Corebridge Financial Inc. Cuts Stake in Helios Technologies, Inc. (NASDAQ:HLIO)

Corebridge Financial Inc. lessened its stake in Helios Technologies, Inc. (NASDAQ:HLIO) by 7.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,531 shares of the company’s stock after selling 1,248 shares during the quarter. Corebridge Financial Inc.’s holdings in Helios Technologies were worth $738,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of HLIO. Signaturefd LLC increased its stake in Helios Technologies by 71.8% during the 4th quarter. Signaturefd LLC now owns 687 shares of the company’s stock valued at $31,000 after purchasing an additional 287 shares in the last quarter. King Luther Capital Management Corp grew its holdings in shares of Helios Technologies by 0.4% during the fourth quarter. King Luther Capital Management Corp now owns 70,733 shares of the company’s stock valued at $3,158,000 after buying an additional 291 shares during the last quarter. Inspire Investing LLC increased its position in shares of Helios Technologies by 3.5% during the fourth quarter. Inspire Investing LLC now owns 8,955 shares of the company’s stock valued at $400,000 after acquiring an additional 301 shares in the last quarter. Empower Advisory Group LLC raised its holdings in Helios Technologies by 10.0% in the 4th quarter. Empower Advisory Group LLC now owns 6,765 shares of the company’s stock worth $302,000 after acquiring an additional 615 shares during the last quarter. Finally, Rhumbline Advisers lifted its position in Helios Technologies by 1.5% in the 4th quarter. Rhumbline Advisers now owns 50,612 shares of the company’s stock valued at $2,259,000 after acquiring an additional 726 shares in the last quarter. Institutional investors own 94.72% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Stifel Nicolaus reduced their target price on Helios Technologies from $60.00 to $58.00 and set a “buy” rating for the company in a report on Wednesday, February 26th.

Helios Technologies Price Performance

HLIO opened at $26.45 on Monday. The company’s 50-day simple moving average is $38.13 and its two-hundred day simple moving average is $44.66. 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 stock has a market capitalization of $880.78 million, a P/E ratio of 23.41 and a beta of 1.03. Helios Technologies, Inc. has a 52-week low of $24.90 and a 52-week high of $57.29.

Helios Technologies Announces Dividend

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

Helios Technologies announced that its Board of Directors has approved a stock buyback program on Monday, February 24th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to reacquire up to 7.8% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its stock is 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.