Pitcairn Co. Decreases Holdings in Benchmark Electronics, Inc. (NYSE:BHE)

Pitcairn Co. lowered its holdings in Benchmark Electronics, Inc. (NYSE:BHE) by 28.6% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 12,444 shares of the technology company’s stock after selling 4,980 shares during the quarter. Pitcairn Co.’s holdings in Benchmark Electronics were worth $552,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Algert Global LLC increased its stake in Benchmark Electronics by 428.1% in the third 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 during the last quarter. Pacer Advisors Inc. grew its position in shares of Benchmark Electronics by 8.9% in the 3rd quarter. Pacer Advisors Inc. now owns 1,944,347 shares of the technology company’s stock valued at $86,173,000 after buying an additional 159,659 shares during the last quarter. Intech Investment Management LLC acquired a new stake in Benchmark Electronics during the 3rd quarter worth $1,063,000. Jennison Associates LLC purchased a new stake in Benchmark Electronics in the third quarter valued at $1,201,000. Finally, Segall Bryant & Hamill LLC acquired a new position in Benchmark Electronics in the third quarter valued at $3,334,000. Institutional investors and hedge funds own 92.29% of the company’s stock.

Analyst Upgrades and Downgrades

BHE has been the subject of several research reports. Lake Street Capital boosted their target price on Benchmark Electronics from $35.00 to $46.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. StockNews.com upgraded Benchmark Electronics from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, Needham & Company LLC raised their target price on shares of Benchmark Electronics from $45.00 to $48.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $42.33.

Benchmark Electronics Stock Performance

NYSE BHE opened at $48.52 on Tuesday. The firm has a market cap of $1.75 billion, a P/E ratio of 28.21 and a beta of 0.97. Benchmark Electronics, Inc. has a 52-week low of $24.75 and a 52-week high of $52.57. The business’s 50-day moving average price is $45.32 and its 200 day moving average price is $42.65. 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 announced 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. Benchmark Electronics had a return on equity of 6.81% and a net margin of 2.32%. The company had revenue of $658.00 million for the quarter, compared to the consensus estimate of $650.00 million. During the same period last year, the business posted $0.57 EPS. The company’s revenue was down 8.6% on a year-over-year basis.

Benchmark Electronics Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were paid a dividend of $0.17 per share. 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. The ex-dividend date was Monday, September 30th. Benchmark Electronics’s payout ratio is 39.53%.

Insider Buying and Selling

In other Benchmark Electronics news, SVP Rhonda R. Turner sold 6,000 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $46.98, for a total value of $281,880.00. Following the completion of the transaction, the senior vice president now owns 47,991 shares in the company, valued at approximately $2,254,617.18. This represents a 11.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jeff Benck sold 24,000 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $45.90, for a total transaction of $1,101,600.00. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by corporate insiders.

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.