Diamond Hill Capital Management Inc. Trims Holdings in Helios Technologies, Inc. (NASDAQ:HLIO)

Diamond Hill Capital Management Inc. decreased its stake in shares of Helios Technologies, Inc. (NASDAQ:HLIO) by 18.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 231,675 shares of the company’s stock after selling 54,130 shares during the period. Diamond Hill Capital Management Inc.’s holdings in Helios Technologies were worth $10,342,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Commonwealth Equity Services LLC bought a new stake in shares of Helios Technologies during the fourth quarter valued at about $517,000. King Luther Capital Management Corp grew its stake in Helios Technologies by 0.4% during the fourth quarter. King Luther Capital Management Corp now owns 70,733 shares of the company’s stock valued at $3,158,000 after acquiring an additional 291 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Helios Technologies during the 4th quarter worth approximately $7,696,000. Charles Schwab Investment Management Inc. lifted its stake in Helios Technologies by 9.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 398,899 shares of the company’s stock worth $17,807,000 after purchasing an additional 33,915 shares in the last quarter. Finally, US Bancorp DE boosted its holdings in Helios Technologies by 321.2% in the 4th quarter. US Bancorp DE now owns 6,705 shares of the company’s stock valued at $299,000 after purchasing an additional 5,113 shares during the period. Institutional investors own 94.72% of the company’s stock.

Helios Technologies Stock Performance

Shares of HLIO opened at $35.95 on Friday. Helios Technologies, Inc. has a 12-month low of $34.91 and a 12-month high of $57.29. The company has a current ratio of 3.03, a quick ratio of 1.54 and a debt-to-equity ratio of 0.52. The company has a market cap of $1.20 billion, a PE ratio of 31.81 and a beta of 0.90. The stock has a 50-day moving average price of $41.70 and a 200-day moving average price of $45.59.

Helios Technologies announced that its board has authorized a stock buyback plan on Monday, February 24th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 7.8% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is 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 given a dividend of $0.09 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $0.36 annualized dividend and a yield of 1.00%. Helios Technologies’s payout ratio is presently 30.77%.

Wall Street Analysts Forecast Growth

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