Empowered Funds LLC Increases Stock Position in Benchmark Electronics, Inc. (NYSE:BHE)

Empowered Funds LLC raised its holdings in shares of Benchmark Electronics, Inc. (NYSE:BHE) by 5.4% during the third quarter, HoldingsChannel reports. The fund owned 173,894 shares of the technology company’s stock after purchasing an additional 8,844 shares during the quarter. Empowered Funds LLC’s holdings in Benchmark Electronics were worth $7,707,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. UniSuper Management Pty Ltd bought a new position in shares of Benchmark Electronics in the first quarter valued at approximately $430,000. Millennium Management LLC grew its position in shares of Benchmark Electronics by 85.9% during the 2nd quarter. Millennium Management LLC now owns 446,176 shares of the technology company’s stock valued at $17,606,000 after purchasing an additional 206,114 shares in the last quarter. Raymond James & Associates bought a new position in shares of Benchmark Electronics in the second quarter worth $2,642,000. Versor Investments LP purchased a new stake in shares of Benchmark Electronics in the second quarter worth $545,000. Finally, Squarepoint Ops LLC bought a new stake in Benchmark Electronics during the second quarter valued at $2,459,000. Institutional investors own 92.29% of the company’s stock.

Benchmark Electronics Trading Down 1.7 %

Shares of BHE stock opened at $47.06 on Friday. The company has a quick ratio of 1.45, a current ratio of 2.36 and a debt-to-equity ratio of 0.25. The firm has a market cap of $1.69 billion, a P/E ratio of 27.36 and a beta of 0.97. The business has a 50-day moving average price of $44.64 and a two-hundred day moving average price of $42.23. Benchmark Electronics, Inc. has a 12-month low of $24.75 and a 12-month high of $52.57.

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

Benchmark Electronics Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were paid a $0.17 dividend. The ex-dividend date of this dividend was Monday, September 30th. This is an increase from Benchmark Electronics’s previous quarterly dividend of $0.17. This represents a $0.68 annualized dividend and a yield of 1.44%. Benchmark Electronics’s payout ratio is currently 39.53%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on BHE shares. Lake Street Capital upped their target price on Benchmark Electronics from $35.00 to $46.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. StockNews.com upgraded shares of Benchmark Electronics from a “hold” rating to a “buy” rating in a research report on Sunday, November 10th. Finally, Needham & Company LLC lifted their target price on shares of Benchmark Electronics from $45.00 to $48.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $42.33.

Insider Buying and Selling at Benchmark Electronics

In related news, CEO Jeff Benck sold 24,000 shares of the company’s stock in a transaction on 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 sale, the chief executive officer now directly owns 424,173 shares in the company, valued at $19,469,540.70. This represents a 5.36 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Jeffrey Stephen Mccreary sold 7,073 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $42.70, for a total transaction of $302,017.10. Following the completion of the sale, the director now directly owns 42,027 shares in the company, valued at approximately $1,794,552.90. This trade represents a 14.41 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.10% of the company’s stock.

About Benchmark Electronics

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.