Stone Ridge Asset Management LLC bought a new position in Benchmark Electronics, Inc. (NYSE:BHE) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 39,845 shares of the technology company’s stock, valued at approximately $1,159,000. Stone Ridge Asset Management LLC owned 0.08% of Benchmark Electronics as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also recently added to or reduced their stakes in BHE. Nationwide Fund Advisors grew its stake in Benchmark Electronics by 31.1% in the 3rd quarter. Nationwide Fund Advisors now owns 188,559 shares of the technology company’s stock worth $6,439,000 after acquiring an additional 44,712 shares during the period. Crossmark Global Holdings Inc. purchased a new stake in Benchmark Electronics in the 3rd quarter worth approximately $574,000. BNP Paribas Arbitrage SA grew its stake in Benchmark Electronics by 30.1% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 26,570 shares of the technology company’s stock worth $907,000 after acquiring an additional 6,143 shares during the period. Municipal Employees Retirement System of Michigan grew its stake in Benchmark Electronics by 59.2% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 18,660 shares of the technology company’s stock worth $637,000 after acquiring an additional 6,940 shares during the period. Finally, Rhumbline Advisers grew its stake in Benchmark Electronics by 1.7% in the 3rd quarter. Rhumbline Advisers now owns 105,938 shares of the technology company’s stock worth $3,618,000 after acquiring an additional 1,750 shares during the period. 97.99% of the stock is owned by hedge funds and other institutional investors.
Separately, TheStreet raised shares of Benchmark Electronics from a “c+” rating to a “b-” rating in a research note on Tuesday, December 26th. One equities research analyst has rated the stock with a sell rating and three have issued a hold rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $36.67.
Shares of NYSE BHE traded down $0.50 during trading on Friday, hitting $29.10. 278,224 shares of the company traded hands, compared to its average volume of 399,652. Benchmark Electronics, Inc. has a 1 year low of $27.05 and a 1 year high of $35.80. The stock has a market capitalization of $1,418.01, a PE ratio of 18.07 and a beta of 0.38. The company has a quick ratio of 2.55, a current ratio of 3.38 and a debt-to-equity ratio of 0.15.
Benchmark Electronics (NYSE:BHE) last announced its quarterly earnings data on Wednesday, February 7th. The technology company reported $0.49 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.12. Benchmark Electronics had a negative net margin of 1.30% and a positive return on equity of 5.83%. The company had revenue of $679.86 million during the quarter.
Benchmark Electronics announced that its Board of Directors has initiated a stock buyback plan on Wednesday, March 7th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the technology company to purchase shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 11th. Stockholders of record on Thursday, March 29th will be paid a dividend of $0.15 per share. The ex-dividend date is Wednesday, March 28th. This represents a $0.60 annualized dividend and a dividend yield of 2.06%. Benchmark Electronics’s dividend payout ratio is presently 37.27%.
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About Benchmark Electronics
Benchmark Electronics, Inc is a provider of electronic manufacturing services. The Company operates through three segments: the Americas, Asia and Europe. It provides services to original equipment manufacturers of industrial control equipment, including equipment for the aerospace and defense industry; telecommunication equipment; computers and related products for business enterprises; medical devices, and testing and instrumentation products.
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