Helios Technologies (NASDAQ:HLIO) Announces Share Repurchase Program

Helios Technologies (NASDAQ:HLIO) announced that its Board of Directors has authorized a share repurchase plan on Monday, February 24th, RTT News reports. The company plans to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to purchase up to 7.8% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Helios Technologies Price Performance

NASDAQ:HLIO opened at $40.42 on Thursday. The company has a 50-day moving average of $43.65 and a 200-day moving average of $46.12. The company has a market capitalization of $1.34 billion, a price-to-earnings ratio of 35.77 and a beta of 0.87. Helios Technologies has a 52 week low of $38.52 and a 52 week high of $57.29. 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 disclosed a quarterly dividend, which was paid on Monday, January 20th. Stockholders of record on Friday, January 3rd were issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date was Friday, January 3rd. Helios Technologies’s payout ratio is 31.86%.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus reduced their price target on shares of Helios Technologies from $60.00 to $58.00 and set a “buy” rating for the company in a report 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.