Helios Technologies (NASDAQ:HLIO) Announces Share Repurchase Program

Helios Technologies (NASDAQ:HLIO) declared that its board has authorized a stock buyback plan on Monday, February 24th, RTT News reports. The company plans to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 7.8% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Helios Technologies Stock Down 2.8 %

Helios Technologies stock opened at $40.42 on Thursday. The firm’s 50 day moving average price is $43.65 and its two-hundred day moving average price is $46.12. Helios Technologies has a twelve month low of $38.52 and a twelve month high of $57.29. The firm has a market cap of $1.34 billion, a PE ratio of 35.77 and a beta of 0.87. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.54 and a current ratio of 3.03.

Helios Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, January 20th. Stockholders of record on Friday, January 3rd were paid a dividend of $0.09 per share. The ex-dividend date was Friday, January 3rd. This represents a $0.36 annualized dividend and a dividend yield of 0.89%. Helios Technologies’s dividend payout ratio (DPR) is 31.86%.

Analyst Ratings Changes

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 research note on Wednesday.

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.