Thrivent Financial for Lutherans Reduces Holdings in Benchmark Electronics, Inc. (NYSE:BHE)

Thrivent Financial for Lutherans trimmed its stake in Benchmark Electronics, Inc. (NYSE:BHE) by 3.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 29,923 shares of the technology company’s stock after selling 1,032 shares during the period. Thrivent Financial for Lutherans owned 0.08% of Benchmark Electronics worth $1,181,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Benchmark Electronics by 3.4% in the 1st quarter. Vanguard Group Inc. now owns 4,845,204 shares of the technology company’s stock worth $145,405,000 after purchasing an additional 159,716 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Benchmark Electronics by 0.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,012,717 shares of the technology company’s stock worth $118,881,000 after purchasing an additional 12,112 shares during the period. Pacer Advisors Inc. purchased a new stake in shares of Benchmark Electronics in the 2nd quarter worth about $70,424,000. First Trust Advisors LP lifted its position in shares of Benchmark Electronics by 36.9% in the 4th quarter. First Trust Advisors LP now owns 902,475 shares of the technology company’s stock worth $24,944,000 after purchasing an additional 243,480 shares during the period. Finally, Tributary Capital Management LLC lifted its position in Benchmark Electronics by 0.3% during the 2nd quarter. Tributary Capital Management LLC now owns 646,142 shares of the technology company’s stock valued at $25,497,000 after acquiring an additional 1,875 shares during the period. 92.29% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Benchmark Electronics

In other news, Director Jeffrey Stephen Mccreary sold 7,073 shares of Benchmark Electronics stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $42.70, for a total value of $302,017.10. Following the completion of the sale, the director now directly owns 42,027 shares in the company, valued at $1,794,552.90. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 2.10% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Benchmark Electronics Stock Up 2.3 %

NYSE:BHE opened at $43.73 on Friday. The firm has a market cap of $1.58 billion, a P/E ratio of 23.90 and a beta of 0.98. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.42 and a current ratio of 2.35. 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 50-day simple moving average of $42.28 and a two-hundred day simple moving average of $38.90.

Benchmark Electronics (NYSE:BHE) last released its quarterly earnings data 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. The business had revenue of $666.00 million during the quarter, compared to analyst estimates of $635.75 million. Benchmark Electronics had a net margin of 2.45% and a return on equity of 7.17%. Benchmark Electronics’s revenue was down 9.2% compared to the same quarter last year. During the same period last year, the business earned $0.48 EPS.

Benchmark Electronics Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Monday, September 30th will be paid a $0.17 dividend. The ex-dividend date is Monday, September 30th. 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 1.55%. Benchmark Electronics’s payout ratio is currently 37.16%.

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.