KBC Group NV Increases Position in Benchmark Electronics, Inc. (NYSE:BHE)

KBC Group NV lifted its holdings in Benchmark Electronics, Inc. (NYSE:BHE) by 125.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,534 shares of the technology company’s stock after buying an additional 853 shares during the quarter. KBC Group NV’s holdings in Benchmark Electronics were worth $68,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. UniSuper Management Pty Ltd purchased a new stake in Benchmark Electronics in the 1st quarter valued at about $430,000. Millennium Management LLC boosted its holdings in shares of Benchmark Electronics by 85.9% in the second quarter. Millennium Management LLC now owns 446,176 shares of the technology company’s stock valued at $17,606,000 after purchasing an additional 206,114 shares during the period. Raymond James & Associates bought a new position in Benchmark Electronics in the second quarter worth approximately $2,642,000. Versor Investments LP purchased a new position in Benchmark Electronics during the 2nd quarter worth $545,000. Finally, Squarepoint Ops LLC purchased a new position in Benchmark Electronics during the 2nd quarter worth $2,459,000. 92.29% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, SVP Rhonda R. Turner sold 6,000 shares of Benchmark Electronics stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $46.98, for a total value of $281,880.00. Following the completion of the sale, the senior vice president now directly owns 47,991 shares in the company, valued at $2,254,617.18. This trade represents a 11.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jeffrey Stephen Mccreary sold 7,073 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 42,027 shares of the company’s stock, valued at approximately $1,794,552.90. This represents a 14.41 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,073 shares of company stock valued at $1,685,497. 2.10% of the stock is currently owned by insiders.

Benchmark Electronics Trading Up 1.1 %

BHE opened at $48.17 on Friday. The company has a current ratio of 2.36, a quick ratio of 1.45 and a debt-to-equity ratio of 0.25. The firm has a market cap of $1.73 billion, a price-to-earnings ratio of 28.01 and a beta of 0.97. Benchmark Electronics, Inc. has a 12 month low of $24.75 and a 12 month high of $52.57. The stock has a fifty day moving average price of $45.32 and a 200-day moving average price of $42.61.

Benchmark Electronics (NYSE:BHE) last announced its earnings results on Wednesday, October 30th. The technology company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.03. Benchmark Electronics had a net margin of 2.32% and a return on equity of 6.81%. The business had revenue of $658.00 million during the quarter, compared to the consensus estimate of $650.00 million. During the same period in the previous year, the company posted $0.57 earnings per share. The firm’s revenue was down 8.6% 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. Shareholders of record on Monday, September 30th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.41%. This is an increase from Benchmark Electronics’s previous quarterly dividend of $0.17. The ex-dividend date was Monday, September 30th. Benchmark Electronics’s dividend payout ratio (DPR) is 39.53%.

Wall Street Analyst Weigh In

BHE has been the topic of a number of recent research reports. Lake Street Capital increased their price target on Benchmark Electronics from $35.00 to $46.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Needham & Company LLC increased their target price on shares of Benchmark Electronics from $45.00 to $48.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, StockNews.com lowered shares of Benchmark Electronics from a “buy” rating to a “hold” rating in a report on Monday, November 18th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $42.33.

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.