Amalgamated Bank Sells 311 Shares of Benchmark Electronics, Inc. (NYSE:BHE)

Amalgamated Bank cut its holdings in Benchmark Electronics, Inc. (NYSE:BHE) by 2.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,252 shares of the technology company’s stock after selling 311 shares during the quarter. Amalgamated Bank’s holdings in Benchmark Electronics were worth $390,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of BHE. Proficio Capital Partners LLC bought a new stake in shares of Benchmark Electronics in the fourth quarter worth about $868,000. Raymond James Financial Inc. bought a new stake in shares of Benchmark Electronics in the fourth quarter worth about $4,145,000. Amundi boosted its position in Benchmark Electronics by 203.5% during the 4th quarter. Amundi now owns 18,425 shares of the technology company’s stock valued at $850,000 after acquiring an additional 12,355 shares in the last quarter. AlphaQuest LLC bought a new stake in Benchmark Electronics during the 4th quarter valued at approximately $341,000. Finally, Swiss National Bank boosted its position in Benchmark Electronics by 1.0% during the 4th quarter. Swiss National Bank now owns 71,000 shares of the technology company’s stock valued at $3,223,000 after acquiring an additional 700 shares in the last quarter. 92.29% of the stock is owned by institutional investors.

Benchmark Electronics Stock Performance

Shares of BHE opened at $40.41 on Friday. The company has a quick ratio of 1.48, a current ratio of 2.37 and a debt-to-equity ratio of 0.24. The business’s 50 day moving average price is $37.54 and its 200-day moving average price is $39.71. Benchmark Electronics, Inc. has a 52 week low of $30.73 and a 52 week high of $52.57. The stock has a market cap of $1.46 billion, a P/E ratio of 27.87 and a beta of 0.95.

Benchmark Electronics (NYSE:BHE) last issued its quarterly earnings results on Tuesday, April 29th. The technology company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.02. Benchmark Electronics had a return on equity of 6.37% and a net margin of 2.03%. The firm had revenue of $631.76 million for the quarter, compared to analysts’ expectations of $640.00 million. During the same period in the previous year, the firm posted $0.55 EPS. The business’s revenue for the quarter was down 6.5% compared to the same quarter last year.

Benchmark Electronics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Monday, June 30th will be given a $0.17 dividend. The ex-dividend date is Monday, June 30th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.68%. Benchmark Electronics’s dividend payout ratio is currently 46.90%.

Wall Street Analyst Weigh In

Several research firms have weighed in on BHE. Needham & Company LLC cut their price objective on Benchmark Electronics from $50.00 to $48.00 and set a “buy” rating on the stock in a research report on Wednesday, April 30th. Lake Street Capital cut their price objective on Benchmark Electronics from $52.00 to $46.00 and set a “buy” rating on the stock in a research report on Wednesday, April 30th. Finally, Wall Street Zen raised Benchmark Electronics from a “hold” rating to a “buy” rating in a research report on Saturday, June 21st.

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.