Helios Technologies (NASDAQ:HLIO) Reaches New 1-Year High Following Strong Earnings

Helios Technologies, Inc. (NASDAQ:HLIO)’s share price hit a new 52-week high on Wednesday after the company announced better than expected quarterly earnings. The company traded as high as $56.61 and last traded at $55.60, with a volume of 14747 shares traded. The stock had previously closed at $49.07.

The company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.03. Helios Technologies had a return on equity of 7.71% and a net margin of 3.58%. The business had revenue of $194.50 million during the quarter, compared to analysts’ expectations of $196.41 million. During the same quarter in the prior year, the firm earned $0.44 EPS. The business’s revenue for the quarter was down 3.4% compared to the same quarter last year.

Helios Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Friday, October 4th were given a $0.09 dividend. The ex-dividend date was Friday, October 4th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.66%. Helios Technologies’s dividend payout ratio (DPR) is presently 40.00%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on HLIO. Stifel Nicolaus lowered their price objective on Helios Technologies from $64.00 to $63.00 and set a “buy” rating for the company in a research note on Wednesday, October 16th. KeyCorp downgraded Helios Technologies from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, July 9th.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Oppenheimer Asset Management Inc. increased its holdings in Helios Technologies by 23.0% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 30,808 shares of the company’s stock valued at $1,470,000 after purchasing an additional 5,760 shares during the period. Versor Investments LP bought a new stake in shares of Helios Technologies in the 3rd quarter worth approximately $253,000. Diamond Hill Capital Management Inc. bought a new stake in shares of Helios Technologies in the 3rd quarter worth approximately $13,633,000. Stephens Inc. AR purchased a new position in Helios Technologies in the 3rd quarter worth approximately $205,000. Finally, Pinnacle Associates Ltd. raised its holdings in Helios Technologies by 63.8% in the 3rd quarter. Pinnacle Associates Ltd. now owns 19,442 shares of the company’s stock worth $882,000 after acquiring an additional 7,570 shares during the last quarter. Hedge funds and other institutional investors own 94.72% of the company’s stock.

Helios Technologies Stock Performance

The company has a market capitalization of $1.81 billion, a PE ratio of 61.78 and a beta of 0.84. The company has a current ratio of 2.92, a quick ratio of 1.49 and a debt-to-equity ratio of 0.56. The business’s fifty day moving average is $45.63 and its two-hundred day moving average is $46.37.

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.