Quest Partners LLC Acquires Shares of 1,044 Benchmark Electronics, Inc. (NYSE:BHE)

Quest Partners LLC bought a new position in Benchmark Electronics, Inc. (NYSE:BHE) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,044 shares of the technology company’s stock, valued at approximately $41,000.

Several other hedge funds and other institutional investors also recently modified their holdings of BHE. Rhumbline Advisers grew its stake in Benchmark Electronics by 0.6% in the 2nd quarter. Rhumbline Advisers now owns 115,465 shares of the technology company’s stock valued at $4,556,000 after buying an additional 692 shares in the last quarter. Versor Investments LP purchased a new position in shares of Benchmark Electronics in the second quarter valued at $545,000. Natixis Advisors LLC raised its stake in shares of Benchmark Electronics by 8.7% during the 2nd quarter. Natixis Advisors LLC now owns 25,155 shares of the technology company’s stock valued at $993,000 after purchasing an additional 2,015 shares during the period. nVerses Capital LLC purchased a new stake in Benchmark Electronics during the 2nd quarter worth about $71,000. Finally, Hantz Financial Services Inc. bought a new position in Benchmark Electronics in the 2nd quarter worth about $1,556,000. Institutional investors own 92.29% of the company’s stock.

Benchmark Electronics Stock Performance

Shares of BHE opened at $43.56 on Thursday. The company has a current ratio of 2.35, a quick ratio of 1.42 and a debt-to-equity ratio of 0.26. The stock has a 50-day moving average price of $41.69 and a 200-day moving average price of $37.75. The company has a market cap of $1.57 billion, a PE ratio of 23.80 and a beta of 0.98. Benchmark Electronics, Inc. has a 12-month low of $22.66 and a 12-month high of $48.58.

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

Benchmark Electronics Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Monday, September 30th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend is Monday, September 30th. This is a boost from Benchmark Electronics’s previous quarterly dividend of $0.17. Benchmark Electronics’s dividend payout ratio is currently 37.16%.

Insider Buying and Selling at Benchmark Electronics

In other news, Director Jeffrey Stephen Mccreary sold 7,073 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $42.70, for a total transaction of $302,017.10. Following the transaction, the director now directly owns 42,027 shares in the company, valued at approximately $1,794,552.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.10% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Lake Street Capital upped their price target on Benchmark Electronics from $35.00 to $46.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Needham & Company LLC upped their target price 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. Finally, StockNews.com downgraded shares of Benchmark Electronics from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Benchmark Electronics presently has an average rating of “Hold” and a consensus target price of $41.33.

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.