Brandywine Global Investment Management LLC trimmed its stake in Benchmark Electronics, Inc. (NYSE:BHE) by 12.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 186,305 shares of the technology company’s stock after selling 26,406 shares during the quarter. Brandywine Global Investment Management LLC owned about 0.37% of Benchmark Electronics worth $5,422,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in BHE. Nationwide Fund Advisors grew its holdings in Benchmark Electronics by 31.1% in the third quarter. Nationwide Fund Advisors now owns 188,559 shares of the technology company’s stock valued at $6,439,000 after purchasing an additional 44,712 shares during the period. Crossmark Global Holdings Inc. purchased a new stake in Benchmark Electronics in the third quarter valued at approximately $574,000. BNP Paribas Arbitrage SA grew its holdings in Benchmark Electronics by 30.1% in the third quarter. BNP Paribas Arbitrage SA now owns 26,570 shares of the technology company’s stock valued at $907,000 after purchasing an additional 6,143 shares during the period. Municipal Employees Retirement System of Michigan grew its holdings in Benchmark Electronics by 59.2% in the third quarter. Municipal Employees Retirement System of Michigan now owns 18,660 shares of the technology company’s stock valued at $637,000 after purchasing an additional 6,940 shares during the period. Finally, Rhumbline Advisers grew its holdings in Benchmark Electronics by 1.7% in the third quarter. Rhumbline Advisers now owns 105,938 shares of the technology company’s stock valued at $3,618,000 after purchasing an additional 1,750 shares during the period. Hedge funds and other institutional investors own 98.03% of the company’s stock.
Shares of Benchmark Electronics, Inc. (NYSE:BHE) opened at $32.15 on Friday. Benchmark Electronics, Inc. has a twelve month low of $27.05 and a twelve month high of $35.80. The stock has a market cap of $1,542.27, a P/E ratio of -48.71 and a beta of 0.39. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.38 and a quick ratio of 2.55.
Benchmark Electronics announced that its board has initiated a stock repurchase program on Wednesday, March 7th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the technology company to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 11th. Shareholders of record on Thursday, March 29th will be paid a dividend of $0.15 per share. The ex-dividend date is Wednesday, March 28th. This represents a $0.60 annualized dividend and a yield of 1.87%.
Separately, TheStreet downgraded shares of Benchmark Electronics from a “b-” rating to a “c” rating in a report on Thursday, February 8th. One equities research analyst has rated the stock with a sell rating and three have given a hold rating to the company. Benchmark Electronics presently has an average rating of “Hold” and a consensus price target of $36.67.
TRADEMARK VIOLATION NOTICE: This article was reported by StockNewsTimes and is the sole property of of StockNewsTimes. If you are viewing this article on another website, it was copied illegally and reposted in violation of US & international copyright & trademark law. The correct version of this article can be viewed at https://stocknewstimes.com/2018/03/18/brandywine-global-investment-management-llc-has-5-42-million-stake-in-benchmark-electronics-inc-bhe.html.
Benchmark Electronics Profile
Benchmark Electronics, Inc is a provider of electronic manufacturing services. The Company operates through three segments: the Americas, Asia and Europe. It 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.
Want to see what other hedge funds are holding BHE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Benchmark Electronics, Inc. (NYSE:BHE).
Receive News & Ratings for Benchmark Electronics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Benchmark Electronics and related companies with MarketBeat.com's FREE daily email newsletter.