Norges Bank Purchases New Stake in Helios Technologies, Inc. (NASDAQ:HLIO)

Norges Bank purchased a new position in Helios Technologies, Inc. (NASDAQ:HLIO - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 86,297 shares of the company's stock, valued at approximately $3,852,000. Norges Bank owned about 0.26% of Helios Technologies as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its stake in shares of Helios Technologies by 94.4% during the fourth quarter. JPMorgan Chase & Co. now owns 115,542 shares of the company's stock valued at $5,158,000 after buying an additional 56,113 shares during the period. Vanguard Group Inc. increased its position in shares of Helios Technologies by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 3,328,127 shares of the company's stock worth $148,568,000 after acquiring an additional 13,059 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of Helios Technologies in the 4th quarter valued at $330,000. Sei Investments Co. boosted its position in Helios Technologies by 5.8% during the 4th quarter. Sei Investments Co. now owns 187,176 shares of the company's stock worth $8,356,000 after purchasing an additional 10,225 shares during the period. Finally, American Century Companies Inc. increased its holdings in Helios Technologies by 23.5% in the 4th quarter. American Century Companies Inc. now owns 59,816 shares of the company's stock valued at $2,670,000 after purchasing an additional 11,383 shares in the last quarter. Hedge funds and other institutional investors own 94.72% of the company's stock.

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Helios Technologies Stock Down 1.9 %

Shares of HLIO stock traded down $0.51 on Wednesday, hitting $26.18. The stock had a trading volume of 9,731 shares, compared to its average volume of 198,576. Helios Technologies, Inc. has a 52-week low of $24.76 and a 52-week high of $57.29. The firm has a market capitalization of $871.69 million, a price-to-earnings ratio of 23.11 and a beta of 1.03. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.54 and a current ratio of 3.03. The stock's 50 day moving average is $35.09 and its 200-day moving average is $43.53.

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

Helios Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 22nd. Stockholders of record on Friday, April 4th will be paid 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 1.38%. Helios Technologies's dividend payout ratio is presently 30.77%.

Analyst Upgrades and Downgrades

Separately, Stifel Nicolaus lowered their target price on Helios Technologies from $58.00 to $35.00 and set a "buy" rating for the company in a research note on Monday.

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.