Stock Repurchase Plan Authorized by Helios Technologies (NASDAQ:HLIO) Board

Helios Technologies (NASDAQ:HLIO) declared that its Board of Directors has approved a share buyback program on Monday, February 24th, RTT News reports. The company plans to buyback $100.00 million in shares. This buyback authorization authorizes the company to purchase up to 7.8% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

Separately, Stifel Nicolaus decreased their price target on shares of Helios Technologies from $63.00 to $60.00 and set a “buy” rating for the company in a research note on Friday, January 24th.

Helios Technologies Stock Performance

Shares of HLIO stock opened at $41.60 on Wednesday. The company has a market cap of $1.38 billion, a P/E ratio of 36.82 and a beta of 0.87. The firm has a fifty day moving average price of $43.79 and a 200 day moving average price of $46.16. The company has a current ratio of 3.03, a quick ratio of 1.54 and a debt-to-equity ratio of 0.52. Helios Technologies has a 12 month low of $38.52 and a 12 month high of $57.29.

Helios Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 20th. Stockholders of record on Friday, January 3rd were given 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 0.87%. Helios Technologies’s dividend payout ratio is currently 31.86%.

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.