Benchmark Electronics, Inc. (NYSE:BHE) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lowered its stake in shares of Benchmark Electronics, Inc. (NYSE:BHE) by 5.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,354 shares of the technology company’s stock after selling 1,569 shares during the period. Thrivent Financial for Lutherans owned 0.08% of Benchmark Electronics worth $1,257,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Victory Capital Management Inc. boosted its stake in shares of Benchmark Electronics by 55.2% during the 3rd quarter. Victory Capital Management Inc. now owns 39,439 shares of the technology company’s stock worth $1,748,000 after purchasing an additional 14,020 shares during the last quarter. Millennium Management LLC grew its stake in Benchmark Electronics by 85.9% in the 2nd quarter. Millennium Management LLC now owns 446,176 shares of the technology company’s stock worth $17,606,000 after acquiring an additional 206,114 shares during the period. Raymond James & Associates acquired a new position in Benchmark Electronics in the 2nd quarter valued at $2,642,000. Versor Investments LP purchased a new position in shares of Benchmark Electronics during the 2nd quarter worth $545,000. Finally, Squarepoint Ops LLC purchased a new position in shares of Benchmark Electronics during the 2nd quarter worth $2,459,000. Hedge funds and other institutional investors own 92.29% of the company’s stock.

Insider Activity

In other 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 transaction of $281,880.00. Following the sale, the senior vice president now owns 47,991 shares in the company, valued at $2,254,617.18. This trade represents a 11.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jeff Benck sold 24,000 shares of the business’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $45.90, for a total transaction of $1,101,600.00. Following the transaction, the chief executive officer now directly owns 424,173 shares in the company, valued at approximately $19,469,540.70. The trade was a 5.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.10% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. StockNews.com upgraded Benchmark Electronics from a “hold” rating to a “buy” rating in a research note on Tuesday, November 26th. Needham & Company LLC lifted their price target on Benchmark Electronics from $45.00 to $48.00 and gave the company a “buy” rating in a report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Benchmark Electronics currently has an average rating of “Moderate Buy” and an average price target of $42.33.

Benchmark Electronics Trading Up 0.9 %

BHE stock opened at $48.49 on Monday. The company has a quick ratio of 1.45, a current ratio of 2.36 and a debt-to-equity ratio of 0.25. The company has a market cap of $1.75 billion, a price-to-earnings ratio of 28.19 and a beta of 0.97. The business has a fifty day simple moving average of $45.80 and a 200-day simple moving average of $42.93. Benchmark Electronics, Inc. has a 52 week low of $24.75 and a 52 week high of $52.57.

Benchmark Electronics (NYSE:BHE) last announced its quarterly earnings results on Wednesday, October 30th. The technology company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.54 by $0.03. The company had revenue of $658.00 million during the quarter, compared to analyst estimates of $650.00 million. Benchmark Electronics had a return on equity of 6.81% and a net margin of 2.32%. The firm’s revenue was down 8.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.57 earnings per share.

Benchmark Electronics Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were given a $0.17 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.68 annualized dividend and a dividend yield of 1.40%. This is a positive change from Benchmark Electronics’s previous quarterly dividend of $0.17. Benchmark Electronics’s dividend payout ratio is presently 39.53%.

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.