Comerica Bank Acquires 11,747 Shares of Benchmark Electronics, Inc. (NYSE:BHE)

Comerica Bank increased its holdings in Benchmark Electronics, Inc. (NYSE:BHE) by 70.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,430 shares of the technology company’s stock after acquiring an additional 11,747 shares during the quarter. Comerica Bank owned about 0.08% of Benchmark Electronics worth $1,291,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Northern Trust Corp raised its holdings in Benchmark Electronics by 8.0% in the fourth quarter. Northern Trust Corp now owns 418,234 shares of the technology company’s stock worth $18,988,000 after purchasing an additional 31,071 shares in the last quarter. Tudor Investment Corp ET AL raised its holdings in Benchmark Electronics by 480.7% in the fourth quarter. Tudor Investment Corp ET AL now owns 121,602 shares of the technology company’s stock worth $5,521,000 after purchasing an additional 100,663 shares in the last quarter. Voya Investment Management LLC raised its holdings in Benchmark Electronics by 52.1% in the fourth quarter. Voya Investment Management LLC now owns 17,935 shares of the technology company’s stock worth $814,000 after purchasing an additional 6,146 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Benchmark Electronics by 8.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 31,401 shares of the technology company’s stock worth $1,426,000 after purchasing an additional 2,369 shares in the last quarter. Finally, Hsbc Holdings PLC raised its holdings in Benchmark Electronics by 26.9% in the fourth quarter. Hsbc Holdings PLC now owns 35,996 shares of the technology company’s stock worth $1,639,000 after purchasing an additional 7,633 shares in the last quarter. Hedge funds and other institutional investors own 92.29% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on BHE. StockNews.com downgraded Benchmark Electronics from a “buy” rating to a “hold” rating in a report on Friday, May 2nd. Needham & Company LLC reduced their price target on Benchmark Electronics from $50.00 to $48.00 and set a “buy” rating for the company in a report on Wednesday, April 30th. Finally, Lake Street Capital reduced their price target on Benchmark Electronics from $52.00 to $46.00 and set a “buy” rating for the company in a report on Wednesday, April 30th.

Benchmark Electronics Trading Up 0.6%

Benchmark Electronics stock opened at $35.02 on Monday. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.32 and a quick ratio of 1.46. Benchmark Electronics, Inc. has a one year low of $30.73 and a one year high of $52.57. The stock has a market capitalization of $1.26 billion, a PE ratio of 20.24 and a beta of 0.92. The business’s fifty day moving average is $36.97 and its 200 day moving average is $42.60.

Benchmark Electronics (NYSE:BHE) last released its quarterly earnings data on Tuesday, April 29th. The technology company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.50 by $0.02. Benchmark Electronics had a return on equity of 6.68% and a net margin of 2.38%. The company had revenue of $631.76 million for the quarter, compared to analysts’ expectations of $640.00 million. During the same period last year, the firm posted $0.55 earnings per share. Benchmark Electronics’s revenue was down 6.5% compared to the same quarter last year.

Benchmark Electronics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Monday, March 31st were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.68 annualized dividend and a dividend yield of 1.94%. Benchmark Electronics’s dividend payout ratio (DPR) is presently 46.90%.

Insiders Place Their Bets

In other Benchmark Electronics news, CEO Jeff Benck sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $38.82, for a total value of $232,920.00. Following the transaction, the chief executive officer now directly owns 448,180 shares of the company’s stock, valued at approximately $17,398,347.60. This trade represents a 1.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.20% of the company’s stock.

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.