Benchmark Electronics, Inc. (NYSE:BHE) Stake Lowered by Texas Permanent School Fund

Texas Permanent School Fund cut its stake in Benchmark Electronics, Inc. (NYSE:BHE – Get Rating) by 6.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,648 shares of the technology company’s stock after selling 1,642 shares during the quarter. Texas Permanent School Fund’s holdings in Benchmark Electronics were worth $631,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of BHE. Advisor Group Holdings Inc. raised its holdings in shares of Benchmark Electronics by 14.4% during the 1st quarter. Advisor Group Holdings Inc. now owns 5,578 shares of the technology company’s stock valued at $140,000 after purchasing an additional 702 shares in the last quarter. Citigroup Inc. raised its holdings in Benchmark Electronics by 4.3% during the first quarter. Citigroup Inc. now owns 33,788 shares of the technology company’s stock valued at $846,000 after buying an additional 1,382 shares in the last quarter. Natixis Advisors L.P. lifted its position in shares of Benchmark Electronics by 16.6% in the first quarter. Natixis Advisors L.P. now owns 14,120 shares of the technology company’s stock worth $354,000 after buying an additional 2,012 shares during the last quarter. MetLife Investment Management LLC lifted its position in shares of Benchmark Electronics by 57.0% in the first quarter. MetLife Investment Management LLC now owns 19,645 shares of the technology company’s stock worth $492,000 after buying an additional 7,132 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Benchmark Electronics by 14.1% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 30,366 shares of the technology company’s stock worth $760,000 after acquiring an additional 3,744 shares in the last quarter. 93.41% of the stock is currently owned by hedge funds and other institutional investors.

Benchmark Electronics Price Performance

NYSE BHE opened at $21.80 on Thursday. The stock has a 50-day simple moving average of $22.31 and a 200 day simple moving average of $25.45. Benchmark Electronics, Inc. has a twelve month low of $20.58 and a twelve month high of $30.00. The stock has a market capitalization of $776.52 million, a PE ratio of 11.07 and a beta of 1.05. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.28 and a current ratio of 2.38.

Benchmark Electronics (NYSE:BHE – Get Rating) last posted its quarterly earnings data on Wednesday, May 3rd. The technology company reported $0.42 earnings per share for the quarter, meeting the consensus estimate of $0.42. The company had revenue of $694.70 million during the quarter, compared to analysts’ expectations of $660.00 million. Benchmark Electronics had a return on equity of 7.31% and a net margin of 2.36%. During the same period in the prior year, the business earned $0.44 earnings per share. Benchmark Electronics’s revenue for the quarter was up 9.2% compared to the same quarter last year.

Benchmark Electronics Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 13th. Stockholders of record on Friday, March 31st were issued a dividend of $0.165 per share. The ex-dividend date of this dividend was Thursday, March 30th. This represents a $0.66 annualized dividend and a dividend yield of 3.03%. Benchmark Electronics’s payout ratio is 33.50%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on BHE. StockNews.com started coverage on Benchmark Electronics in a research note on Thursday. They issued a “hold” rating on the stock. Needham & Company LLC dropped their price target on shares of Benchmark Electronics from $35.00 to $34.00 and set a “buy” rating on the stock in a research report on Thursday, February 2nd.

Benchmark Electronics Company Profile

(Get Rating)

Benchmark Electronics, Inc engages in the provision of integrated electronic manufacturing services, engineering and design services, and precision machining services. It operates through the following segments: Americas, Asia, and Europe. The firm offers services to original equipment manufacturers of industrial control telecommunication equipment, computers, and related products for business enterprises, medical devices, and testing and instrumentation products.