Tributary Capital Management LLC Sells 70,013 Shares of Benchmark Electronics, Inc. (NYSE:BHE)

Tributary Capital Management LLC cut its stake in shares of Benchmark Electronics, Inc. (NYSE:BHE - Free Report) by 10.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 576,129 shares of the technology company's stock after selling 70,013 shares during the period. Benchmark Electronics accounts for approximately 2.0% of Tributary Capital Management LLC's portfolio, making the stock its 14th largest holding. Tributary Capital Management LLC owned approximately 1.60% of Benchmark Electronics worth $25,534,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of BHE. Wellington Management Group LLP lifted its holdings in shares of Benchmark Electronics by 63.3% in the fourth quarter. Wellington Management Group LLP now owns 183,278 shares of the technology company's stock worth $5,066,000 after buying an additional 71,024 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Benchmark Electronics by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 4,685,488 shares of the technology company's stock worth $129,507,000 after buying an additional 58,266 shares in the last quarter. Uncommon Cents Investing LLC lifted its holdings in shares of Benchmark Electronics by 4.5% in the first quarter. Uncommon Cents Investing LLC now owns 12,360 shares of the technology company's stock worth $371,000 after buying an additional 530 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Benchmark Electronics by 15.3% in the first quarter. BNP Paribas Financial Markets now owns 49,710 shares of the technology company's stock worth $1,492,000 after buying an additional 6,592 shares in the last quarter. Finally, Janney Montgomery Scott LLC lifted its holdings in shares of Benchmark Electronics by 13.8% in the first quarter. Janney Montgomery Scott LLC now owns 9,563 shares of the technology company's stock worth $287,000 after buying an additional 1,161 shares in the last quarter. 92.29% of the stock is owned by hedge funds and other institutional investors.

Benchmark Electronics Price Performance

NYSE BHE traded up $0.66 on Monday, reaching $45.17. 175,301 shares of the company's stock traded hands, compared to its average volume of 310,269. Benchmark Electronics, Inc. has a 12 month low of $23.62 and a 12 month high of $48.58. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.35 and a quick ratio of 1.42. The stock has a 50-day simple moving average of $42.86 and a 200 day simple moving average of $40.46. The stock has a market cap of $1.63 billion, a PE ratio of 24.68 and a beta of 0.98.

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

Benchmark Electronics Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were issued a $0.17 dividend. This is a boost from Benchmark Electronics's previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.68 annualized dividend and a dividend yield of 1.51%. Benchmark Electronics's dividend payout ratio (DPR) is currently 37.16%.

Insider Transactions at Benchmark Electronics

In other news, Director Jeffrey Stephen Mccreary sold 7,073 shares of the firm's stock in a transaction that occurred 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 owns 42,027 shares in the company, valued at approximately $1,794,552.90. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.10% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Lake Street Capital raised their target price on shares of Benchmark Electronics from $35.00 to $46.00 and gave the company a "buy" rating in a research note on Wednesday, July 31st. StockNews.com raised shares of Benchmark Electronics from a "hold" rating to a "buy" rating in a research note on Friday. Finally, Needham & Company LLC raised their target price on shares of Benchmark Electronics from $40.00 to $45.00 and gave the company a "buy" rating in a research note on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $41.33.

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.