Connor Clark & Lunn Investment Management Ltd. Sells 30,641 Shares of Benchmark Electronics, Inc. (NYSE:BHE)

Connor Clark & Lunn Investment Management Ltd. cut its stake in shares of Benchmark Electronics, Inc. (NYSE:BHE) by 70.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,835 shares of the technology company’s stock after selling 30,641 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Benchmark Electronics were worth $583,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in BHE. Parkside Financial Bank & Trust purchased a new stake in shares of Benchmark Electronics during the fourth quarter valued at $50,000. KBC Group NV increased its holdings in Benchmark Electronics by 125.3% during the third quarter. KBC Group NV now owns 1,534 shares of the technology company’s stock valued at $68,000 after buying an additional 853 shares during the last quarter. GAMMA Investing LLC raised its position in Benchmark Electronics by 12.9% in the fourth quarter. GAMMA Investing LLC now owns 2,547 shares of the technology company’s stock worth $116,000 after acquiring an additional 292 shares during the period. Glenmede Trust Co. NA purchased a new position in shares of Benchmark Electronics during the 3rd quarter worth $238,000. Finally, Highland Capital Management LLC grew its position in shares of Benchmark Electronics by 6.4% during the 4th quarter. Highland Capital Management LLC now owns 5,620 shares of the technology company’s stock valued at $255,000 after acquiring an additional 337 shares during the period. Institutional investors own 92.29% of the company’s stock.

Insiders Place Their Bets

In other Benchmark Electronics news, CEO Jeff Benck sold 6,000 shares of the stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $38.82, for a total transaction of $232,920.00. Following the transaction, the chief executive officer now directly owns 448,180 shares in the company, valued at $17,398,347.60. This represents a 1.32 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. StockNews.com raised Benchmark Electronics from a “hold” rating to a “buy” rating in a research report on Tuesday, January 7th. Needham & Company LLC increased their price target on Benchmark Electronics from $48.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Benchmark Electronics currently has an average rating of “Moderate Buy” and a consensus target price of $43.00.

Benchmark Electronics Price Performance

Shares of Benchmark Electronics stock opened at $40.21 on Friday. The firm has a market cap of $1.45 billion, a PE ratio of 23.25 and a beta of 0.97. The stock has a 50 day moving average of $42.16 and a 200 day moving average of $44.39. The company has a current ratio of 2.32, a quick ratio of 1.46 and a debt-to-equity ratio of 0.24. Benchmark Electronics, Inc. has a 12 month low of $28.64 and a 12 month high of $52.57.

Benchmark Electronics (NYSE:BHE) last announced its earnings results on Wednesday, January 29th. The technology company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.01). Benchmark Electronics had a return on equity of 6.68% and a net margin of 2.38%.

Benchmark Electronics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Monday, March 31st will be given a dividend of $0.17 per share. The ex-dividend date is Monday, March 31st. This represents a $0.68 annualized dividend and a dividend yield of 1.69%. Benchmark Electronics’s dividend payout ratio (DPR) is 39.31%.

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.