27,102 Shares in Benchmark Electronics, Inc. (NYSE:BHE) Acquired by Jennison Associates LLC

Jennison Associates LLC purchased a new stake in Benchmark Electronics, Inc. (NYSE:BHE) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 27,102 shares of the technology company’s stock, valued at approximately $1,201,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. UMB Bank n.a. grew its position 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 buying an additional 272 shares during the last quarter. Quest Partners LLC acquired a new position in Benchmark Electronics in the second quarter valued at $41,000. CWM LLC grew its holdings in shares of Benchmark Electronics by 81.9% during the second quarter. CWM LLC now owns 1,106 shares of the technology company’s stock worth $44,000 after purchasing an additional 498 shares during the last quarter. Quarry LP increased its position in shares of Benchmark Electronics by 172.5% during the second quarter. Quarry LP now owns 1,379 shares of the technology company’s stock worth $54,000 after purchasing an additional 873 shares in the last quarter. Finally, Innealta Capital LLC purchased a new stake in shares of Benchmark Electronics in the 2nd quarter valued at about $61,000. Institutional investors and hedge funds own 92.29% of the company’s stock.

Benchmark Electronics Stock Up 1.1 %

BHE opened at $48.17 on Friday. Benchmark Electronics, Inc. has a 52 week low of $24.75 and a 52 week high of $52.57. The business has a 50 day moving average price of $45.32 and a two-hundred day moving average price of $42.61. 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 $1.73 billion, a PE ratio of 28.01 and a beta of 0.97.

Benchmark Electronics (NYSE:BHE) last released 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. Benchmark Electronics had a return on equity of 6.81% and a net margin of 2.32%. The business had revenue of $658.00 million during the quarter, compared to analysts’ expectations of $650.00 million. During the same quarter in the prior year, the business earned $0.57 earnings per share. The company’s quarterly revenue was down 8.6% compared to the same quarter last year.

Benchmark Electronics Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were issued a $0.17 dividend. This is an increase from Benchmark Electronics’s previous quarterly dividend of $0.17. The ex-dividend date was Monday, September 30th. This represents a $0.68 annualized dividend and a dividend yield of 1.41%. Benchmark Electronics’s payout ratio is presently 39.53%.

Insider Transactions at Benchmark Electronics

In other Benchmark Electronics news, Director Jeffrey Stephen Mccreary sold 7,073 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $42.70, for a total value of $302,017.10. Following the completion of the transaction, the director now owns 42,027 shares in the company, valued at approximately $1,794,552.90. This represents a 14.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Rhonda R. Turner sold 6,000 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at approximately $2,254,617.18. This trade represents a 11.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 37,073 shares of company stock worth $1,685,497 over the last ninety days. 2.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

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