Helios Technologies (NASDAQ:HLIO) to Repurchase $100.00 million in Outstanding Shares

Helios Technologies (NASDAQ:HLIO) declared that its board has approved a stock repurchase program on Monday, February 24th, RTT News reports. The company plans to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 7.8% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.

Helios Technologies Stock Up 0.5 %

Shares of NASDAQ:HLIO traded up $0.18 on Monday, reaching $38.94. The company had a trading volume of 152,824 shares, compared to its average volume of 142,538. Helios Technologies has a 52-week low of $38.52 and a 52-week high of $57.29. The firm’s 50 day simple moving average is $43.96 and its 200-day simple moving average is $46.18. The firm has a market capitalization of $1.29 billion, a PE ratio of 34.46 and a beta of 0.87. 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, January 20th. Investors of record on Friday, January 3rd were given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.92%. The ex-dividend date was Friday, January 3rd. Helios Technologies’s dividend payout ratio is currently 31.86%.

Wall Street Analysts Forecast Growth

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

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.