Vest Financial LLC trimmed its position in Benchmark Electronics, Inc. (NYSE:BHE – Free Report) by 95.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,195 shares of the technology company’s stock after selling 42,930 shares during the period. Vest Financial LLC’s holdings in Benchmark Electronics were worth $217,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Franklin Resources Inc. grew its position in shares of Benchmark Electronics by 8.1% in the fourth quarter. Franklin Resources Inc. now owns 2,906,748 shares of the technology company’s stock valued at $124,293,000 after purchasing an additional 218,450 shares during the period. Tudor Investment Corp ET AL purchased a new position in Benchmark Electronics during the third quarter worth about $645,000. Oppenheimer Asset Management Inc. acquired a new stake in Benchmark Electronics in the 4th quarter worth about $1,193,000. UBS Group AG grew its holdings in Benchmark Electronics by 100.0% in the 4th quarter. UBS Group AG now owns 68,841 shares of the technology company’s stock valued at $2,944,000 after buying an additional 34,415 shares during the period. Finally, Hillsdale Investment Management Inc. purchased a new stake in Benchmark Electronics in the 1st quarter valued at about $4,740,000. 92.29% of the stock is owned by institutional investors and hedge funds.
Benchmark Electronics Price Performance
BHE stock opened at $80.64 on Friday. The stock has a 50-day moving average price of $85.30 and a two-hundred day moving average price of $72.34. Benchmark Electronics, Inc. has a 12-month low of $35.91 and a 12-month high of $100.41. The company has a current ratio of 1.99, a quick ratio of 1.31 and a debt-to-equity ratio of 0.16. The company has a market cap of $2.90 billion, a PE ratio of 54.86 and a beta of 1.27.
Benchmark Electronics Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Tuesday, June 30th were issued a $0.17 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $0.68 annualized dividend and a yield of 0.8%. Benchmark Electronics’s dividend payout ratio (DPR) is presently 46.26%.
Insider Buying and Selling
In other news, SVP Stephen J. Beaver sold 20,000 shares of the stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $86.25, for a total value of $1,725,000.00. Following the completion of the sale, the senior vice president owned 75,020 shares of the company’s stock, valued at $6,470,475. This represents a 21.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David Moezidis sold 12,500 shares of the firm’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $87.57, for a total transaction of $1,094,625.00. Following the completion of the transaction, the chief executive officer directly owned 85,564 shares in the company, valued at approximately $7,492,839.48. This represents a 12.75% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 1.10% of the company’s stock.
Analyst Ratings Changes
Several research analysts have recently weighed in on BHE shares. Lake Street Capital reiterated a “buy” rating and set a $92.00 price objective on shares of Benchmark Electronics in a report on Thursday, April 30th. Needham & Company LLC boosted their target price on shares of Benchmark Electronics from $80.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Finally, Weiss Ratings raised shares of Benchmark Electronics from a “hold (c)” rating to a “buy (b-)” rating in a research report on Friday, July 31st. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $91.00.
View Our Latest Stock Report on Benchmark Electronics
About Benchmark Electronics
Benchmark Electronics, Inc is a global provider of comprehensive electronics manufacturing services (EMS) and integrated engineering solutions. The company offers a full suite of services that span the entire product lifecycle, from early‐stage design and prototyping to high‐volume production and aftermarket support. Benchmark serves diverse end markets, including industrial automation, medical devices, communications, aerospace and defense, and semiconductor equipment.
At the core of Benchmark’s offering are printed circuit board assemblies (PCBA), system integration, box build assemblies and turnkey manufacturing.
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