Rhumbline Advisers Has $4.56 Million Stake in Benchmark Electronics, Inc. (NYSE:BHE)

Rhumbline Advisers increased its stake in shares of Benchmark Electronics, Inc. (NYSE:BHE) by 0.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 115,465 shares of the technology company’s stock after buying an additional 692 shares during the quarter. Rhumbline Advisers owned about 0.32% of Benchmark Electronics worth $4,556,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in BHE. Miller Howard Investments Inc. NY boosted its position in shares of Benchmark Electronics by 1.8% during the 2nd quarter. Miller Howard Investments Inc. NY now owns 15,244 shares of the technology company’s stock worth $602,000 after acquiring an additional 263 shares in the last quarter. UMB Bank n.a. boosted its holdings in shares of Benchmark Electronics by 65.7% in the 2nd quarter. UMB Bank n.a. now owns 686 shares of the technology company’s stock valued at $27,000 after purchasing an additional 272 shares in the last quarter. Louisiana State Employees Retirement System increased its stake in shares of Benchmark Electronics by 2.3% in the 2nd quarter. Louisiana State Employees Retirement System now owns 18,100 shares of the technology company’s stock valued at $714,000 after purchasing an additional 400 shares during the last quarter. Texas Permanent School Fund Corp raised its holdings in shares of Benchmark Electronics by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 31,229 shares of the technology company’s stock worth $937,000 after buying an additional 405 shares in the last quarter. Finally, CWM LLC lifted its position in shares of Benchmark Electronics by 81.9% during the 2nd quarter. CWM LLC now owns 1,106 shares of the technology company’s stock worth $44,000 after buying an additional 498 shares during the last quarter. Institutional investors own 92.29% of the company’s stock.

Insider Buying and Selling

In other Benchmark Electronics news, Director Jeffrey Stephen Mccreary sold 7,073 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $42.70, for a total transaction of $302,017.10. Following the completion of the sale, the director now owns 42,027 shares of the company’s stock, valued at approximately $1,794,552.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.10% of the stock is owned by insiders.

Benchmark Electronics Stock Up 3.1 %

Shares of NYSE BHE opened at $42.32 on Monday. Benchmark Electronics, Inc. has a 1 year low of $22.66 and a 1 year 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 firm has a market cap of $1.53 billion, a PE ratio of 23.13 and a beta of 0.98. The company has a 50 day simple moving average of $41.46 and a 200 day simple moving average of $37.54.

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

Benchmark Electronics Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Monday, September 30th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.61%. This is an increase from Benchmark Electronics’s previous quarterly dividend of $0.17. The ex-dividend date is Monday, September 30th. Benchmark Electronics’s dividend payout ratio (DPR) is 37.16%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on BHE. Needham & Company LLC boosted their target price on Benchmark Electronics from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. StockNews.com cut shares of Benchmark Electronics from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. Finally, Lake Street Capital increased their price objective 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. 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 presently has a consensus rating of “Hold” 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.