Benchmark Electronics Reverses Early Morning Declines, Company Delivers Letter To Investors

Shares of Benchmark Electronics, Inc. (NYSE: BHE) were highly volatile during Tuesday's trading session.

After opening for trading at $22.10, shares of Benchmark sank to an intra-day low of $21.82. However, the stock quickly recovered all of its early morning declines and was trading higher by more than 1.50 percent at $22.56 on the day.

Benchmark Electronics issued a filing of proxy material, including a letter to shareholders. The company is urging its investors to vote against Engaged Capital's slate of three nominees for election as directors and unanimously vote for the election of each of the Board of Directors' nominees.

Engaged Capital, an activist investment firm and shareholder, continues to push the company to increase its share buyback program, among other alternatives to increase the value of shares.

Benchmark Electronic's annual meeting of shareholders is scheduled for Wednesday, May 11, 2016 at 9:00 a.m. Houston time.