Thrivent Financial For Lutherans increased its holdings in shares of Benchmark Electronics, Inc. (NYSE:BHE) by 398.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 726,022 shares of the technology company’s stock after acquiring an additional 580,392 shares during the period. Thrivent Financial For Lutherans’ holdings in Benchmark Electronics were worth $21,127,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in BHE. The Manufacturers Life Insurance Company grew its holdings in Benchmark Electronics by 0.4% during the second quarter. The Manufacturers Life Insurance Company now owns 37,456 shares of the technology company’s stock worth $1,209,000 after acquiring an additional 157 shares during the period. Nationwide Fund Advisors grew its holdings in Benchmark Electronics by 31.1% in the third quarter. Nationwide Fund Advisors now owns 188,559 shares of the technology company’s stock valued at $6,439,000 after purchasing an additional 44,712 shares during the last quarter. Crossmark Global Holdings Inc. acquired a new stake in Benchmark Electronics in the third quarter valued at $574,000. Victory Capital Management Inc. grew its holdings in Benchmark Electronics by 0.6% in the third quarter. Victory Capital Management Inc. now owns 811,968 shares of the technology company’s stock valued at $27,728,000 after purchasing an additional 5,045 shares during the last quarter. Finally, Stevens Capital Management LP grew its holdings in Benchmark Electronics by 19.7% in the third quarter. Stevens Capital Management LP now owns 32,509 shares of the technology company’s stock valued at $1,110,000 after purchasing an additional 5,343 shares during the last quarter. 93.36% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Benchmark Electronics, Inc. (NYSE:BHE) opened at $31.80 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.38 and a quick ratio of 2.55. The firm has a market capitalization of $1,549.58, a price-to-earnings ratio of -48.18 and a beta of 0.39. Benchmark Electronics, Inc. has a twelve month low of $27.05 and a twelve month high of $35.80.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 11th. Shareholders of record on Thursday, March 29th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.89%. The ex-dividend date is Wednesday, March 28th.
Benchmark Electronics announced that its board has authorized a stock buyback plan on Wednesday, March 7th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the technology company to reacquire shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.
Separately, TheStreet lowered Benchmark Electronics from a “b” rating to a “c+” rating in a report on Monday, November 13th. One research analyst has rated the stock with a sell rating and three have issued a hold rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $36.67.
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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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