Bayesian Capital Management LP acquired a new position in Benchmark Electronics, Inc. (NYSE:BHE) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 8,797 shares of the technology company’s stock, valued at approximately $263,000.
Several other institutional investors have also bought and sold shares of BHE. Elkfork Partners LLC purchased a new position in Benchmark Electronics in the 4th quarter worth $195,000. Koch Industries Inc. purchased a new position in Benchmark Electronics in the 1st quarter worth $245,000. Cambria Investment Management L.P. purchased a new position in Benchmark Electronics in the 1st quarter worth $266,000. Verition Fund Management LLC purchased a new position in Benchmark Electronics in the 4th quarter worth $274,000. Finally, Employees Retirement System of Texas purchased a new position in Benchmark Electronics in the 4th quarter worth $378,000. 95.57% of the stock is owned by hedge funds and other institutional investors.
Shares of Benchmark Electronics opened at $29.30 on Wednesday, Marketbeat reports. The firm has a market capitalization of $1.40 billion, a P/E ratio of 18.15 and a beta of 0.39. The company has a quick ratio of 2.60, a current ratio of 3.23 and a debt-to-equity ratio of 0.22. Benchmark Electronics, Inc. has a 1 year low of $25.75 and a 1 year high of $35.80.
Benchmark Electronics (NYSE:BHE) last issued its earnings results on Wednesday, April 25th. The technology company reported $0.41 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.05. The company had revenue of $608.00 million during the quarter, compared to analyst estimates of $593.70 million. Benchmark Electronics had a positive return on equity of 6.17% and a negative net margin of 2.60%. The firm’s quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter last year, the business posted $0.34 EPS.
The company also recently announced a quarterly dividend, which will be paid on Thursday, July 12th. Investors of record on Friday, June 29th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Thursday, June 28th. This represents a $0.60 dividend on an annualized basis and a yield of 2.05%. Benchmark Electronics’s dividend payout ratio (DPR) is 37.27%.
Benchmark Electronics declared that its Board of Directors has initiated a share buyback program on Wednesday, March 7th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the technology company to reacquire shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
About Benchmark Electronics
Benchmark Electronics, Inc, together with its subsidiaries, provides engineering services, integrated technology solutions, and manufacturing services in the Americas, Asia, and Europe. The company offers engineering services and technology solutions, including new product design, prototype, testing, and related engineering services; and custom testing, and automation equipment design and build services.
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