New York State Teachers Retirement System Sells 2,405 Shares of Benchmark Electronics, Inc. (NYSE:BHE)

New York State Teachers Retirement System cut its holdings in shares of Benchmark Electronics, Inc. (NYSE:BHE) by 3.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 72,769 shares of the technology company’s stock after selling 2,405 shares during the period. New York State Teachers Retirement System’s holdings in Benchmark Electronics were worth $3,225,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BHE. Pacer Advisors Inc. bought a new position in shares of Benchmark Electronics during the second quarter valued at approximately $70,424,000. American Century Companies Inc. boosted its stake in Benchmark Electronics by 176.6% in the second quarter. American Century Companies Inc. now owns 615,036 shares of the technology company’s stock valued at $24,269,000 after acquiring an additional 392,699 shares in the last quarter. Millennium Management LLC boosted its stake in Benchmark Electronics by 85.9% in the second quarter. Millennium Management LLC now owns 446,176 shares of the technology company’s stock valued at $17,606,000 after acquiring an additional 206,114 shares in the last quarter. Vanguard Group Inc. boosted its stake in Benchmark Electronics by 3.4% in the first quarter. Vanguard Group Inc. now owns 4,845,204 shares of the technology company’s stock valued at $145,405,000 after acquiring an additional 159,716 shares in the last quarter. Finally, Advisors Preferred LLC acquired a new stake in Benchmark Electronics in the first quarter valued at approximately $2,883,000. 92.29% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. StockNews.com downgraded shares of Benchmark Electronics from a “buy” rating to a “hold” rating in a research note on Saturday, November 2nd. Lake Street Capital raised their target price on shares of Benchmark Electronics from $35.00 to $46.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Finally, Needham & Company LLC raised their target price on shares of Benchmark Electronics from $45.00 to $48.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $42.33.

Benchmark Electronics Trading Up 10.5 %

NYSE BHE opened at $51.41 on Thursday. The company has a fifty day simple moving average of $43.47 and a two-hundred day simple moving average of $41.30. The stock has a market cap of $1.86 billion, a P/E ratio of 29.89 and a beta of 0.97. Benchmark Electronics, Inc. has a 12-month low of $23.62 and a 12-month high of $52.07. The company has a current ratio of 2.36, a quick ratio of 1.45 and a debt-to-equity ratio of 0.25.

Benchmark Electronics (NYSE:BHE) last issued its earnings results on Wednesday, October 30th. The technology company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.03. Benchmark Electronics had a net margin of 2.32% and a return on equity of 6.81%. The firm had revenue of $658.00 million during the quarter, compared to analysts’ expectations of $650.00 million. During the same quarter last year, the company posted $0.57 earnings per share. The firm’s revenue was down 8.6% compared to the same quarter last year.

Benchmark Electronics Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.32%. The ex-dividend date of this dividend was Monday, September 30th. This is a boost from Benchmark Electronics’s previous quarterly dividend of $0.17. Benchmark Electronics’s dividend payout ratio (DPR) is 39.53%.

Insider Buying and Selling

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 transaction of $302,017.10. Following the sale, the director now owns 42,027 shares in the company, valued at approximately $1,794,552.90. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.10% of the stock is currently owned by corporate insiders.

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.