Connor Clark & Lunn Investment Management Ltd. Lowers Stock Position in Benchmark Electronics, Inc. (NYSE:BHE)

Connor Clark & Lunn Investment Management Ltd. lowered its position in shares of Benchmark Electronics, Inc. (NYSE:BHE - Free Report) by 45.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 43,476 shares of the technology company's stock after selling 35,568 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.12% of Benchmark Electronics worth $1,927,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in BHE. Vanguard Group Inc. increased its position in Benchmark Electronics by 3.4% in the 1st quarter. Vanguard Group Inc. now owns 4,845,204 shares of the technology company's stock worth $145,405,000 after purchasing an additional 159,716 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Benchmark Electronics by 0.4% in the second quarter. Dimensional Fund Advisors LP now owns 3,012,717 shares of the technology company's stock valued at $118,881,000 after acquiring an additional 12,112 shares during the last quarter. Pacer Advisors Inc. bought a new position in shares of Benchmark Electronics during the second quarter worth about $70,424,000. Tributary Capital Management LLC increased its holdings in Benchmark Electronics by 0.3% during the 2nd quarter. Tributary Capital Management LLC now owns 646,142 shares of the technology company's stock worth $25,497,000 after purchasing an additional 1,875 shares in the last quarter. Finally, American Century Companies Inc. raised its position in shares of Benchmark Electronics by 176.6% in the second quarter. American Century Companies Inc. now owns 615,036 shares of the technology company's stock worth $24,269,000 after buying an additional 392,699 shares in the last quarter. 92.29% of the stock is currently owned by institutional investors and hedge funds.

Benchmark Electronics Trading Down 0.4 %

Shares of NYSE BHE traded down $0.19 during trading on Tuesday, hitting $48.28. 202,234 shares of the company were exchanged, compared to its average volume of 306,773. The company has a fifty day moving average price of $45.45 and a 200-day moving average price of $42.71. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.45 and a current ratio of 2.36. Benchmark Electronics, Inc. has a 12-month low of $24.75 and a 12-month high of $52.57. The firm has a market capitalization of $1.74 billion, a PE ratio of 28.21 and a beta of 0.97.

Benchmark Electronics (NYSE:BHE - Get Free Report) last posted its quarterly earnings data 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. Benchmark Electronics had a net margin of 2.32% and a return on equity of 6.81%. The business had revenue of $658.00 million during the quarter, compared to the consensus estimate of $650.00 million. During the same quarter in the prior year, the company posted $0.57 earnings per share. The company's quarterly revenue was down 8.6% compared to the same quarter last year.

Benchmark Electronics Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were given a dividend of $0.17 per share. This is a boost from Benchmark Electronics's previous quarterly dividend of $0.17. The ex-dividend date was Monday, September 30th. This represents a $0.68 annualized dividend and a dividend yield of 1.41%. Benchmark Electronics's payout ratio is presently 39.53%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Benchmark Electronics

In other Benchmark Electronics news, CEO Jeff Benck sold 24,000 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $45.90, for a total transaction of $1,101,600.00. Following the transaction, the chief executive officer now owns 424,173 shares in the company, valued at approximately $19,469,540.70. This represents a 5.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Rhonda R. Turner sold 6,000 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $46.98, for a total transaction of $281,880.00. Following the completion of the sale, the senior vice president now directly owns 47,991 shares in the company, valued at approximately $2,254,617.18. This represents a 11.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.