Granite Investment Partners LLC Has $6.24 Million Stake in Helios Technologies, Inc. (NASDAQ:HLIO)

Granite Investment Partners LLC reduced its position in shares of Helios Technologies, Inc. (NASDAQ:HLIO - Free Report) by 15.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 139,849 shares of the company's stock after selling 24,814 shares during the period. Granite Investment Partners LLC owned about 0.42% of Helios Technologies worth $6,243,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Rockefeller Capital Management L.P. raised its holdings in shares of Helios Technologies by 362.8% in the fourth quarter. Rockefeller Capital Management L.P. now owns 249,738 shares of the company's stock valued at $11,148,000 after purchasing an additional 195,779 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Helios Technologies in the 4th quarter valued at about $7,696,000. Renaissance Technologies LLC acquired a new stake in shares of Helios Technologies in the fourth quarter valued at about $1,079,000. Invesco Ltd. increased its position in shares of Helios Technologies by 3.9% during the 4th quarter. Invesco Ltd. now owns 56,699 shares of the company's stock worth $2,531,000 after purchasing an additional 2,137 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in shares of Helios Technologies by 165.7% during the 4th quarter. Envestnet Asset Management Inc. now owns 93,463 shares of the company's stock worth $4,172,000 after purchasing an additional 58,282 shares in the last quarter. 94.72% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Stifel Nicolaus cut their price target on shares of Helios Technologies from $58.00 to $35.00 and set a "buy" rating for the company in a research note on Monday.

Helios Technologies Stock Performance

Shares of HLIO stock traded up $0.43 during trading on Friday, reaching $26.39. 209,561 shares of the company's stock were exchanged, compared to its average volume of 199,644. The firm's fifty day moving average price is $34.44 and its 200-day moving average price is $43.26. Helios Technologies, Inc. has a twelve month low of $24.76 and a twelve month high of $57.29. The stock has a market capitalization of $878.71 million, a PE ratio of 23.36 and a beta of 1.03. The company has a quick ratio of 1.54, a current ratio of 3.03 and a debt-to-equity ratio of 0.52.

Helios Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 22nd. Investors of record on Friday, April 4th will be paid a $0.09 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $0.36 dividend on an annualized basis and a yield of 1.36%. Helios Technologies's dividend payout ratio (DPR) is currently 30.77%.

Helios Technologies declared that its board has approved a stock repurchase plan on Monday, February 24th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 7.8% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's management believes its shares are undervalued.

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.