Sei Investments Co. Cuts Position in Benchmark Electronics, Inc. (NYSE:BHE)

Sei Investments Co. trimmed its holdings in shares of Benchmark Electronics, Inc. (NYSE:BHE) by 13.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 93,987 shares of the technology company’s stock after selling 14,505 shares during the quarter. Sei Investments Co.’s holdings in Benchmark Electronics were worth $3,709,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of BHE. Empowered Funds LLC lifted its stake in Benchmark Electronics by 61.4% in the first quarter. Empowered Funds LLC now owns 75,682 shares of the technology company’s stock valued at $2,271,000 after purchasing an additional 28,784 shares during the last quarter. UniSuper Management Pty Ltd bought a new stake in shares of Benchmark Electronics during the first quarter valued at about $430,000. Wellington Management Group LLP grew its position in shares of Benchmark Electronics by 63.3% during the 4th quarter. Wellington Management Group LLP now owns 183,278 shares of the technology company’s stock valued at $5,066,000 after purchasing an additional 71,024 shares in the last quarter. First Trust Advisors LP raised its position in shares of Benchmark Electronics by 36.9% in the fourth quarter. First Trust Advisors LP now owns 902,475 shares of the technology company’s stock worth $24,944,000 after buying an additional 243,480 shares in the last quarter. Finally, Raymond James & Associates bought a new stake in shares of Benchmark Electronics during the 2nd quarter valued at about $2,642,000. Hedge funds and other institutional investors own 92.29% of the company’s stock.

Benchmark Electronics Trading Up 0.4 %

BHE opened at $43.21 on Thursday. Benchmark Electronics, Inc. has a one year low of $22.66 and a one year high of $48.58. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.35 and a quick ratio of 1.42. The business has a 50 day simple moving average of $42.20 and a two-hundred day simple moving average of $38.67. The firm has a market capitalization of $1.56 billion, a price-to-earnings ratio of 23.61 and a beta of 0.98.

Benchmark Electronics (NYSE:BHE) last announced its earnings results on Tuesday, July 30th. The technology company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.06. Benchmark Electronics had a net margin of 2.45% and a return on equity of 7.17%. The firm had revenue of $666.00 million for the quarter, compared to analyst estimates of $635.75 million. During the same quarter in the previous year, the firm posted $0.48 EPS. The company’s revenue for the quarter was down 9.2% compared to the same quarter last year.

Benchmark Electronics Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Monday, September 30th will be paid a dividend of $0.17 per share. This is an increase from Benchmark Electronics’s previous quarterly dividend of $0.17. The ex-dividend date is Monday, September 30th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.57%. Benchmark Electronics’s dividend payout ratio (DPR) is currently 37.16%.

Analyst Ratings Changes

BHE has been the subject of a number of research analyst reports. Needham & Company LLC lifted their price objective on shares of Benchmark Electronics from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. StockNews.com lowered Benchmark Electronics from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. Finally, Lake Street Capital increased their price objective on Benchmark Electronics from $35.00 to $46.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Benchmark Electronics currently has a consensus rating of “Hold” and a consensus target price of $41.33.

Insider Activity

In related news, Director Jeffrey Stephen Mccreary sold 7,073 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $42.70, for a total transaction of $302,017.10. Following the completion of the sale, the director now owns 42,027 shares of the company’s stock, valued at $1,794,552.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.10% of the company’s stock.

Benchmark Electronics 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.