Pacer Advisors Inc. Grows Stock Position in Benchmark Electronics, Inc. (NYSE:BHE)

Pacer Advisors Inc. raised its holdings in Benchmark Electronics, Inc. (NYSE:BHE) by 8.9% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,944,347 shares of the technology company’s stock after acquiring an additional 159,659 shares during the quarter. Pacer Advisors Inc. owned approximately 5.40% of Benchmark Electronics worth $86,173,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in BHE. Janney Montgomery Scott LLC raised its holdings in shares of Benchmark Electronics by 13.8% in the first quarter. Janney Montgomery Scott LLC now owns 9,563 shares of the technology company’s stock worth $287,000 after buying an additional 1,161 shares during the last quarter. SG Americas Securities LLC purchased a new position in Benchmark Electronics during the first quarter worth approximately $136,000. ProShare Advisors LLC purchased a new position in Benchmark Electronics during the first quarter worth about $214,000. State Board of Administration of Florida Retirement System grew its position in Benchmark Electronics by 31.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 18,313 shares of the technology company’s stock worth $550,000 after acquiring an additional 4,368 shares during the period. Finally, Vanguard Group Inc. lifted its position in Benchmark Electronics by 3.4% in the first quarter. Vanguard Group Inc. now owns 4,845,204 shares of the technology company’s stock valued at $145,405,000 after buying an additional 159,716 shares during the last quarter. 92.29% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Rhonda R. Turner sold 6,000 shares of the business’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 in the company, valued at approximately $2,254,617.18. The trade was a 11.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jeffrey Stephen Mccreary sold 7,073 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $42.70, for a total value of $302,017.10. Following the sale, the director now owns 42,027 shares of the company’s stock, valued at approximately $1,794,552.90. The trade was a 14.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 37,073 shares of company stock worth $1,685,497 over the last 90 days. 2.10% of the stock is currently owned by company insiders.

Benchmark Electronics Price Performance

BHE opened at $47.65 on Friday. Benchmark Electronics, Inc. has a 52-week low of $24.75 and a 52-week high of $52.57. The company has a market cap of $1.72 billion, a P/E ratio of 27.38 and a beta of 0.97. 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 50 day moving average of $45.07 and a two-hundred day moving average of $42.50.

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

Benchmark Electronics Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were issued a $0.17 dividend. The ex-dividend date of this dividend was Monday, September 30th. This is a boost from Benchmark Electronics’s previous quarterly dividend of $0.17. This represents a $0.68 annualized dividend and a dividend yield of 1.43%. Benchmark Electronics’s dividend payout ratio (DPR) is 39.53%.

Wall Street Analysts Forecast Growth

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

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.