Bank of New York Mellon Corp Increases Stock Position in Helios Technologies, Inc. (NASDAQ:HLIO)

Bank of New York Mellon Corp grew its position in Helios Technologies, Inc. (NASDAQ:HLIO) by 18.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 519,531 shares of the company’s stock after purchasing an additional 81,100 shares during the period. Bank of New York Mellon Corp owned about 1.56% of Helios Technologies worth $23,192,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Conestoga Capital Advisors LLC raised its holdings in shares of Helios Technologies by 15.5% in the fourth quarter. Conestoga Capital Advisors LLC now owns 1,986,528 shares of the company’s stock valued at $88,679,000 after purchasing an additional 266,127 shares during the last quarter. Thrivent Financial for Lutherans raised its holdings in shares of Helios Technologies by 30.8% in the third quarter. Thrivent Financial for Lutherans now owns 1,820,140 shares of the company’s stock valued at $86,821,000 after purchasing an additional 428,110 shares during the last quarter. Sara Bay Financial raised its holdings in shares of Helios Technologies by 25.5% in the fourth quarter. Sara Bay Financial now owns 1,217,467 shares of the company’s stock valued at $54,080,000 after purchasing an additional 247,088 shares during the last quarter. State Street Corp increased its holdings in Helios Technologies by 0.6% during the third quarter. State Street Corp now owns 773,777 shares of the company’s stock worth $36,909,000 after buying an additional 4,699 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Helios Technologies by 1.1% during the third quarter. Geode Capital Management LLC now owns 752,544 shares of the company’s stock worth $35,904,000 after buying an additional 7,871 shares during the last quarter. Hedge funds and other institutional investors own 94.72% of the company’s stock.

Helios Technologies Stock Performance

NASDAQ HLIO opened at $37.15 on Monday. Helios Technologies, Inc. has a 52-week low of $36.05 and a 52-week high of $57.29. The company has a 50-day simple moving average of $42.52 and a 200 day simple moving average of $45.87. 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 company has a market capitalization of $1.24 billion, a PE ratio of 32.88 and a beta of 0.90.

Helios Technologies announced that its board has initiated a share repurchase program on Monday, February 24th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to reacquire up to 7.8% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus decreased their price objective on shares of Helios Technologies from $60.00 to $58.00 and set a “buy” rating for the company 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.