Amalgamated Bank Lowers Stock Holdings in Benchmark Electronics, Inc. (NYSE:BHE)

Amalgamated Bank lowered its holdings in shares of Benchmark Electronics, Inc. (NYSE:BHE) by 2.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,659 shares of the technology company’s stock after selling 301 shares during the quarter. Amalgamated Bank’s holdings in Benchmark Electronics were worth $472,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Miller Howard Investments Inc. NY lifted its position in shares of Benchmark Electronics by 1.8% in the second quarter. Miller Howard Investments Inc. NY now owns 15,244 shares of the technology company’s stock valued at $602,000 after acquiring an additional 263 shares in the last quarter. UMB Bank n.a. lifted its position 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 buying an additional 272 shares in the last quarter. Inspire Investing LLC lifted its position in Benchmark Electronics by 4.0% during the third quarter. Inspire Investing LLC now owns 9,346 shares of the technology company’s stock worth $414,000 after buying an additional 362 shares in the last quarter. Louisiana State Employees Retirement System lifted its position in Benchmark Electronics by 2.3% during the second quarter. Louisiana State Employees Retirement System now owns 18,100 shares of the technology company’s stock worth $714,000 after buying an additional 400 shares in the last quarter. Finally, CWM LLC lifted its position in Benchmark Electronics by 81.9% during the second quarter. CWM LLC now owns 1,106 shares of the technology company’s stock worth $44,000 after buying an additional 498 shares in the last quarter. Hedge funds and other institutional investors own 92.29% of the company’s stock.

Insiders Place Their Bets

In other news, Director Jeffrey Stephen Mccreary sold 7,073 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $42.70, for a total transaction of $302,017.10. Following the completion of the transaction, the director now directly owns 42,027 shares of the company’s stock, valued at approximately $1,794,552.90. This represents a 14.41 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Jeff Benck sold 24,000 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $45.90, for a total value of $1,101,600.00. Following the transaction, the chief executive officer now directly owns 424,173 shares of the company’s stock, 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. 2.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

BHE has been the topic of a number of analyst reports. Needham & Company LLC lifted their price objective on Benchmark Electronics from $45.00 to $48.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. StockNews.com upgraded Benchmark Electronics from a “hold” rating to a “buy” rating in a research report on Sunday, November 10th. Finally, Lake Street Capital lifted their target price on Benchmark Electronics from $35.00 to $46.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $42.33.

Benchmark Electronics Stock Down 1.7 %

Shares of NYSE BHE opened at $47.06 on Friday. The stock has a market cap of $1.69 billion, a PE ratio of 27.36 and a beta of 0.97. The company has a quick ratio of 1.45, a current ratio of 2.36 and a debt-to-equity ratio of 0.25. Benchmark Electronics, Inc. has a 52-week low of $24.75 and a 52-week high of $52.57. The business has a 50-day moving average price of $44.64 and a 200 day moving average price of $42.23.

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

Benchmark Electronics Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.44%. This is a boost from Benchmark Electronics’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Monday, September 30th. Benchmark Electronics’s dividend payout ratio (DPR) is presently 39.53%.

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.