Allianz Asset Management GmbH increased its position in shares of Benchmark Electronics, Inc. (NYSE:BHE – Free Report) by 0.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 424,686 shares of the technology company’s stock after purchasing an additional 1,281 shares during the period. Allianz Asset Management GmbH owned 1.18% of Benchmark Electronics worth $16,491,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of BHE. New Age Alpha Advisors LLC acquired a new stake in Benchmark Electronics during the first quarter worth about $56,000. GAMMA Investing LLC increased its position in Benchmark Electronics by 58.3% during the second quarter. GAMMA Investing LLC now owns 3,609 shares of the technology company’s stock worth $140,000 after purchasing an additional 1,329 shares during the last quarter. Caxton Associates LLP acquired a new stake in Benchmark Electronics during the first quarter worth about $202,000. Linscomb Wealth Inc. acquired a new stake in Benchmark Electronics during the first quarter worth about $214,000. Finally, Inspire Investing LLC increased its position in Benchmark Electronics by 10.8% during the second quarter. Inspire Investing LLC now owns 9,992 shares of the technology company’s stock worth $388,000 after purchasing an additional 971 shares during the last quarter. 92.29% of the stock is currently owned by institutional investors and hedge funds.
Benchmark Electronics Trading Up 2.1%
NYSE BHE opened at $42.82 on Tuesday. The firm has a 50 day simple moving average of $39.50 and a 200-day simple moving average of $38.18. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.46 and a current ratio of 2.36. Benchmark Electronics, Inc. has a one year low of $30.73 and a one year high of $52.57. The firm has a market cap of $1.54 billion, a price-to-earnings ratio of 40.78 and a beta of 1.06.
Benchmark Electronics Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 13th. Stockholders of record on Tuesday, September 30th were paid a $0.17 dividend. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $0.68 annualized dividend and a dividend yield of 1.6%. Benchmark Electronics’s dividend payout ratio (DPR) is presently 64.76%.
Insider Activity at Benchmark Electronics
In other news, SVP Jan M. Janick sold 10,004 shares of the firm’s stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $40.50, for a total value of $405,162.00. Following the completion of the transaction, the senior vice president owned 62,368 shares of the company’s stock, valued at approximately $2,525,904. This trade represents a 13.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 2.20% of the company’s stock.
Analysts Set New Price Targets
A number of equities research analysts have weighed in on BHE shares. Wall Street Zen cut shares of Benchmark Electronics from a “buy” rating to a “hold” rating in a research report on Saturday, August 2nd. Needham & Company LLC dropped their price target on shares of Benchmark Electronics from $48.00 to $47.00 and set a “buy” rating for the company in a research report on Friday, August 1st. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Benchmark Electronics in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $46.50.
Get Our Latest Research Report on BHE
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.
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