Heartland Advisors Inc. Invests $3,833,000 in Benchmark Electronics Inc. (BHE)
Heartland Advisors Inc. bought a new position in shares of Benchmark Electronics Inc. (NYSE:BHE) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 153,610 shares of the company’s stock, valued at approximately $3,833,000. Heartland Advisors Inc. owned 0.31% of Benchmark Electronics as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. O Shaughnessy Asset Management LLC raised its stake in shares of Benchmark Electronics by 10.6% in the second quarter. O Shaughnessy Asset Management LLC now owns 4,721 shares of the company’s stock worth $100,000 after buying an additional 451 shares in the last quarter. Schroder Investment Management Group raised its stake in shares of Benchmark Electronics by 122.2% in the second quarter. Schroder Investment Management Group now owns 6,000 shares of the company’s stock worth $127,000 after buying an additional 3,300 shares in the last quarter. PineBridge Investments L.P. raised its stake in shares of Benchmark Electronics by 5.3% in the second quarter. PineBridge Investments L.P. now owns 6,254 shares of the company’s stock worth $132,000 after buying an additional 316 shares in the last quarter. KBC Group NV raised its stake in shares of Benchmark Electronics by 138.0% in the third quarter. KBC Group NV now owns 5,921 shares of the company’s stock worth $148,000 after buying an additional 3,433 shares in the last quarter. Finally, Pacad Investment Ltd. bought a new stake in shares of Benchmark Electronics during the second quarter worth approximately $168,000. 97.26% of the stock is owned by institutional investors and hedge funds.
Benchmark Electronics Inc. (NYSE:BHE) traded up 0.52% during trading on Tuesday, reaching $28.85. The company had a trading volume of 274,198 shares. The firm has a market capitalization of $1.41 billion, a PE ratio of 17.11 and a beta of 0.75. The firm’s 50 day moving average price is $26.12 and its 200 day moving average price is $23.65. Benchmark Electronics Inc. has a 12-month low of $18.36 and a 12-month high of $29.15.
Benchmark Electronics (NYSE:BHE) last announced its earnings results on Thursday, October 20th. The company reported $0.36 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.01. Benchmark Electronics had a net margin of 3.65% and a return on equity of 5.23%. The business earned $574 million during the quarter, compared to the consensus estimate of $584.17 million. During the same quarter last year, the firm earned $0.41 earnings per share. The business’s revenue for the quarter was down 8.9% on a year-over-year basis. Equities research analysts forecast that Benchmark Electronics Inc. will post $1.39 EPS for the current year.
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BHE has been the topic of a number of research analyst reports. Zacks Investment Research downgraded Benchmark Electronics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 21st. B. Riley restated a “neutral” rating and issued a $23.00 target price on shares of Benchmark Electronics in a research note on Tuesday, October 18th. Needham & Company LLC boosted their target price on Benchmark Electronics from $26.00 to $28.00 and gave the stock a “buy” rating in a research note on Friday, October 21st. Cross Research downgraded Benchmark Electronics from a “hold” rating to a “sell” rating in a research note on Friday, October 21st. Finally, RBC Capital Markets restated a “sector perform” rating and issued a $26.00 target price (up previously from $24.00) on shares of Benchmark Electronics in a research note on Monday, October 24th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $25.20.
In other Benchmark Electronics news, insider Jon J. King sold 22,500 shares of the firm’s stock in a transaction that occurred on Tuesday, November 15th. The shares were sold at an average price of $27.17, for a total transaction of $611,325.00. Following the completion of the transaction, the insider now owns 45,074 shares of the company’s stock, valued at $1,224,660.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Donald Francis Adam sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 15th. The shares were sold at an average price of $27.37, for a total transaction of $547,400.00. Following the transaction, the chief financial officer now directly owns 98,841 shares of the company’s stock, valued at approximately $2,705,278.17. The disclosure for this sale can be found here. Company insiders own 2.40% of the company’s stock.
About Benchmark Electronics
Benchmark Electronics, Inc is a provider of integrated electronic manufacturing services. The Company 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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