Wells Fargo & Company MN grew its holdings in shares of Benchmark Electronics, Inc. (NYSE:BHE) by 158.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 223,336 shares of the technology company’s stock after acquiring an additional 136,831 shares during the period. Wells Fargo & Company MN owned 0.46% of Benchmark Electronics worth $6,667,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of BHE. Teacher Retirement System of Texas acquired a new stake in Benchmark Electronics during the 4th quarter worth about $504,000. First Trust Advisors LP grew its holdings in Benchmark Electronics by 3.7% during the 4th quarter. First Trust Advisors LP now owns 69,932 shares of the technology company’s stock worth $2,035,000 after acquiring an additional 2,512 shares during the period. Arizona State Retirement System grew its holdings in Benchmark Electronics by 222.1% during the 4th quarter. Arizona State Retirement System now owns 83,571 shares of the technology company’s stock worth $2,432,000 after acquiring an additional 57,623 shares during the period. Rhumbline Advisers grew its holdings in Benchmark Electronics by 13.9% during the 4th quarter. Rhumbline Advisers now owns 120,710 shares of the technology company’s stock worth $3,513,000 after acquiring an additional 14,772 shares during the period. Finally, BlackRock Inc. grew its holdings in Benchmark Electronics by 1.0% during the 4th quarter. BlackRock Inc. now owns 6,617,833 shares of the technology company’s stock worth $192,579,000 after acquiring an additional 64,458 shares during the period. Hedge funds and other institutional investors own 95.57% of the company’s stock.
Shares of Benchmark Electronics opened at $30.00 on Wednesday, MarketBeat reports. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.23 and a quick ratio of 2.60. The stock has a market cap of $1.39 billion, a price-to-earnings ratio of 17.58 and a beta of 0.39. Benchmark Electronics, Inc. has a 1-year low of $25.75 and a 1-year high of $35.80.
Benchmark Electronics (NYSE:BHE) last issued its earnings results on Wednesday, April 25th. The technology company reported $0.41 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.05. The company had revenue of $608.00 million during the quarter, compared to the consensus estimate of $593.70 million. Benchmark Electronics had a positive return on equity of 6.17% and a negative net margin of 2.60%. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period last year, the business posted $0.34 EPS.
The company also recently announced a quarterly dividend, which will be paid on Thursday, July 12th. Stockholders of record on Friday, June 29th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Thursday, June 28th. This represents a $0.60 annualized dividend and a dividend yield of 2.00%. Benchmark Electronics’s dividend payout ratio is presently 37.27%.
Benchmark Electronics announced that its Board of Directors has approved a stock buyback plan on Wednesday, March 7th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the technology company to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
Benchmark Electronics Company Profile
Benchmark Electronics, Inc, together with its subsidiaries, provides engineering services, integrated technology solutions, and manufacturing services in the Americas, Asia, and Europe. The company offers engineering services and technology solutions, including new product design, prototype, testing, and related engineering services; and custom testing, and automation equipment design and build services.
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