Benchmark Electronics, Inc. (NYSE:BHE – Get Rating) declared a quarterly dividend on Monday, September 12th, Zacks reports. Stockholders of record on Friday, September 30th will be given a dividend of 0.165 per share by the technology company on Friday, October 14th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date of this dividend is Thursday, September 29th.
Benchmark Electronics has increased its dividend payment by an average of 3.0% annually over the last three years and has increased its dividend every year for the last 2 years. Benchmark Electronics has a payout ratio of 29.5% indicating that its dividend is sufficiently covered by earnings.
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Benchmark Electronics Stock Performance
Shares of BHE stock opened at $26.12 on Wednesday. The stock has a market capitalization of $918.38 million, a P/E ratio of 18.92 and a beta of 0.96. The company has a current ratio of 2.04, a quick ratio of 1.19 and a debt-to-equity ratio of 0.27. The firm's 50 day moving average is $25.74 and its 200 day moving average is $24.94. Benchmark Electronics has a 12 month low of $21.11 and a 12 month high of $29.11.
Wall Street Analyst Weigh In
A number of analysts recently commented on BHE shares. Needham & Company LLC upped their price target on shares of Benchmark Electronics from $32.00 to $34.00 and gave the company a "buy" rating in a research note on Thursday, August 4th. Fox Advisors started coverage on shares of Benchmark Electronics in a research note on Wednesday, August 24th. They set an "overweight" rating and a $35.00 price target on the stock.
Institutional Trading of Benchmark Electronics
Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. lifted its stake in Benchmark Electronics by 3.7% in the 1st quarter. BlackRock Inc. now owns 6,052,712 shares of the technology company's stock worth $151,562,000 after purchasing an additional 216,934 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Benchmark Electronics by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 4,066,880 shares of the technology company's stock worth $101,834,000 after buying an additional 215,272 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Benchmark Electronics by 3.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,905,862 shares of the technology company's stock worth $72,763,000 after buying an additional 83,980 shares during the last quarter. State Street Corp increased its holdings in shares of Benchmark Electronics by 0.3% in the 2nd quarter. State Street Corp now owns 1,402,909 shares of the technology company's stock worth $31,878,000 after buying an additional 4,565 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Benchmark Electronics by 0.3% in the 2nd quarter. Northern Trust Corp now owns 803,199 shares of the technology company's stock worth $18,120,000 after buying an additional 2,639 shares during the last quarter. 92.83% of the stock is currently owned by hedge funds and other institutional investors.
About Benchmark Electronics
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Benchmark Electronics, Inc, together with its subsidiaries, provides product design, engineering services, 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 technology solutions, as well as automation equipment design and build services.
Further Reading
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