Helios Technologies (NASDAQ:HLIO) Reaches New 1-Year High Following Strong Earnings

Shares of Helios Technologies, Inc. (NASDAQ:HLIO) reached a new 52-week high on Wednesday following a better than expected earnings announcement. The company traded as high as $56.61 and last traded at $55.60, with a volume of 14747 shares trading hands. The stock had previously closed at $49.07.

The company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.03. The company had revenue of $194.50 million during the quarter, compared to the consensus estimate of $196.41 million. Helios Technologies had a net margin of 3.58% and a return on equity of 7.71%. Helios Technologies’s quarterly revenue was down 3.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.44 EPS.

Helios Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Friday, October 4th were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.66%. The ex-dividend date of this dividend was Friday, October 4th. Helios Technologies’s payout ratio is currently 40.00%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Stifel Nicolaus decreased their price objective on shares of Helios Technologies from $64.00 to $63.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. KeyCorp downgraded shares of Helios Technologies from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, July 9th.

Hedge Funds Weigh In On Helios Technologies

Institutional investors and hedge funds have recently bought and sold shares of the company. Innealta Capital LLC purchased a new stake in shares of Helios Technologies during the second quarter valued at $35,000. nVerses Capital LLC boosted its holdings in Helios Technologies by 200.0% in the third quarter. nVerses Capital LLC now owns 1,200 shares of the company’s stock valued at $57,000 after purchasing an additional 800 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in Helios Technologies in the second quarter valued at $110,000. SG Americas Securities LLC purchased a new stake in Helios Technologies in the second quarter valued at $138,000. Finally, EntryPoint Capital LLC purchased a new stake in Helios Technologies in the first quarter valued at $133,000. 94.72% of the stock is owned by hedge funds and other institutional investors.

Helios Technologies Stock Performance

The business’s 50-day simple moving average is $45.63 and its two-hundred day simple moving average is $46.37. The firm has a market cap of $1.81 billion, a price-to-earnings ratio of 61.78 and a beta of 0.84. The company has a quick ratio of 1.49, a current ratio of 2.92 and a debt-to-equity ratio of 0.56.

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.