Franklin Resources Inc. Increases Stake in Benchmark Electronics, Inc. (NYSE:BHE)

Franklin Resources Inc. raised its holdings in Benchmark Electronics, Inc. (NYSE:BHE) by 0.6% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,897,568 shares of the technology company’s stock after buying an additional 11,738 shares during the period. Franklin Resources Inc. owned approximately 5.27% of Benchmark Electronics worth $84,081,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of BHE. Victory Capital Management Inc. boosted its holdings 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 in the last quarter. FMR LLC grew its holdings in shares of Benchmark Electronics by 27.3% in the 3rd quarter. FMR LLC now owns 120,126 shares of the technology company’s stock worth $5,324,000 after acquiring an additional 25,769 shares during the period. Algert Global LLC increased its stake in Benchmark Electronics by 428.1% in the 3rd quarter. Algert Global LLC now owns 32,887 shares of the technology company’s stock valued at $1,458,000 after purchasing an additional 26,660 shares in the last quarter. Millennium Management LLC raised its holdings in Benchmark Electronics by 85.9% during the second quarter. Millennium Management LLC now owns 446,176 shares of the technology company’s stock worth $17,606,000 after purchasing an additional 206,114 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its position in Benchmark Electronics by 8.9% during the third quarter. Pacer Advisors Inc. now owns 1,944,347 shares of the technology company’s stock worth $86,173,000 after purchasing an additional 159,659 shares in the last quarter. Institutional investors and hedge funds own 92.29% of the company’s stock.

Benchmark Electronics Stock Up 0.6 %

Shares of NYSE:BHE opened at $48.61 on Tuesday. The company has a market capitalization of $1.75 billion, a P/E ratio of 28.26 and a beta of 0.99. The stock’s fifty day simple moving average is $46.70 and its 200-day simple moving average is $43.34. Benchmark Electronics, Inc. has a 52-week low of $25.35 and a 52-week high of $52.57. 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 quarterly earnings results on Wednesday, October 30th. The technology company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.03. The company had revenue of $658.00 million for the quarter, compared to analysts’ expectations of $650.00 million. Benchmark Electronics had a net margin of 2.32% and a return on equity of 6.81%. The firm’s revenue for the quarter was down 8.6% compared to the same quarter last year. During the same period last year, the company earned $0.57 EPS.

Benchmark Electronics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st will be issued a $0.17 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.68 annualized dividend and a yield of 1.40%. Benchmark Electronics’s dividend payout ratio (DPR) is presently 39.53%.

Insiders Place Their Bets

In other Benchmark Electronics news, SVP Rhonda R. Turner sold 6,000 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $46.98, for a total transaction of $281,880.00. Following the completion of the sale, the senior vice president now owns 47,991 shares of the company’s stock, valued at approximately $2,254,617.18. The trade was a 11.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jeff Benck sold 24,000 shares of the company’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 sale, the chief executive officer now owns 424,173 shares of the company’s stock, valued at $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. Corporate insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

BHE has been the subject of several research reports. StockNews.com downgraded Benchmark Electronics from a “buy” rating to a “hold” rating in a research note on Wednesday, December 4th. Needham & Company LLC upped their price target on shares of Benchmark Electronics from $45.00 to $48.00 and gave the company a “buy” rating in a report on Friday, November 1st. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Benchmark Electronics currently has an average rating of “Hold” and a consensus target price of $42.33.

Benchmark Electronics Company 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.