Benchmark Electronics, Inc. (NYSE:BHE) Shares Sold by Pitcairn Co.

Pitcairn Co. reduced its stake in shares of Benchmark Electronics, Inc. (NYSE:BHE) by 28.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,444 shares of the technology company’s stock after selling 4,980 shares during the period. Pitcairn Co.’s holdings in Benchmark Electronics were worth $552,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in BHE. Victory Capital Management Inc. boosted its stake in Benchmark Electronics by 55.2% during the third quarter. Victory Capital Management Inc. now owns 39,439 shares of the technology company’s stock worth $1,748,000 after buying an additional 14,020 shares during the last quarter. Millennium Management LLC boosted its position in shares of Benchmark Electronics by 85.9% during the 2nd quarter. Millennium Management LLC now owns 446,176 shares of the technology company’s stock valued at $17,606,000 after acquiring an additional 206,114 shares during the last quarter. Pacer Advisors Inc. boosted its position in shares of Benchmark Electronics by 8.9% during the 3rd quarter. Pacer Advisors Inc. now owns 1,944,347 shares of the technology company’s stock valued at $86,173,000 after acquiring an additional 159,659 shares during the last quarter. Raymond James & Associates acquired a new position in shares of Benchmark Electronics during the 2nd quarter valued at about $2,642,000. Finally, Versor Investments LP acquired a new stake in Benchmark Electronics during the second quarter worth about $545,000. 92.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Benchmark Electronics news, SVP Rhonda R. Turner sold 6,000 shares of the stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $46.98, for a total value of $281,880.00. Following the sale, the senior vice president now owns 47,991 shares of the company’s stock, valued at $2,254,617.18. This trade represents a 11.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jeff Benck sold 24,000 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $45.90, for a total value of $1,101,600.00. Following the transaction, the chief executive officer now directly owns 424,173 shares of the company’s stock, valued at approximately $19,469,540.70. This represents a 5.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on BHE shares. StockNews.com raised shares of Benchmark Electronics from a “hold” rating to a “buy” rating in a research note on Tuesday. Needham & Company LLC raised their target price on Benchmark Electronics from $45.00 to $48.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, Lake Street Capital upped their price target on Benchmark Electronics from $35.00 to $46.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Benchmark Electronics presently has an average rating of “Moderate Buy” and a consensus target price of $42.33.

Benchmark Electronics Stock Up 0.7 %

NYSE:BHE opened at $48.52 on Tuesday. Benchmark Electronics, Inc. has a 52 week low of $24.75 and a 52 week high of $52.57. The stock’s fifty day moving average is $45.32 and its two-hundred day moving average is $42.65. The stock has a market capitalization of $1.75 billion, a price-to-earnings ratio of 28.21 and a beta of 0.97. The company has a quick ratio of 1.45, a current ratio of 2.36 and a debt-to-equity ratio of 0.25.

Benchmark Electronics (NYSE:BHE) last released its earnings results on Wednesday, October 30th. The technology company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.03. The company had revenue of $658.00 million during the quarter, compared to the consensus estimate of $650.00 million. Benchmark Electronics had a return on equity of 6.81% and a net margin of 2.32%. Benchmark Electronics’s revenue was down 8.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.57 EPS.

Benchmark Electronics Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.40%. This is a positive change from Benchmark Electronics’s previous quarterly dividend of $0.17. Benchmark Electronics’s dividend payout ratio is currently 39.53%.

Benchmark Electronics Profile

Benchmark Electronics, Inc, together with its subsidiaries, offers product design, engineering services, technology solutions, and manufacturing services in the Americas, Asia, and Europe. The company provides engineering services and technology solutions, including new product design, prototype, testing, and related engineering services; and custom testing and technology solutions, as well as automation equipment design and build services.