Benchmark Electronics, Inc. (NYSE:BHE) CEO Jeff Benck Sells 24,000 Shares

Benchmark Electronics, Inc. (NYSE:BHE) CEO Jeff Benck sold 24,000 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $45.90, for a total value of $1,101,600.00. Following the completion of the sale, the chief executive officer now owns 424,173 shares of the company’s stock, valued at $19,469,540.70. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Benchmark Electronics Price Performance

Shares of NYSE:BHE traded up $0.78 during trading on Thursday, reaching $52.19. 106,795 shares of the company traded hands, compared to its average volume of 309,656. The company’s 50 day moving average is $43.47 and its two-hundred day moving average is $41.30. The firm has a market capitalization of $1.88 billion, a PE ratio of 29.89 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, Inc. has a 52 week low of $23.62 and a 52 week high of $52.49.

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 analysts’ consensus estimates of $0.54 by $0.03. Benchmark Electronics had a return on equity of 6.81% and a net margin of 2.32%. The firm had revenue of $658.00 million during the quarter, compared to the consensus estimate of $650.00 million. During the same period in the prior year, the company posted $0.57 EPS. The company’s revenue was down 8.6% compared to the same quarter last year.

Benchmark Electronics Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were issued 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 1.30%. This is a boost from Benchmark Electronics’s previous quarterly dividend of $0.17. Benchmark Electronics’s payout ratio is 39.53%.

Hedge Funds Weigh In On Benchmark Electronics

A number of institutional investors have recently modified their holdings of BHE. UMB Bank n.a. increased its holdings in Benchmark Electronics by 65.7% in the 2nd quarter. UMB Bank n.a. now owns 686 shares of the technology company’s stock worth $27,000 after purchasing an additional 272 shares in the last quarter. Quest Partners LLC acquired a new position in Benchmark Electronics in the 2nd quarter worth about $41,000. CWM LLC increased its holdings in Benchmark Electronics by 81.9% in the 2nd quarter. CWM LLC now owns 1,106 shares of the technology company’s stock worth $44,000 after purchasing an additional 498 shares in the last quarter. Quarry LP increased its holdings in Benchmark Electronics by 172.5% in the 2nd quarter. Quarry LP now owns 1,379 shares of the technology company’s stock worth $54,000 after purchasing an additional 873 shares in the last quarter. Finally, KBC Group NV increased its holdings in Benchmark Electronics by 125.3% in the 3rd quarter. KBC Group NV now owns 1,534 shares of the technology company’s stock worth $68,000 after purchasing an additional 853 shares in the last quarter. Institutional investors and hedge funds own 92.29% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Lake Street Capital boosted 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. StockNews.com downgraded Benchmark Electronics from a “buy” rating to a “hold” rating in a research report on Saturday, November 2nd. Finally, Needham & Company LLC upped their target price on Benchmark Electronics from $45.00 to $48.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $42.33.

About Benchmark Electronics

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.