Benchmark Electronics (NYSE:BHE) Hits New 1-Year High at $39.51

Benchmark Electronics, Inc. (NYSE:BHE)’s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as $39.51 and last traded at $39.48, with a volume of 59229 shares traded. The stock had previously closed at $39.14.

Analyst Upgrades and Downgrades

BHE has been the topic of a number of research reports. Needham & Company LLC increased their price objective on Benchmark Electronics from $31.00 to $40.00 and gave the stock a “buy” rating in a report on Monday. Sidoti downgraded Benchmark Electronics from a “buy” rating to a “neutral” rating and set a $33.00 price target on the stock. in a report on Monday, April 29th. Finally, StockNews.com upgraded Benchmark Electronics from a “hold” rating to a “buy” rating in a report on Friday, May 3rd.

Benchmark Electronics Stock Performance

The company has a debt-to-equity ratio of 0.29, a current ratio of 2.36 and a quick ratio of 1.41. The firm has a fifty day simple moving average of $31.00 and a 200 day simple moving average of $28.28. The company has a market cap of $1.44 billion, a price-to-earnings ratio of 21.76 and a beta of 1.00.

Benchmark Electronics Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 29th were given a $0.165 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.66 annualized dividend and a dividend yield of 1.66%. Benchmark Electronics’s dividend payout ratio is 36.07%.

Insider Activity

In other news, Director Jeffrey Stephen Mccreary sold 10,000 shares of the stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $39.49, for a total value of $394,900.00. Following the completion of the sale, the director now directly owns 45,062 shares of the company’s stock, valued at $1,779,498.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Arvind Kamal sold 783 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $38.38, for a total value of $30,051.54. Following the completion of the transaction, the chief financial officer now directly owns 20,735 shares of the company’s stock, valued at $795,809.30. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jeffrey Stephen Mccreary sold 10,000 shares of the firm’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $39.49, for a total value of $394,900.00. Following the completion of the transaction, the director now directly owns 45,062 shares of the company’s stock, valued at $1,779,498.38. The disclosure for this sale can be found here. Over the last three months, insiders sold 17,560 shares of company stock valued at $688,374. 2.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in BHE. Norges Bank bought a new position in shares of Benchmark Electronics during the fourth quarter valued at $7,012,000. First Trust Advisors LP lifted 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 acquiring an additional 243,480 shares during the period. Circumference Group LLC bought a new position in shares of Benchmark Electronics during the fourth quarter valued at $6,558,000. Invesco Ltd. lifted its holdings in shares of Benchmark Electronics by 17.6% during the third quarter. Invesco Ltd. now owns 1,328,401 shares of the technology company’s stock valued at $32,227,000 after acquiring an additional 199,263 shares during the period. Finally, Kennedy Capital Management LLC bought a new position in shares of Benchmark Electronics during the third quarter valued at $3,796,000. 92.29% of the stock is owned by institutional investors.

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.