Prudential Financial Inc. increased its stake in shares of Benchmark Electronics, Inc. (NYSE:BHE - Free Report) by 46.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 99,065 shares of the technology company's stock after acquiring an additional 31,490 shares during the period. Prudential Financial Inc. owned about 0.28% of Benchmark Electronics worth $4,660,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Parkside Financial Bank & Trust purchased a new position in shares of Benchmark Electronics during the 4th quarter valued at approximately $50,000. KBC Group NV increased its holdings in Benchmark Electronics by 40.2% in the fourth quarter. KBC Group NV now owns 2,151 shares of the technology company's stock valued at $98,000 after buying an additional 617 shares in the last quarter. GAMMA Investing LLC increased its holdings in Benchmark Electronics by 12.9% in the fourth quarter. GAMMA Investing LLC now owns 2,547 shares of the technology company's stock valued at $116,000 after buying an additional 292 shares in the last quarter. Glenmede Trust Co. NA acquired a new position in shares of Benchmark Electronics in the third quarter worth about $238,000. Finally, Summit Global Investments purchased a new stake in shares of Benchmark Electronics during the 4th quarter worth about $242,000. 92.29% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions at Benchmark Electronics
In other news, CEO Jeff Benck sold 6,000 shares of the company's stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $38.82, for a total value of $232,920.00. Following the completion of the sale, the chief executive officer now directly owns 448,180 shares in the company, valued at $17,398,347.60. This represents a 1.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 2.10% of the company's stock.
Analyst Ratings Changes
BHE has been the subject of several recent analyst reports. StockNews.com upgraded Benchmark Electronics from a "hold" rating to a "buy" rating in a research note on Tuesday, January 7th. Needham & Company LLC boosted 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 equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Benchmark Electronics currently has an average rating of "Moderate Buy" and an average price target of $43.00.
Read Our Latest Report on BHE
Benchmark Electronics Price Performance
Shares of BHE stock traded down $1.11 on Friday, reaching $32.68. 453,892 shares of the company were exchanged, compared to its average volume of 326,146. Benchmark Electronics, Inc. has a 1 year low of $28.64 and a 1 year high of $52.57. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.46 and a current ratio of 2.32. The business has a 50-day moving average price of $40.26 and a 200 day moving average price of $44.19. The company has a market cap of $1.18 billion, a price-to-earnings ratio of 18.89 and a beta of 0.83.
Benchmark Electronics (NYSE:BHE - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The technology company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.01). Benchmark Electronics had a return on equity of 6.68% and a net margin of 2.38%.
Benchmark Electronics Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders 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 yield of 2.08%. Benchmark Electronics's dividend payout ratio (DPR) is presently 39.31%.
Benchmark Electronics Company Profile
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Free Report)
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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