Zurcher Kantonalbank Zurich Cantonalbank Grows Stock Holdings in Benchmark Electronics, Inc. (NYSE:BHE)

Zurcher Kantonalbank Zurich Cantonalbank grew its position in Benchmark Electronics, Inc. (NYSE:BHE) by 13.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,138 shares of the technology company’s stock after buying an additional 1,311 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Benchmark Electronics were worth $494,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. UMB Bank n.a. increased its stake in Benchmark Electronics by 65.7% during the second quarter. UMB Bank n.a. now owns 686 shares of the technology company’s stock worth $27,000 after purchasing an additional 272 shares during the period. Quest Partners LLC acquired a new position in shares of Benchmark Electronics in the second quarter valued at approximately $41,000. CWM LLC increased its stake in Benchmark Electronics by 81.9% during the 2nd quarter. CWM LLC now owns 1,106 shares of the technology company’s stock worth $44,000 after buying an additional 498 shares during the period. Quarry LP lifted its holdings in Benchmark Electronics by 172.5% during the 2nd quarter. Quarry LP now owns 1,379 shares of the technology company’s stock worth $54,000 after buying an additional 873 shares in the last quarter. Finally, Innealta Capital LLC purchased a new position in Benchmark Electronics in the 2nd quarter valued at approximately $61,000. Hedge funds and other institutional investors own 92.29% of the company’s stock.

Insider Activity

In other news, SVP Rhonda R. Turner sold 6,000 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was 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 of the company’s stock, valued at approximately $2,254,617.18. This represents a 11.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jeff Benck sold 24,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $45.90, for a total transaction of $1,101,600.00. Following the transaction, the chief executive officer now owns 424,173 shares in the company, valued at approximately $19,469,540.70. This trade represents a 5.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.10% of the company’s stock.

Benchmark Electronics Price Performance

Benchmark Electronics stock opened at $47.62 on Friday. The company has a current ratio of 2.36, a quick ratio of 1.45 and a debt-to-equity ratio of 0.25. The company has a fifty day simple moving average of $46.23 and a 200-day simple moving average of $43.17. The stock has a market cap of $1.71 billion, a P/E ratio of 27.69 and a beta of 0.99. Benchmark Electronics, Inc. has a 12-month low of $24.93 and a 12-month high of $52.57.

Benchmark Electronics (NYSE:BHE) last released its quarterly earnings data on Wednesday, October 30th. The technology company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.03. Benchmark Electronics had a return on equity of 6.81% and a net margin of 2.32%. The business had revenue of $658.00 million during the quarter, compared to analysts’ expectations of $650.00 million. During the same period in the prior year, the firm posted $0.57 EPS. The business’s quarterly revenue was down 8.6% compared to the same quarter last year.

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 given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.43%. The ex-dividend date of this dividend was Monday, September 30th. This is an increase from Benchmark Electronics’s previous quarterly dividend of $0.17. Benchmark Electronics’s payout ratio is currently 39.53%.

Analyst Upgrades and Downgrades

BHE has been the topic of several analyst reports. StockNews.com cut Benchmark Electronics from a “buy” rating to a “hold” rating in a research note on Wednesday. Needham & Company LLC increased their price target on Benchmark Electronics from $45.00 to $48.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $42.33.

Benchmark Electronics Company 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.