Benchmark Electronics, Inc. (NYSE:BHE) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its position in shares of Benchmark Electronics, Inc. (NYSE:BHE - Free Report) by 22.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 351,473 shares of the technology company's stock after selling 100,792 shares during the period. Bank of New York Mellon Corp owned approximately 0.98% of Benchmark Electronics worth $15,957,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Pacer Advisors Inc. increased its holdings in Benchmark Electronics by 8.9% in the 3rd quarter. Pacer Advisors Inc. now owns 1,944,347 shares of the technology company's stock valued at $86,173,000 after purchasing an additional 159,659 shares in the last quarter. Wasatch Advisors LP raised its position in Benchmark Electronics by 19.5% in the third quarter. Wasatch Advisors LP now owns 820,493 shares of the technology company's stock valued at $36,364,000 after purchasing an additional 133,602 shares during the period. Wellington Management Group LLP raised its position in Benchmark Electronics by 34.5% in the third quarter. Wellington Management Group LLP now owns 428,181 shares of the technology company's stock valued at $18,977,000 after purchasing an additional 109,903 shares during the period. Segall Bryant & Hamill LLC purchased a new position in Benchmark Electronics in the third quarter valued at about $3,334,000. Finally, Barclays PLC raised its position in Benchmark Electronics by 128.8% in the third quarter. Barclays PLC now owns 86,024 shares of the technology company's stock valued at $3,814,000 after purchasing an additional 48,425 shares during the period. 92.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have commented on BHE shares. StockNews.com raised Benchmark Electronics from a "hold" rating to a "buy" rating in a research report on Tuesday, January 7th. Needham & Company LLC raised their price objective on Benchmark Electronics from $48.00 to $50.00 and gave the company a "buy" rating in a research report on Thursday, January 30th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $43.00.

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Insider Activity

In related news, CEO Jeff Benck sold 6,000 shares of Benchmark Electronics stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $45.31, for a total value of $271,860.00. Following the completion of the transaction, the chief executive officer now directly owns 418,173 shares in the company, valued at approximately $18,947,418.63. This trade represents a 1.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.10% of the company's stock.

Benchmark Electronics Stock Up 2.6 %

Shares of Benchmark Electronics stock opened at $39.17 on Wednesday. The business has a 50-day moving average of $43.12 and a 200-day moving average of $44.54. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.32 and a quick ratio of 1.46. The company has a market capitalization of $1.41 billion, a PE ratio of 22.64 and a beta of 0.97. Benchmark Electronics, Inc. has a 1-year low of $27.44 and a 1-year high of $52.57.

Benchmark Electronics (NYSE:BHE - Get Free Report) last announced its earnings results on Wednesday, January 29th. The technology company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.01). Benchmark Electronics had a net margin of 2.38% and a return on equity of 6.68%.

Benchmark Electronics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.68 annualized dividend and a dividend yield of 1.74%. Benchmark Electronics's dividend payout ratio is presently 39.31%.

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.

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