Pacer Advisors Inc. Invests $70.42 Million in Benchmark Electronics, Inc. (NYSE:BHE)

Pacer Advisors Inc. acquired a new position in shares of Benchmark Electronics, Inc. (NYSE:BHE) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,784,688 shares of the technology company’s stock, valued at approximately $70,424,000. Pacer Advisors Inc. owned approximately 4.95% of Benchmark Electronics as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. UMB Bank n.a. boosted its holdings in Benchmark Electronics by 65.7% in the second 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. Rise Advisors LLC acquired a new position in Benchmark Electronics in the first quarter valued at approximately $27,000. Quest Partners LLC acquired a new position in Benchmark Electronics in the second quarter valued at approximately $41,000. CWM LLC boosted its holdings in Benchmark Electronics by 81.9% in the second quarter. CWM LLC now owns 1,106 shares of the technology company’s stock valued at $44,000 after purchasing an additional 498 shares in the last quarter. Finally, Parallel Advisors LLC boosted its holdings in Benchmark Electronics by 97.9% in the fourth quarter. Parallel Advisors LLC now owns 1,144 shares of the technology company’s stock valued at $32,000 after purchasing an additional 566 shares in the last quarter. 92.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Needham & Company LLC upped their price target on Benchmark Electronics from $40.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Lake Street Capital upped their price target on Benchmark Electronics from $35.00 to $46.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, StockNews.com cut Benchmark Electronics from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $41.33.

Benchmark Electronics Price Performance

Shares of NYSE BHE opened at $43.98 on Friday. The company has a current ratio of 2.35, a quick ratio of 1.42 and a debt-to-equity ratio of 0.26. Benchmark Electronics, Inc. has a twelve month low of $22.66 and a twelve month high of $48.58. The stock has a 50 day moving average of $41.85 and a two-hundred day moving average of $37.94. The stock has a market cap of $1.59 billion, a P/E ratio of 24.03 and a beta of 0.98.

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

Benchmark Electronics Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.55%. The ex-dividend date is Monday, September 30th. This is a boost from Benchmark Electronics’s previous quarterly dividend of $0.17. Benchmark Electronics’s dividend payout ratio is 37.16%.

Insider Transactions at Benchmark Electronics

In other news, Director Jeffrey Stephen Mccreary sold 7,073 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was 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 in the company, valued at $1,794,552.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.10% of the company’s stock.

Benchmark Electronics 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.