Wellington Management Group LLP Boosts Stake in Benchmark Electronics, Inc. (NYSE:BHE)

Wellington Management Group LLP grew its position in Benchmark Electronics, Inc. (NYSE:BHE - Free Report) by 34.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 428,181 shares of the technology company's stock after acquiring an additional 109,903 shares during the period. Wellington Management Group LLP owned about 1.19% of Benchmark Electronics worth $18,977,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Victory Capital Management Inc. boosted its holdings in Benchmark Electronics by 55.2% in the 3rd quarter. Victory Capital Management Inc. now owns 39,439 shares of the technology company's stock valued at $1,748,000 after purchasing an additional 14,020 shares in the last quarter. FMR LLC boosted its stake in shares of Benchmark Electronics by 27.3% in the third quarter. FMR LLC now owns 120,126 shares of the technology company's stock valued at $5,324,000 after buying an additional 25,769 shares in the last quarter. Algert Global LLC grew its holdings in Benchmark Electronics by 428.1% during the third quarter. Algert Global LLC now owns 32,887 shares of the technology company's stock worth $1,458,000 after acquiring an additional 26,660 shares during the period. Millennium Management LLC raised its position in Benchmark Electronics by 85.9% in the second quarter. Millennium Management LLC now owns 446,176 shares of the technology company's stock worth $17,606,000 after acquiring an additional 206,114 shares in the last quarter. Finally, Pacer Advisors Inc. lifted its holdings in Benchmark Electronics by 8.9% in the third quarter. Pacer Advisors Inc. now owns 1,944,347 shares of the technology company's stock valued at $86,173,000 after acquiring an additional 159,659 shares during the period. 92.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Benchmark Electronics news, CEO Jeff Benck sold 24,000 shares of Benchmark Electronics stock in a transaction dated Tuesday, November 5th. The stock was 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 $19,469,540.70. The trade was a 5.36 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Rhonda R. Turner sold 6,000 shares of the stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $46.98, for a total transaction of $281,880.00. Following the transaction, the senior vice president now owns 47,991 shares in the company, valued at approximately $2,254,617.18. The trade was a 11.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.10% of the company's stock.

Benchmark Electronics Price Performance

Shares of BHE stock traded down $0.24 during mid-day trading on Friday, reaching $48.33. The stock had a trading volume of 234,057 shares, compared to its average volume of 300,963. The company has a market cap of $1.74 billion, a P/E ratio of 28.10 and a beta of 0.99. The company has a current ratio of 2.36, a quick ratio of 1.45 and a debt-to-equity ratio of 0.25. Benchmark Electronics, Inc. has a 12-month low of $25.35 and a 12-month high of $52.57. The business has a 50-day simple moving average of $46.70 and a 200 day simple moving average of $43.34.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.54 by $0.03. The company had revenue of $658.00 million during the quarter, compared to analysts' expectations of $650.00 million. Benchmark Electronics had a net margin of 2.32% and a return on equity of 6.81%. The firm's quarterly revenue was down 8.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.57 earnings per share.

Benchmark Electronics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.17 per share. The ex-dividend date is Tuesday, December 31st. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.41%. Benchmark Electronics's dividend payout ratio (DPR) is presently 39.53%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on BHE. Needham & Company LLC upped their price target 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 lowered shares of Benchmark Electronics from a "buy" rating to a "hold" rating in a research report on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Benchmark Electronics presently has a consensus rating of "Hold" and a consensus target price of $42.33.

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.