Raymond James Financial Inc. Takes Position in Benchmark Electronics, Inc. (NYSE:BHE)

Raymond James Financial Inc. acquired a new position in shares of Benchmark Electronics, Inc. (NYSE:BHE - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 91,309 shares of the technology company's stock, valued at approximately $4,145,000. Raymond James Financial Inc. owned approximately 0.25% of Benchmark Electronics at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the stock. Franklin Resources Inc. boosted its stake in shares of Benchmark Electronics by 0.7% during the 4th quarter. Franklin Resources Inc. now owns 1,909,918 shares of the technology company's stock worth $86,710,000 after purchasing an additional 12,350 shares during the last quarter. American Century Companies Inc. boosted its position in Benchmark Electronics by 16.9% during the fourth quarter. American Century Companies Inc. now owns 1,153,257 shares of the technology company's stock worth $52,358,000 after acquiring an additional 166,967 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Benchmark Electronics by 45.2% in the 4th quarter. JPMorgan Chase & Co. now owns 815,499 shares of the technology company's stock worth $37,024,000 after acquiring an additional 253,730 shares during the period. Wellington Management Group LLP raised its holdings in Benchmark Electronics by 1.9% in the 4th quarter. Wellington Management Group LLP now owns 436,181 shares of the technology company's stock valued at $19,803,000 after acquiring an additional 8,000 shares during the last quarter. Finally, Boston Partners lifted its stake in shares of Benchmark Electronics by 569.5% during the 4th quarter. Boston Partners now owns 416,831 shares of the technology company's stock worth $17,638,000 after purchasing an additional 354,567 shares during the period. 92.29% of the stock is currently owned by institutional investors and hedge funds.

Benchmark Electronics Trading Down 14.7 %

Shares of BHE traded down $5.62 during trading hours on Wednesday, hitting $32.65. The stock had a trading volume of 875,886 shares, compared to its average volume of 332,587. Benchmark Electronics, Inc. has a 12-month low of $29.52 and a 12-month high of $52.57. The firm has a market cap of $1.18 billion, a P/E ratio of 18.87 and a beta of 0.83. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.46 and a current ratio of 2.32. The company's fifty day simple moving average is $37.81 and its 200 day simple moving average is $43.13.

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

Benchmark Electronics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Monday, March 31st were given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend was Monday, March 31st. Benchmark Electronics's payout ratio is currently 39.31%.

Insider Activity

In related news, CEO Jeff Benck sold 6,000 shares of the stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $38.82, for a total value of $232,920.00. Following the completion of the sale, the chief executive officer now directly owns 448,180 shares in the company, valued at approximately $17,398,347.60. This represents a 1.32 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.20% of the company's stock.

Wall Street Analysts Forecast Growth

BHE has been the subject of a number of recent analyst reports. StockNews.com raised Benchmark Electronics from a "hold" rating to a "buy" rating in a research report on Tuesday, January 7th. Lake Street Capital lowered 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. Finally, Needham & Company LLC cut their price objective on shares of Benchmark Electronics from $50.00 to $48.00 and set a "buy" rating on the stock in a report on Wednesday.

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.