Benchmark Electronics (BHE) Declares $0.16 Dividend

Benchmark Electronics said on March 13, 2023 that its board of directors declared a regular quarterly dividend of $0.16 per share ($0.66 annualized). Previously, the company paid $0.16 per share.

Shares must be purchased before the ex-div date of March 30, 2023 to qualify for the dividend. Shareholders of record as of March 31, 2023 will receive the payment on April 13, 2023.

At the current share price of $23.44 / share, the stock's dividend yield is 2.82%. Looking back five years and taking a sample every week, the average dividend yield has been 2.47%, the lowest has been 1.68%, and the highest has been 3.62%. The standard deviation of yields is 0.36 (n=236).

The current dividend yield is 0.97 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is 0.34. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is 0.03%, demonstrating that it has increased its dividend over time.

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Analyst Price Forecast Suggests 56.66% Upside

As of March 14, 2023, the average one-year price target for Benchmark Electronics is $36.72. The forecasts range from a low of $33.33 to a high of $44.10. The average price target represents an increase of 56.66% from its latest reported closing price of $23.44.

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The projected annual revenue for Benchmark Electronics is $2,942MM, an increase of 1.93%. The projected annual non-GAAP EPS is $2.40.

What is the Fund Sentiment?

There are 490 funds or institutions reporting positions in Benchmark Electronics. This is an increase of 9 owner(s) or 1.87% in the last quarter. Average portfolio weight of all funds dedicated to BHE is 0.12%, a decrease of 13.44%. Total shares owned by institutions decreased in the last three months by 1.49% to 41,717K shares. The put/call ratio of BHE is 0.16, indicating a bullish outlook.

What are Large Shareholders Doing?

Franklin Resources holds 3,086K shares representing 8.77% ownership of the company. In it's prior filing, the firm reported owning 3,615K shares, representing a decrease of 17.17%. The firm decreased its portfolio allocation in BHE by 80.64% over the last quarter.

IJR - iShares Core S&P Small-Cap ETF holds 2,607K shares representing 7.41% ownership of the company. In it's prior filing, the firm reported owning 2,571K shares, representing an increase of 1.39%. The firm decreased its portfolio allocation in BHE by 0.63% over the last quarter.

FRVLX - Franklin Small Cap Value Fund holds 2,565K shares representing 7.29% ownership of the company. No change in the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,049K shares representing 2.98% ownership of the company. In it's prior filing, the firm reported owning 1,023K shares, representing an increase of 2.45%. The firm increased its portfolio allocation in BHE by 1.97% over the last quarter.

DFSVX - U.s. Small Cap Value Portfolio - Institutional Class holds 904K shares representing 2.57% ownership of the company. In it's prior filing, the firm reported owning 895K shares, representing an increase of 1.04%. The firm increased its portfolio allocation in BHE by 11.67% over the last quarter.

Benchmark Electronics Background Information
(This description is provided by the company.)

Benchmark provides comprehensive solutions across the entire product life cycle by leading through its innovative technology and engineering design services, leveraging its optimized global supply chain and delivering world-class manufacturing services in the following industries: commercial aerospace, defense, advanced computing, next generation telecommunications, complex industrials, medical, and semiconductor capital equipment. Benchmark's global operations include facilities in seven countries and its common shares trade on the New York Stock Exchange under the symbol BHE.

This story originally appeared on Fintel.