Martingale Asset Management L P Has $3.22 Million Stock Holdings in Benchmark Electronics, Inc. (NYSE:BHE)

Martingale Asset Management L P boosted its holdings in shares of Benchmark Electronics, Inc. (NYSE:BHE - Free Report) by 29.9% in the third quarter, according to its most recent filing with the SEC. The firm owned 72,691 shares of the technology company's stock after acquiring an additional 16,718 shares during the period. Martingale Asset Management L P owned 0.20% of Benchmark Electronics worth $3,222,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in BHE. Victory Capital Management Inc. grew its stake in shares of Benchmark Electronics by 55.2% during the third quarter. Victory Capital Management Inc. now owns 39,439 shares of the technology company's stock worth $1,748,000 after purchasing an additional 14,020 shares during the period. 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 worth $17,606,000 after buying an additional 206,114 shares during the period. Pacer Advisors Inc. increased its stake in shares of 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 acquiring an additional 159,659 shares during the last quarter. Raymond James & Associates acquired a new stake in shares of Benchmark Electronics in the 2nd quarter valued at approximately $2,642,000. Finally, Algert Global LLC boosted its stake in Benchmark Electronics by 428.1% during the 3rd 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 last quarter. Institutional investors own 92.29% of the company's stock.

Wall Street Analyst Weigh In

BHE has been the subject of a number of recent analyst reports. StockNews.com upgraded shares of Benchmark Electronics from a "hold" rating to a "buy" rating in a research report on Tuesday. Needham & Company LLC lifted their price objective on Benchmark Electronics from $45.00 to $48.00 and gave the company a "buy" rating in a report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $42.33.

Benchmark Electronics Stock Up 0.9 %

Shares of BHE traded up $0.44 during midday trading on Friday, hitting $48.49. The stock had a trading volume of 97,217 shares, compared to its average volume of 305,117. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.36 and a quick ratio of 1.45. The firm has a market cap of $1.75 billion, a price-to-earnings ratio of 28.23 and a beta of 0.97. The company has a 50 day simple moving average of $45.80 and a two-hundred day simple moving average of $42.90. Benchmark Electronics, Inc. has a twelve month low of $24.75 and a twelve month high of $52.57.

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, beating analysts' consensus estimates of $0.54 by $0.03. Benchmark Electronics had a return on equity of 6.81% and a net margin of 2.32%. The business had revenue of $658.00 million for the quarter, compared to analyst estimates of $650.00 million. During the same quarter last year, the firm earned $0.57 EPS. Benchmark Electronics's revenue for the quarter was down 8.6% compared to the same quarter last year.

Benchmark Electronics Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were issued 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 yield of 1.40%. Benchmark Electronics's dividend payout ratio is presently 39.53%.

Insider Activity at Benchmark Electronics

In related news, CEO Jeff Benck sold 24,000 shares of the company's stock in a transaction dated 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 sale, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Rhonda R. Turner sold 6,000 shares of the firm's stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $46.98, for a total value of $281,880.00. Following the completion of the transaction, the senior vice president now owns 47,991 shares of the company's stock, 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. 2.10% of the stock is owned by insiders.

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.