Insider Selling: Benchmark Electronics, Inc. (NYSE:BHE) CEO Sells 24,000 Shares of Stock

Benchmark Electronics, Inc. (NYSE:BHE - Get Free Report) CEO Jeff Benck sold 24,000 shares of the firm's stock in a transaction 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 in the company, valued at approximately $19,469,540.70. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Benchmark Electronics Stock Performance

NYSE:BHE traded up $0.01 during trading hours on Thursday, reaching $51.42. 356,760 shares of the company's stock were exchanged, compared to its average volume of 241,244. Benchmark Electronics, Inc. has a 1-year low of $23.62 and a 1-year high of $52.49. 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 capitalization of $1.85 billion, a price-to-earnings ratio of 29.90 and a beta of 0.97. The company has a 50-day moving average of $43.65 and a 200 day moving average of $41.37.

Benchmark Electronics (NYSE:BHE - Get Free Report) last announced its earnings results on Wednesday, October 30th. The technology company reported $0.57 earnings per share 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 the consensus estimate of $650.00 million. Benchmark Electronics had a net margin of 2.32% and a return on equity of 6.81%. The business's quarterly revenue was down 8.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.57 earnings per share.

Benchmark Electronics Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.32%. 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. Benchmark Electronics's dividend payout ratio is 39.53%.

Wall Street Analysts Forecast Growth

BHE has been the topic of a number of research analyst reports. StockNews.com cut shares of Benchmark Electronics from a "buy" rating to a "hold" rating in a report on Saturday, November 2nd. Lake Street Capital lifted their price target on shares of Benchmark Electronics from $35.00 to $46.00 and gave the stock a "buy" rating in a research note on Wednesday, July 31st. Finally, Needham & Company LLC upped their price objective on shares of Benchmark Electronics from $45.00 to $48.00 and gave the company a "buy" rating in a research note on Friday, November 1st. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $42.33.

Hedge Funds Weigh In On Benchmark Electronics

A number of hedge funds and other institutional investors have recently bought and sold shares of BHE. BNP Paribas Financial Markets lifted its stake in shares of Benchmark Electronics by 15.3% in the 1st quarter. BNP Paribas Financial Markets now owns 49,710 shares of the technology company's stock worth $1,492,000 after acquiring an additional 6,592 shares during the period. Janney Montgomery Scott LLC lifted its position in Benchmark Electronics by 13.8% in the first quarter. Janney Montgomery Scott LLC now owns 9,563 shares of the technology company's stock valued at $287,000 after purchasing an additional 1,161 shares during the period. Texas Permanent School Fund Corp boosted its holdings in Benchmark Electronics by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 31,229 shares of the technology company's stock valued at $937,000 after purchasing an additional 405 shares in the last quarter. Envestnet Portfolio Solutions Inc. acquired a new position in Benchmark Electronics during the 1st quarter worth approximately $224,000. Finally, Empowered Funds LLC raised its stake in shares of Benchmark Electronics by 61.4% during the 1st quarter. Empowered Funds LLC now owns 75,682 shares of the technology company's stock worth $2,271,000 after buying an additional 28,784 shares in the last quarter. 92.29% of the stock is currently owned by hedge funds and other institutional investors.

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.