an additional 98,900 shares in the last quarter. Oppenheimer Asset Management Inc. grew its holdings in Helios Technologies by 23.0% in the third quarter. Oppenheimer Asset Management Inc. now owns 30,808 shares of the company's stock valued at $1,470,000 after purchasing an additional 5,760 shares during the last quarter. Versor Investments LP acquired a new stake in Helios Technologies in the third quarter valued at $253,000. Diamond Hill Capital Management Inc. purchased a new position in shares of Helios Technologies in the third quarter valued at $13,633,000. Finally, Stephens Inc. AR acquired a new position in shares of Helios Technologies during the 3rd quarter worth $205,000. 94.72% of the stock is owned by hedge funds and other institutional investors.

Helios Technologies Stock Up 14.7 %

The firm has a market capitalization of $1.87 billion, a PE ratio of 61.78 and a beta of 0.84. The firm's 50-day moving average is $45.63 and its 200 day moving average is $46.37. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.49 and a current ratio of 2.92.

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.