Teacher Retirement System of Texas bought a new stake in shares of Benchmark Electronics, Inc. (NYSE:BHE) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 17,318 shares of the technology company’s stock, valued at approximately $504,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Rhumbline Advisers raised its position in Benchmark Electronics by 1.7% during the 3rd quarter. Rhumbline Advisers now owns 105,938 shares of the technology company’s stock valued at $3,618,000 after purchasing an additional 1,750 shares in the last quarter. Thomson Horstmann & Bryant Inc. raised its position in Benchmark Electronics by 7.1% during the 4th quarter. Thomson Horstmann & Bryant Inc. now owns 31,041 shares of the technology company’s stock valued at $903,000 after purchasing an additional 2,066 shares in the last quarter. American International Group Inc. raised its position in Benchmark Electronics by 5.8% during the 3rd quarter. American International Group Inc. now owns 39,597 shares of the technology company’s stock valued at $1,352,000 after purchasing an additional 2,178 shares in the last quarter. Bank of Montreal Can raised its position in Benchmark Electronics by 2.4% during the 4th quarter. Bank of Montreal Can now owns 101,358 shares of the technology company’s stock valued at $2,950,000 after purchasing an additional 2,332 shares in the last quarter. Finally, Alambic Investment Management L.P. raised its position in Benchmark Electronics by 32.7% during the 4th quarter. Alambic Investment Management L.P. now owns 15,000 shares of the technology company’s stock valued at $437,000 after purchasing an additional 3,700 shares in the last quarter. 98.03% of the stock is owned by institutional investors and hedge funds.
Separately, TheStreet lowered Benchmark Electronics from a “b-” rating to a “c” rating in a research report on Thursday, February 8th. One research analyst has rated the stock with a sell rating and three have issued a hold rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $36.67.
Benchmark Electronics, Inc. (NYSE:BHE) opened at $31.35 on Thursday. The company has a market capitalization of $1,549.58, a price-to-earnings ratio of 19.88 and a beta of 0.39. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.38 and a quick ratio of 2.55. Benchmark Electronics, Inc. has a 1 year low of $27.05 and a 1 year high of $35.80.
Benchmark Electronics (NYSE:BHE) last released its quarterly earnings results on Wednesday, February 7th. The technology company reported $0.49 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.12. The firm had revenue of $679.86 million during the quarter. Benchmark Electronics had a positive return on equity of 5.83% and a negative net margin of 1.30%.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 11th. Stockholders of record on Thursday, March 29th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.91%. The ex-dividend date is Wednesday, March 28th.
Benchmark Electronics declared that its board has approved a stock buyback program on Wednesday, March 7th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the technology company to repurchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.
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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