Heritage Family Offices LLP Cuts Stake in Benchmark Electronics, Inc. (NYSE:BHE)

Heritage Family Offices LLP lowered its stake in shares of Benchmark Electronics, Inc. (NYSE:BHE) by 10.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,828 shares of the technology company’s stock after selling 660 shares during the quarter. Heritage Family Offices LLP’s holdings in Benchmark Electronics were worth $258,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Empowered Funds LLC grew its holdings in Benchmark Electronics by 61.4% during the first quarter. Empowered Funds LLC now owns 75,682 shares of the technology company’s stock worth $2,271,000 after acquiring an additional 28,784 shares during the period. UniSuper Management Pty Ltd purchased a new stake in shares of Benchmark Electronics during the first quarter worth approximately $430,000. Wellington Management Group LLP increased its position in shares of Benchmark Electronics by 63.3% during the fourth quarter. Wellington Management Group LLP now owns 183,278 shares of the technology company’s stock worth $5,066,000 after purchasing an additional 71,024 shares in the last quarter. Millennium Management LLC boosted its stake 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 buying an additional 206,114 shares during the last quarter. Finally, Raymond James & Associates acquired a new position in Benchmark Electronics during the second quarter worth $2,642,000. Institutional investors and hedge funds own 92.29% of the company’s stock.

Insiders Place Their Bets

In other news, Director Jeffrey Stephen Mccreary sold 7,073 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $42.70, for a total value of $302,017.10. Following the completion of the sale, the director now directly owns 42,027 shares of the company’s stock, valued at $1,794,552.90. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.10% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Lake Street Capital upped 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. Needham & Company LLC increased their target price on Benchmark Electronics from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, StockNews.com downgraded Benchmark Electronics from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $41.33.

Benchmark Electronics Trading Up 1.1 %

BHE opened at $44.06 on Thursday. The business’s 50-day simple moving average is $42.56 and its 200-day simple moving average is $39.70. The company has a market cap of $1.59 billion, a P/E ratio of 24.08 and a beta of 0.98. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.42 and a current ratio of 2.35. Benchmark Electronics, Inc. has a one year low of $22.66 and a one year high of $48.58.

Benchmark Electronics (NYSE:BHE) last released its quarterly earnings results on Tuesday, July 30th. The technology company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.06. Benchmark Electronics had a return on equity of 7.17% and a net margin of 2.45%. The firm had revenue of $666.00 million for the quarter, compared to the consensus estimate of $635.75 million. During the same quarter last year, the business posted $0.48 EPS. The firm’s quarterly revenue was down 9.2% compared to the same quarter last year.

Benchmark Electronics Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.54%. This is a boost from Benchmark Electronics’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Monday, September 30th. Benchmark Electronics’s dividend payout ratio (DPR) is presently 37.16%.

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.