Helios Technologies, Inc. (NASDAQ:HLIO) Stake Trimmed by Wellington Management Group LLP

Wellington Management Group LLP cut its position in shares of Helios Technologies, Inc. (NASDAQ:HLIO) by 27.7% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,463,265 shares of the company’s stock after selling 559,459 shares during the period. Wellington Management Group LLP’s holdings in Helios Technologies were worth $65,320,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Intech Investment Management LLC purchased a new stake in shares of Helios Technologies in the 3rd quarter valued at approximately $224,000. Charles Schwab Investment Management Inc. raised its stake in Helios Technologies by 11.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 364,984 shares of the company’s stock valued at $17,410,000 after purchasing an additional 38,307 shares during the period. BNP Paribas Financial Markets raised its stake in Helios Technologies by 20.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 13,111 shares of the company’s stock valued at $625,000 after purchasing an additional 2,190 shares during the period. Rockefeller Capital Management L.P. lifted its holdings in shares of Helios Technologies by 60.1% in the third quarter. Rockefeller Capital Management L.P. now owns 53,959 shares of the company’s stock valued at $2,574,000 after purchasing an additional 20,250 shares in the last quarter. Finally, Stifel Financial Corp boosted its position in shares of Helios Technologies by 46.5% in the third quarter. Stifel Financial Corp now owns 50,547 shares of the company’s stock worth $2,411,000 after buying an additional 16,041 shares during the period. 94.72% of the stock is currently owned by institutional investors and hedge funds.

Helios Technologies Stock Performance

HLIO stock opened at $26.45 on Friday. The firm has a 50 day simple moving average of $38.13 and a 200 day simple moving average of $44.63. Helios Technologies, Inc. has a 52 week low of $24.90 and a 52 week high of $57.29. The stock has a market cap of $880.78 million, a P/E ratio of 23.41 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.

Helios Technologies announced that its Board of Directors has initiated a stock buyback program on Monday, February 24th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to purchase up to 7.8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are undervalued.

Helios Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 22nd. Shareholders of record on Friday, April 4th will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date is Friday, April 4th. Helios Technologies’s dividend payout ratio (DPR) is currently 30.77%.

Analysts Set New Price Targets

Separately, Stifel Nicolaus reduced their price objective on Helios Technologies from $60.00 to $58.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th.

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.