Truist Financial Corp Boosts Stake in Benchmark Electronics, Inc. (NYSE:BHE)

Truist Financial Corp raised its stake in shares of Benchmark Electronics, Inc. (NYSE:BHE) by 51.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 10,965 shares of the technology company’s stock after purchasing an additional 3,721 shares during the period. Truist Financial Corp’s holdings in Benchmark Electronics were worth $433,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Empowered Funds LLC grew its stake in shares of Benchmark Electronics by 61.4% during the first quarter. Empowered Funds LLC now owns 75,682 shares of the technology company’s stock valued at $2,271,000 after buying an additional 28,784 shares during the last quarter. UniSuper Management Pty Ltd acquired a new position in Benchmark Electronics in the 1st quarter worth about $430,000. Wellington Management Group LLP increased its stake in Benchmark Electronics by 63.3% during the 4th quarter. Wellington Management Group LLP now owns 183,278 shares of the technology company’s stock worth $5,066,000 after buying an additional 71,024 shares in the last quarter. Millennium Management LLC increased its stake in Benchmark Electronics by 85.9% during the 2nd quarter. Millennium Management LLC now owns 446,176 shares of the technology company’s stock worth $17,606,000 after buying an additional 206,114 shares in the last quarter. Finally, Raymond James & Associates purchased a new stake in shares of Benchmark Electronics in the second quarter valued at approximately $2,642,000. Institutional investors own 92.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on BHE shares. StockNews.com cut Benchmark Electronics from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. Needham & Company LLC raised their price objective 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. Finally, 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. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $41.33.

Insider Buying and Selling at Benchmark Electronics

In related news, Director Jeffrey Stephen Mccreary sold 7,073 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 42,027 shares in the company, valued at approximately $1,794,552.90. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 2.10% of the company’s stock.

Benchmark Electronics Stock Performance

Shares of BHE stock opened at $44.06 on Thursday. The company’s fifty day moving average price is $42.56 and its two-hundred day moving average price is $39.70. The firm has a market capitalization of $1.59 billion, a P/E ratio of 24.08 and a beta of 0.98. Benchmark Electronics, Inc. has a 12 month low of $22.66 and a 12 month high of $48.58. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.35 and a quick ratio of 1.42.

Benchmark Electronics (NYSE:BHE) last posted its earnings results on Tuesday, July 30th. The technology company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.51 by $0.06. The firm had revenue of $666.00 million during the quarter, compared to analysts’ expectations of $635.75 million. Benchmark Electronics had a net margin of 2.45% and a return on equity of 7.17%. Benchmark Electronics’s quarterly revenue was down 9.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.48 EPS.

Benchmark Electronics Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.54%. The ex-dividend date was Monday, September 30th. This is an increase from Benchmark Electronics’s previous quarterly dividend of $0.17. Benchmark Electronics’s dividend payout ratio is 37.16%.

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.