Vestcor Inc decreased its position in shares of Benchmark Electronics, Inc. (NYSE:BHE - Free Report) by 86.2% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 2,084 shares of the technology company's stock after selling 12,970 shares during the period. Vestcor Inc's holdings in Benchmark Electronics were worth $95,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Parkside Financial Bank & Trust purchased a new position in shares of Benchmark Electronics during the 4th quarter worth approximately $50,000. KBC Group NV boosted its position in shares of Benchmark Electronics by 125.3% in the 3rd quarter. KBC Group NV now owns 1,534 shares of the technology company's stock worth $68,000 after purchasing an additional 853 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Benchmark Electronics by 12.9% in the 4th quarter. GAMMA Investing LLC now owns 2,547 shares of the technology company's stock worth $116,000 after purchasing an additional 292 shares in the last quarter. Glenmede Trust Co. NA bought a new stake in shares of Benchmark Electronics in the 3rd quarter worth approximately $238,000. Finally, Highland Capital Management LLC boosted its position in shares of Benchmark Electronics by 6.4% in the 4th quarter. Highland Capital Management LLC now owns 5,620 shares of the technology company's stock worth $255,000 after purchasing an additional 337 shares in the last quarter. Hedge funds and other institutional investors own 92.29% of the company's stock.
Wall Street Analysts Forecast Growth
A number of brokerages have recently commented on BHE. StockNews.com raised Benchmark Electronics from a "hold" rating to a "buy" rating in a research report on Tuesday, January 7th. Needham & Company LLC boosted their price target on Benchmark Electronics from $48.00 to $50.00 and gave the stock a "buy" rating in a research report on Thursday, January 30th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $43.00.
Read Our Latest Stock Report on Benchmark Electronics
Insider Transactions at Benchmark Electronics
In other news, CEO Jeff Benck sold 6,000 shares of the firm's stock in a transaction 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 transaction, the chief executive officer now directly owns 448,180 shares in the company, valued at $17,398,347.60. This trade represents a 1.32 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 2.10% of the company's stock.
Benchmark Electronics Stock Down 1.9 %
BHE traded down $0.77 during trading on Friday, hitting $40.21. 4,446,030 shares of the company's stock traded hands, compared to its average volume of 295,387. The stock has a market capitalization of $1.45 billion, a price-to-earnings ratio of 23.25 and a beta of 0.97. The company's 50 day simple moving average is $42.16 and its two-hundred day simple moving average is $44.36. Benchmark Electronics, Inc. has a 12-month low of $28.64 and a 12-month high of $52.57. The company has a current ratio of 2.32, a quick ratio of 1.46 and a debt-to-equity ratio of 0.24.
Benchmark Electronics (NYSE:BHE - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The technology company reported $0.55 earnings per share 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 declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Monday, March 31st will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.69%. The ex-dividend date is Monday, March 31st. Benchmark Electronics's dividend payout ratio is currently 39.31%.
Benchmark Electronics Profile
(
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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