Truvestments Capital LLC Sells 2,965 Shares of Benchmark Electronics, Inc. (NYSE:BHE)

Truvestments Capital LLC reduced its position in Benchmark Electronics, Inc. (NYSE:BHE) by 19.9% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 11,946 shares of the technology company’s stock after selling 2,965 shares during the period. Truvestments Capital LLC’s holdings in Benchmark Electronics were worth $529,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. UMB Bank n.a. increased its holdings in Benchmark Electronics by 65.7% during the second quarter. UMB Bank n.a. now owns 686 shares of the technology company’s stock valued at $27,000 after buying an additional 272 shares during the period. Quest Partners LLC purchased a new stake in shares of Benchmark Electronics during the 2nd quarter worth $41,000. CWM LLC grew its stake in Benchmark Electronics by 81.9% in the second quarter. CWM LLC now owns 1,106 shares of the technology company’s stock valued at $44,000 after purchasing an additional 498 shares during the last quarter. Quarry LP raised its holdings in Benchmark Electronics by 172.5% in the second 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, Innealta Capital LLC purchased a new stake in shares of Benchmark Electronics during the second quarter valued at about $61,000. 92.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Needham & Company LLC boosted their price objective on shares of Benchmark Electronics from $45.00 to $48.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. StockNews.com raised Benchmark Electronics from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, Lake Street Capital raised their price objective on Benchmark Electronics from $35.00 to $46.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $42.33.

Benchmark Electronics Price Performance

Shares of BHE opened at $48.52 on Tuesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.36 and a quick ratio of 1.45. The company’s fifty day moving average price is $45.32 and its 200-day moving average price is $42.65. Benchmark Electronics, Inc. has a 1-year low of $24.75 and a 1-year high of $52.57. The firm has a market capitalization of $1.75 billion, a PE ratio of 28.21 and a beta of 0.97.

Benchmark Electronics (NYSE:BHE) last released its earnings results on Wednesday, October 30th. The technology company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.03. The firm had revenue of $658.00 million during the quarter, compared to the consensus estimate of $650.00 million. Benchmark Electronics had a return on equity of 6.81% and a net margin of 2.32%. The company’s revenue was down 8.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.57 earnings per share.

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 paid a dividend of $0.17 per share. The ex-dividend date was Monday, September 30th. 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. Benchmark Electronics’s dividend payout ratio (DPR) is presently 39.53%.

Insider Activity

In related news, SVP Rhonda R. Turner sold 6,000 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $2,254,617.18. This represents a 11.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jeff Benck sold 24,000 shares of the business’s stock in a transaction that occurred 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 5.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.10% of the company’s stock.

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.