Bank of New York Mellon Corp Sells 15,409 Shares of Benchmark Electronics, Inc. (NYSE:BHE)

Bank of New York Mellon Corp trimmed its stake in Benchmark Electronics, Inc. (NYSE:BHE - Free Report) by 4.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 336,064 shares of the technology company's stock after selling 15,409 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.93% of Benchmark Electronics worth $12,781,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Raymond James Financial Inc. bought a new position in shares of Benchmark Electronics during the 4th quarter worth approximately $4,145,000. Swiss National Bank raised its holdings in Benchmark Electronics by 1.0% in the 4th quarter. Swiss National Bank now owns 71,000 shares of the technology company's stock valued at $3,223,000 after acquiring an additional 700 shares in the last quarter. Natixis Advisors LLC increased its stake in shares of Benchmark Electronics by 3.2% in the 4th quarter. Natixis Advisors LLC now owns 28,108 shares of the technology company's stock valued at $1,276,000 after purchasing an additional 875 shares during the last quarter. Teacher Retirement System of Texas increased its stake in shares of Benchmark Electronics by 10.0% in the 4th quarter. Teacher Retirement System of Texas now owns 60,695 shares of the technology company's stock valued at $2,756,000 after purchasing an additional 5,514 shares during the last quarter. Finally, Summit Global Investments bought a new position in shares of Benchmark Electronics in the 4th quarter valued at $242,000. 92.29% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Lake Street Capital decreased their price target on Benchmark Electronics from $52.00 to $46.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. Needham & Company LLC decreased their price target on Benchmark Electronics from $50.00 to $48.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. Finally, Wall Street Zen upgraded Benchmark Electronics from a "hold" rating to a "buy" rating in a research report on Saturday, June 21st.

Benchmark Electronics Trading Down 2.8%

Shares of Benchmark Electronics stock traded down $1.12 on Thursday, hitting $39.32. 42,716 shares of the company's stock traded hands, compared to its average volume of 326,024. Benchmark Electronics, Inc. has a one year low of $30.73 and a one year high of $52.57. 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 fifty day moving average of $38.28 and a two-hundred day moving average of $39.30. The company has a market capitalization of $1.42 billion, a price-to-earnings ratio of 27.15 and a beta of 0.95.

Benchmark Electronics (NYSE:BHE - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The technology company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.02. The business had revenue of $631.76 million for 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%. The company's quarterly revenue was down 6.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.55 earnings per share.

Benchmark Electronics Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Monday, June 30th were issued a $0.17 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $0.68 annualized dividend and a yield of 1.73%. Benchmark Electronics's payout ratio is currently 46.90%.

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.