Helios Technologies (NASDAQ:HLIO) to Repurchase $100.00 million in Shares

Helios Technologies (NASDAQ:HLIO - Get Free Report) declared that its board has initiated a share buyback plan on Monday, February 24th, RTT News reports. The company plans to repurchase $100.00 million in shares. This repurchase authorization allows the company to purchase up to 7.8% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's leadership believes its stock is undervalued.

Analysts Set New Price Targets

Separately, Stifel Nicolaus decreased 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.

Helios Technologies Trading Down 0.9 %

HLIO stock traded down $0.37 during trading on Friday, hitting $39.44. The company had a trading volume of 231,418 shares, compared to its average volume of 185,578. The firm has a 50-day moving average price of $43.51 and a 200-day moving average price of $46.08. Helios Technologies has a 12 month low of $38.52 and a 12 month high of $57.29. The company has a quick ratio of 1.54, a current ratio of 3.03 and a debt-to-equity ratio of 0.52. The stock has a market cap of $1.31 billion, a price-to-earnings ratio of 34.90 and a beta of 0.87.

Helios Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 20th. Investors of record on Friday, January 3rd were given a $0.09 dividend. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $0.36 dividend on an annualized basis and a yield of 0.91%. Helios Technologies's payout ratio is 31.86%.

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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.