Picton Mahoney Asset Management Grows Stock Holdings in Benchmark Electronics, Inc. (NYSE:BHE)

Picton Mahoney Asset Management raised its position in shares of Benchmark Electronics, Inc. (NYSE:BHE) by 100,677.8% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 27,210 shares of the technology company’s stock after buying an additional 27,183 shares during the period. Picton Mahoney Asset Management’s holdings in Benchmark Electronics were worth $1,035,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Knights of Columbus Asset Advisors LLC lifted its position in shares of Benchmark Electronics by 2.7% during the first quarter. Knights of Columbus Asset Advisors LLC now owns 49,940 shares of the technology company’s stock valued at $1,899,000 after buying an additional 1,319 shares during the last quarter. Royce & Associates LP lifted its position in shares of Benchmark Electronics by 30.3% during the first quarter. Royce & Associates LP now owns 47,377 shares of the technology company’s stock valued at $1,802,000 after buying an additional 11,009 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Benchmark Electronics during the first quarter valued at about $558,000. Allianz Asset Management GmbH lifted its position in shares of Benchmark Electronics by 35.5% during the first quarter. Allianz Asset Management GmbH now owns 423,405 shares of the technology company’s stock valued at $16,102,000 after buying an additional 111,022 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of Benchmark Electronics by 227.9% during the first quarter. Victory Capital Management Inc. now owns 128,281 shares of the technology company’s stock valued at $4,879,000 after buying an additional 89,154 shares during the last quarter. 92.29% of the stock is owned by hedge funds and other institutional investors.

Benchmark Electronics Stock Performance

Shares of Benchmark Electronics stock opened at $39.17 on Thursday. The firm has a market capitalization of $1.41 billion, a P/E ratio of 27.01 and a beta of 0.95. The company has a quick ratio of 1.48, a current ratio of 2.37 and a debt-to-equity ratio of 0.24. The company has a 50 day moving average price of $38.49 and a 200 day moving average price of $39.07. Benchmark Electronics, Inc. has a 52 week low of $30.73 and a 52 week high of $52.57.

Benchmark Electronics (NYSE:BHE) last announced its quarterly earnings data on Wednesday, July 30th. The technology company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.54 by $0.01. The firm had revenue of $642.34 million during the quarter, compared to analyst estimates of $638.67 million. Benchmark Electronics had a net margin of 2.03% and a return on equity of 6.37%. Benchmark Electronics’s revenue was down 3.6% on a year-over-year basis. During the same period last year, the firm posted $0.57 EPS.

Benchmark Electronics Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Monday, June 30th were given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.74%. The ex-dividend date of this dividend was Monday, June 30th. Benchmark Electronics’s payout ratio is currently 46.90%.

Wall Street Analysts Forecast Growth

Several research firms have commented on BHE. Lake Street Capital decreased their price target on shares of Benchmark Electronics from $52.00 to $46.00 and set a “buy” rating for the company in a research report on Wednesday, April 30th. Needham & Company LLC decreased their price target on shares of Benchmark Electronics from $50.00 to $48.00 and set a “buy” rating for the company in a research report on Wednesday, April 30th. Finally, Wall Street Zen raised shares of Benchmark Electronics from a “hold” rating to a “buy” rating in a research report on Saturday, June 21st.

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.