Cubist Systematic Strategies LLC Purchases 47,159 Shares of Benchmark Electronics, Inc. (NYSE:BHE)

Cubist Systematic Strategies LLC increased its position in shares of Benchmark Electronics, Inc. (NYSE:BHE) by 2,430.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 49,099 shares of the technology company’s stock after buying an additional 47,159 shares during the period. Cubist Systematic Strategies LLC owned 0.14% of Benchmark Electronics worth $1,937,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of BHE. Norges Bank acquired a new stake in Benchmark Electronics in the fourth quarter worth $7,012,000. Trexquant Investment LP acquired a new stake in Benchmark Electronics in the fourth quarter worth $380,000. Parallel Advisors LLC grew its holdings in Benchmark Electronics by 97.9% in the fourth quarter. Parallel Advisors LLC now owns 1,144 shares of the technology company’s stock worth $32,000 after purchasing an additional 566 shares during the period. Allianz Asset Management GmbH grew its holdings in Benchmark Electronics by 8.1% in the fourth quarter. Allianz Asset Management GmbH now owns 179,675 shares of the technology company’s stock worth $4,966,000 after purchasing an additional 13,525 shares during the period. Finally, First Trust Advisors LP grew its holdings in shares of Benchmark Electronics by 36.9% during the fourth quarter. First Trust Advisors LP now owns 902,475 shares of the technology company’s stock valued at $24,944,000 after buying an additional 243,480 shares during the last quarter. 92.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Benchmark Electronics Stock Down 1.0 %

BHE opened at $44.33 on Tuesday. 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 company’s 50-day moving average is $42.12 and its 200 day moving average is $38.47. Benchmark Electronics, Inc. has a fifty-two week low of $22.66 and a fifty-two week high of $48.58. The firm has a market capitalization of $1.60 billion, a P/E ratio of 24.22 and a beta of 0.98.

Benchmark Electronics (NYSE:BHE) last released its quarterly 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 company had revenue of $666.00 million for the quarter, compared to analyst estimates of $635.75 million. During the same period last year, the firm earned $0.48 earnings per share. The firm’s revenue was down 9.2% on a year-over-year basis.

Benchmark Electronics Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Monday, September 30th will be given a dividend of $0.17 per share. This is a positive change from Benchmark Electronics’s previous quarterly dividend of $0.17. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date is Monday, September 30th. Benchmark Electronics’s dividend payout ratio (DPR) is presently 37.16%.

Insider Activity at Benchmark Electronics

In related news, Director Jeffrey Stephen Mccreary sold 7,073 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were 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 of the company’s stock, valued at $1,794,552.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.10% of the stock is owned by insiders.

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.