Trust Point Inc. Sells 584 Shares of Benchmark Electronics, Inc. (NYSE:BHE)

Trust Point Inc. cut its stake in shares of Benchmark Electronics, Inc. (NYSE:BHE) by 2.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 24,088 shares of the technology company’s stock after selling 584 shares during the quarter. Trust Point Inc.’s holdings in Benchmark Electronics were worth $1,068,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Creative Planning lifted its position in Benchmark Electronics by 14.0% during the third quarter. Creative Planning now owns 55,925 shares of the technology company’s stock valued at $2,479,000 after purchasing an additional 6,880 shares in the last quarter. Inspire Investing LLC lifted its position in shares of Benchmark Electronics by 4.0% in the third quarter. Inspire Investing LLC now owns 9,346 shares of the technology company’s stock valued at $414,000 after acquiring an additional 362 shares in the last quarter. CWM LLC lifted its position in shares of Benchmark Electronics by 54.2% in the third quarter. CWM LLC now owns 1,706 shares of the technology company’s stock valued at $76,000 after acquiring an additional 600 shares in the last quarter. Azzad Asset Management Inc. ADV purchased a new position in shares of Benchmark Electronics in the third quarter valued at about $766,000. Finally, GAMMA Investing LLC lifted its position in shares of Benchmark Electronics by 161.3% in the third quarter. GAMMA Investing LLC now owns 2,255 shares of the technology company’s stock valued at $100,000 after acquiring an additional 1,392 shares in the last quarter. 92.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on BHE shares. Needham & Company LLC boosted their price objective on Benchmark Electronics from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Lake Street Capital boosted their target price on Benchmark Electronics from $35.00 to $46.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, StockNews.com downgraded Benchmark Electronics from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Benchmark Electronics currently has a consensus rating of “Hold” and an average target price of $41.33.

Benchmark Electronics Stock Up 0.2 %

Benchmark Electronics stock traded up $0.09 during mid-day trading on Friday, reaching $45.08. 67,923 shares of the company were exchanged, compared to its average volume of 311,358. The business has a fifty day moving average of $42.63 and a 200 day moving average of $39.73. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.42 and a current ratio of 2.35. The firm has a market cap of $1.62 billion, a P/E ratio of 24.58 and a beta of 0.98. Benchmark Electronics, Inc. has a 12-month low of $22.66 and a 12-month high of $48.58.

Benchmark Electronics (NYSE:BHE) last issued its quarterly earnings data on Tuesday, July 30th. The technology company reported $0.57 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $635.75 million. During the same quarter in the prior year, the business posted $0.48 EPS. The business’s revenue for the quarter was down 9.2% compared to the same quarter last year.

Benchmark Electronics Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Monday, September 30th. This is a boost from Benchmark Electronics’s previous quarterly dividend of $0.17. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.51%. Benchmark Electronics’s dividend payout ratio (DPR) is 37.16%.

Insider Activity

In other Benchmark Electronics news, Director Jeffrey Stephen Mccreary sold 7,073 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $42.70, for a total value of $302,017.10. Following the transaction, 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 document filed with the SEC, which is available through this hyperlink. 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.