Allianz Asset Management GmbH Raises Stock Position in Benchmark Electronics, Inc. (NYSE:BHE)

Key Points

• Allianz Asset Management GmbH increased its stake in Benchmark Electronics by 35.5%, acquiring a total of 423,405 shares worth approximately $16.1 million.
• Benchmark Electronics reported a net margin of 2.03% and a revenue of $631.76 million for the last quarter, which fell short of analysts' expectations.
• The company declared a quarterly dividend of $0.17 per share, yielding 1.75%, with a payout ratio of 46.90%.

Allianz Asset Management GmbH boosted its holdings in Benchmark Electronics, Inc. (NYSE:BHE - Free Report) by 35.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 423,405 shares of the technology company's stock after acquiring an additional 111,022 shares during the quarter. Allianz Asset Management GmbH owned 1.18% of Benchmark Electronics worth $16,102,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Versant Capital Management Inc lifted its position in Benchmark Electronics by 197.5% in the 1st quarter. Versant Capital Management Inc now owns 2,475 shares of the technology company's stock valued at $94,000 after acquiring an additional 1,643 shares in the last quarter. State of Wyoming lifted its position in Benchmark Electronics by 213.4% in the 4th quarter. State of Wyoming now owns 3,563 shares of the technology company's stock valued at $162,000 after acquiring an additional 2,426 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Benchmark Electronics by 94.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,693 shares of the technology company's stock valued at $213,000 after buying an additional 2,278 shares during the period. Bank of Montreal Can lifted its holdings in shares of Benchmark Electronics by 10.7% during the 4th quarter. Bank of Montreal Can now owns 5,100 shares of the technology company's stock valued at $232,000 after buying an additional 495 shares during the period. Finally, Bayesian Capital Management LP bought a new position in shares of Benchmark Electronics during the 4th quarter valued at $252,000. 92.29% of the stock is owned by institutional investors.

Benchmark Electronics Stock Performance

Shares of NYSE:BHE traded up $0.88 during midday trading on Tuesday, hitting $40.01. The company had a trading volume of 57,055 shares, compared to its average volume of 323,539. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.37 and a quick ratio of 1.48. The company has a market cap of $1.44 billion, a price-to-earnings ratio of 27.60 and a beta of 0.95. Benchmark Electronics, Inc. has a 12-month low of $30.73 and a 12-month high of $52.57. The company has a fifty day moving average of $38.37 and a two-hundred day moving average of $39.06.

Benchmark Electronics (NYSE:BHE - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The technology company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.50 by $0.02. The firm had revenue of $631.76 million during the quarter, compared to analyst estimates of $640.00 million. Benchmark Electronics had a return on equity of 6.37% and a net margin of 2.03%. Benchmark Electronics's revenue was down 6.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.55 EPS.

Benchmark Electronics Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Monday, June 30th were paid a $0.17 dividend. The ex-dividend date was Monday, June 30th. This represents a $0.68 annualized dividend and a dividend yield of 1.70%. Benchmark Electronics's dividend payout ratio (DPR) is 46.90%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on BHE shares. Needham & Company LLC lowered their price target on Benchmark Electronics from $50.00 to $48.00 and set a "buy" rating on the stock in a report on Wednesday, April 30th. Wall Street Zen raised Benchmark Electronics from a "hold" rating to a "buy" rating in a report on Saturday, June 21st. Finally, Lake Street Capital lowered their price target on Benchmark Electronics from $52.00 to $46.00 and set a "buy" rating on the stock in a report on Wednesday, April 30th.

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.