Mason Street Advisors LLC Takes Position in Benchmark Electronics Inc. (BHE)
Mason Street Advisors LLC acquired a new position in shares of Benchmark Electronics Inc. (NYSE:BHE) during the second quarter, Holdings Channel reports. The fund acquired 9,640 shares of the company’s stock, valued at approximately $204,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in BHE. Royal Bank of Canada raised its stake in shares of Benchmark Electronics by 281.5% in the first quarter. Royal Bank of Canada now owns 19,176 shares of the company’s stock valued at $442,000 after buying an additional 14,150 shares during the last quarter. Aristotle Capital Boston LLC raised its stake in shares of Benchmark Electronics by 2.2% in the first quarter. Aristotle Capital Boston LLC now owns 142,945 shares of the company’s stock valued at $3,295,000 after buying an additional 3,078 shares during the last quarter. Skyline Asset Management LP raised its stake in shares of Benchmark Electronics by 3.6% in the first quarter. Skyline Asset Management LP now owns 984,339 shares of the company’s stock valued at $22,689,000 after buying an additional 34,300 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Benchmark Electronics by 91.9% in the first quarter. Renaissance Technologies LLC now owns 519,200 shares of the company’s stock valued at $11,968,000 after buying an additional 248,600 shares during the last quarter. Finally, HBK Investments L P purchased a new stake in shares of Benchmark Electronics during the first quarter valued at approximately $588,000. Institutional investors and hedge funds own 96.17% of the company’s stock.
Shares of Benchmark Electronics Inc. (NYSE:BHE) opened at 25.19 on Thursday. The firm’s 50-day moving average price is $24.59 and its 200 day moving average price is $22.47. The company has a market cap of $1.23 billion, a price-to-earnings ratio of 15.30 and a beta of 0.72. Benchmark Electronics Inc. has a 12-month low of $18.36 and a 12-month high of $25.74.
Benchmark Electronics (NYSE:BHE) last posted its earnings results on Thursday, July 21st. The company reported $0.31 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by $0.01. Benchmark Electronics had a return on equity of 5.52% and a net margin of 3.51%. The firm earned $579 million during the quarter, compared to the consensus estimate of $582.89 million. During the same period in the previous year, the company posted $0.42 EPS. The firm’s revenue for the quarter was down 12.8% compared to the same quarter last year. On average, analysts predict that Benchmark Electronics Inc. will post $1.34 earnings per share for the current year.
BHE has been the subject of several research analyst reports. Zacks Investment Research lowered Benchmark Electronics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 21st. TheStreet raised Benchmark Electronics from a “hold” rating to a “buy” rating in a report on Monday, July 25th. Needham & Company LLC lifted their price objective on Benchmark Electronics from $23.00 to $26.00 and gave the stock a “buy” rating in a report on Friday, July 22nd. Finally, B. Riley reaffirmed a “neutral” rating and issued a $23.00 price objective on shares of Benchmark Electronics in a report on Monday, July 25th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $24.00.
In related news, insider Jon J. King sold 12,774 shares of the stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $23.57, for a total value of $301,083.18. Following the sale, the insider now directly owns 40,624 shares in the company, valued at approximately $957,507.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Gayla J. Delly sold 25,497 shares of the stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $24.22, for a total transaction of $617,537.34. Following the completion of the sale, the chief executive officer now owns 276,264 shares in the company, valued at $6,691,114.08. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by insiders.
Benchmark Electronics Company Profile
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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