Principal Financial Group Inc. Purchases 6,112 Shares of Benchmark Electronics, Inc. (NYSE:BHE)

Principal Financial Group Inc. increased its position in shares of Benchmark Electronics, Inc. (NYSE:BHE) by 3.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 190,444 shares of the technology company’s stock after buying an additional 6,112 shares during the quarter. Principal Financial Group Inc. owned 0.53% of Benchmark Electronics worth $8,646,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Pacer Advisors Inc. boosted its position in Benchmark Electronics by 8.9% during the 3rd quarter. Pacer Advisors Inc. now owns 1,944,347 shares of the technology company’s stock worth $86,173,000 after acquiring an additional 159,659 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of Benchmark Electronics by 0.6% in the third quarter. Franklin Resources Inc. now owns 1,897,568 shares of the technology company’s stock worth $84,081,000 after purchasing an additional 11,738 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Benchmark Electronics by 2.6% during the third quarter. Geode Capital Management LLC now owns 841,602 shares of the technology company’s stock worth $37,307,000 after purchasing an additional 21,355 shares during the last quarter. Wasatch Advisors LP grew its position in Benchmark Electronics by 19.5% in the third quarter. Wasatch Advisors LP now owns 820,493 shares of the technology company’s stock valued at $36,364,000 after purchasing an additional 133,602 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in Benchmark Electronics by 34.5% in the 3rd quarter. Wellington Management Group LLP now owns 428,181 shares of the technology company’s stock valued at $18,977,000 after buying an additional 109,903 shares during the last quarter. Institutional investors and hedge funds own 92.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Needham & Company LLC increased their price objective on shares of Benchmark Electronics from $48.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. StockNews.com raised Benchmark Electronics from a “hold” rating to a “buy” rating in a research report on Tuesday, January 7th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Benchmark Electronics presently has a consensus rating of “Moderate Buy” and an average price target of $43.00.

Benchmark Electronics Stock Performance

Shares of BHE stock opened at $40.04 on Friday. The company has a fifty day moving average price of $44.23 and a two-hundred day moving average price of $44.68. Benchmark Electronics, Inc. has a one year low of $27.44 and a one year high of $52.57. The stock has a market cap of $1.44 billion, a P/E ratio of 23.14 and a beta of 0.99. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.32 and a quick ratio of 1.46.

Benchmark Electronics (NYSE:BHE) last issued its earnings results on Wednesday, January 29th. The technology company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.01). Benchmark Electronics had a net margin of 2.38% and a return on equity of 6.68%.

Benchmark Electronics Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st were paid a dividend of $0.17 per share. The ex-dividend date was Tuesday, December 31st. This represents a $0.68 annualized dividend and a dividend yield of 1.70%. Benchmark Electronics’s dividend payout ratio is currently 39.31%.

Insider Buying and Selling

In other news, CEO Jeff Benck sold 6,000 shares of the firm’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $45.31, for a total transaction of $271,860.00. Following the completion of the sale, the chief executive officer now owns 418,173 shares in the company, valued at approximately $18,947,418.63. This trade represents a 1.41 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 2.10% of the stock is owned by insiders.

About Benchmark Electronics

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.