Renaissance Technologies LLC Makes New Investment in Helios Technologies, Inc. (NASDAQ:HLIO)

Renaissance Technologies LLC purchased a new stake in shares of Helios Technologies, Inc. (NASDAQ:HLIO - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 24,175 shares of the company's stock, valued at approximately $1,079,000. Renaissance Technologies LLC owned about 0.07% of Helios Technologies at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in HLIO. Vaughan Nelson Investment Management L.P. raised its stake in Helios Technologies by 5,804.4% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 720,925 shares of the company's stock valued at $32,182,000 after purchasing an additional 708,715 shares in the last quarter. Conestoga Capital Advisors LLC raised its position in shares of Helios Technologies by 15.5% during the 4th quarter. Conestoga Capital Advisors LLC now owns 1,986,528 shares of the company's stock valued at $88,679,000 after buying an additional 266,127 shares in the last quarter. Sara Bay Financial lifted its holdings in shares of Helios Technologies by 25.5% in the 4th quarter. Sara Bay Financial now owns 1,217,467 shares of the company's stock valued at $54,080,000 after acquiring an additional 247,088 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Helios Technologies in the fourth quarter worth about $7,696,000. Finally, Norges Bank bought a new stake in Helios Technologies during the fourth quarter worth approximately $3,852,000. Hedge funds and other institutional investors own 94.72% of the company's stock.

Helios Technologies Trading Up 2.3 %

HLIO traded up $0.62 during trading on Friday, hitting $28.11. 392,139 shares of the stock were exchanged, compared to its average volume of 204,405. 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 firm has a 50 day simple moving average of $31.49 and a 200 day simple moving average of $41.64. The firm has a market cap of $937.00 million, a price-to-earnings ratio of 24.88 and a beta of 1.03. Helios Technologies, Inc. has a 1 year low of $24.76 and a 1 year high of $57.29.

Helios Technologies announced that its Board of Directors has authorized a stock buyback plan on Monday, February 24th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to repurchase up to 7.8% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

Helios Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 22nd. Stockholders of record on Friday, April 4th were given a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.28%. The ex-dividend date was Friday, April 4th. Helios Technologies's payout ratio is 30.77%.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus cut their price objective on shares of Helios Technologies from $58.00 to $35.00 and set a "buy" rating on the stock in a research report on Monday, April 14th.

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.