Wrapmanager Inc. Trims Holdings in Helios Technologies, Inc. (NASDAQ:HLIO)

Wrapmanager Inc. reduced its stake in shares of Helios Technologies, Inc. (NASDAQ:HLIO) by 21.4% in the fourth quarter, Holdings Channel reports. The firm owned 6,502 shares of the company’s stock after selling 1,767 shares during the period. Wrapmanager Inc.’s holdings in Helios Technologies were worth $290,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Truvestments Capital LLC bought a new stake in Helios Technologies during the 3rd quarter valued at about $179,000. Stephens Inc. AR bought a new stake in shares of Helios Technologies during the third quarter valued at approximately $205,000. Intech Investment Management LLC bought a new stake in shares of Helios Technologies during the third quarter valued at approximately $224,000. Versor Investments LP purchased a new stake in shares of Helios Technologies in the third quarter valued at approximately $253,000. Finally, Empower Advisory Group LLC grew its stake in Helios Technologies by 10.0% in the fourth quarter. Empower Advisory Group LLC now owns 6,765 shares of the company’s stock worth $302,000 after purchasing an additional 615 shares in the last quarter. 94.72% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Helios Technologies Price Performance

Shares of HLIO opened at $41.60 on Wednesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.54 and a current ratio of 3.03. The company has a 50 day moving average price of $43.79 and a 200-day moving average price of $46.16. Helios Technologies, Inc. has a fifty-two week low of $38.52 and a fifty-two week high of $57.29. The stock has a market capitalization of $1.38 billion, a PE ratio of 36.82 and a beta of 0.87.

Helios Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, January 20th. Shareholders of record on Friday, January 3rd were issued a dividend of $0.09 per share. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $0.36 dividend on an annualized basis and a yield of 0.87%. Helios Technologies’s dividend payout ratio is currently 31.86%.

Helios Technologies declared that its Board of Directors has initiated a share buyback plan on Monday, February 24th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 7.8% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

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.