First Eagle Investment Management LLC Sells 23,150 Shares of Benchmark Electronics, Inc. (NYSE:BHE)

First Eagle Investment Management LLC decreased its position in shares of Benchmark Electronics, Inc. (NYSE:BHE - Free Report) by 7.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 277,579 shares of the technology company's stock after selling 23,150 shares during the period. First Eagle Investment Management LLC owned 0.77% of Benchmark Electronics worth $10,953,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. American Century Companies Inc. grew its stake in shares of Benchmark Electronics by 176.6% during the 2nd quarter. American Century Companies Inc. now owns 615,036 shares of the technology company's stock valued at $24,269,000 after buying an additional 392,699 shares during the period. Norges Bank purchased a new stake in Benchmark Electronics during the fourth quarter valued at about $7,012,000. First Trust Advisors LP grew its position in Benchmark Electronics by 36.9% during the fourth quarter. First Trust Advisors LP now owns 902,475 shares of the technology company's stock valued at $24,944,000 after acquiring an additional 243,480 shares during the period. Circumference Group LLC acquired a new stake in Benchmark Electronics during the fourth quarter worth about $6,558,000. Finally, Vanguard Group Inc. raised its holdings in shares of 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 period. Institutional investors and hedge funds own 92.29% of the company's stock.

Benchmark Electronics Stock Performance

BHE stock traded down $0.57 during trading on Friday, reaching $43.96. 1,110,075 shares of the company's stock were exchanged, compared to its average volume of 324,433. Benchmark Electronics, Inc. has a 1-year low of $22.66 and a 1-year high of $48.58. The company's fifty day moving average price is $41.85 and its 200-day moving average price is $37.89. The company has a quick ratio of 1.42, a current ratio of 2.35 and a debt-to-equity ratio of 0.26. The firm has a market cap of $1.58 billion, a PE ratio of 24.02 and a beta of 0.98.

Benchmark Electronics (NYSE:BHE - Get Free Report) last announced its earnings results on Tuesday, July 30th. The technology company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.06. Benchmark Electronics had a return on equity of 7.17% and a net margin of 2.45%. The business had revenue of $666.00 million during the quarter, compared to analysts' expectations of $635.75 million. During the same quarter last year, the business posted $0.48 earnings per share. The company's quarterly revenue was down 9.2% on a year-over-year basis.

Benchmark Electronics Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Monday, September 30th will be paid a $0.17 dividend. This is a positive change from Benchmark Electronics's previous quarterly dividend of $0.17. The ex-dividend date is Monday, September 30th. This represents a $0.68 dividend on an annualized basis and a yield of 1.55%. Benchmark Electronics's dividend payout ratio (DPR) is currently 37.16%.

Analyst Ratings Changes

BHE has been the topic of several analyst reports. Lake Street Capital upped their price objective on shares of Benchmark Electronics from $35.00 to $46.00 and gave the company a "buy" rating in a research report on Wednesday, July 31st. Needham & Company LLC raised their price objective on Benchmark Electronics from $40.00 to $45.00 and gave the company a "buy" rating in a research note on Wednesday, July 31st. Finally, StockNews.com downgraded Benchmark Electronics from a "buy" rating to a "hold" rating in a report on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $41.33.

Insider Activity at Benchmark Electronics

In other news, Director Jeffrey Stephen Mccreary sold 7,073 shares of the company's stock in a transaction on Monday, August 26th. The shares were sold at an average price of $42.70, for a total value of $302,017.10. Following the transaction, the director now directly owns 42,027 shares of the company's stock, valued at $1,794,552.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 2.10% of the stock is owned by insiders.

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.