Redmond Asset Management LLC lifted its position in Gentex Corporation (NASDAQ:GNTX) by 7.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 97,492 shares of the auto parts company’s stock after purchasing an additional 7,018 shares during the period. Redmond Asset Management LLC’s holdings in Gentex Corporation were worth $1,930,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of GNTX. Schroder Investment Management Group grew its holdings in shares of Gentex Corporation by 164.3% in the second quarter. Schroder Investment Management Group now owns 6,666,657 shares of the auto parts company’s stock worth $124,467,000 after purchasing an additional 4,144,300 shares during the last quarter. Wedge Capital Management L L P NC bought a new position in shares of Gentex Corporation in the third quarter worth approximately $20,369,000. BlackRock Inc. grew its holdings in shares of Gentex Corporation by 4.4% in the second quarter. BlackRock Inc. now owns 24,223,258 shares of the auto parts company’s stock worth $459,513,000 after purchasing an additional 1,009,789 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Gentex Corporation by 22.9% in the second quarter. Dimensional Fund Advisors LP now owns 4,357,501 shares of the auto parts company’s stock worth $82,659,000 after acquiring an additional 813,219 shares during the period. Finally, Riverbridge Partners LLC lifted its stake in Gentex Corporation by 12.6% in the third quarter. Riverbridge Partners LLC now owns 5,273,063 shares of the auto parts company’s stock worth $104,407,000 after acquiring an additional 592,011 shares during the period. Hedge funds and other institutional investors own 80.83% of the company’s stock.
In other Gentex Corporation news, CFO Steven R. Downing sold 8,000 shares of the firm’s stock in a transaction on Wednesday, September 27th. The stock was sold at an average price of $19.70, for a total transaction of $157,600.00. Following the completion of the transaction, the chief financial officer now owns 47,362 shares of the company’s stock, valued at $933,031.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kevin C. Nash sold 4,320 shares of the firm’s stock in a transaction on Wednesday, September 27th. The shares were sold at an average price of $19.70, for a total value of $85,104.00. Following the transaction, the insider now directly owns 30,732 shares of the company’s stock, valued at approximately $605,420.40. The disclosure for this sale can be found here. Company insiders own 2.50% of the company’s stock.
Shares of Gentex Corporation (GNTX) traded down $0.25 during trading on Monday, reaching $18.67. The company’s stock had a trading volume of 2,541,500 shares, compared to its average volume of 2,063,978. The stock has a market capitalization of $5,300.00, a price-to-earnings ratio of 14.82, a P/E/G ratio of 1.52 and a beta of 1.21. Gentex Corporation has a fifty-two week low of $16.59 and a fifty-two week high of $22.12.
Gentex Corporation (NASDAQ:GNTX) last announced its quarterly earnings data on Friday, October 20th. The auto parts company reported $0.31 EPS for the quarter, meeting the consensus estimate of $0.31. The business had revenue of $438.63 million during the quarter, compared to analyst estimates of $452.42 million. Gentex Corporation had a return on equity of 18.45% and a net margin of 20.80%. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.32 earnings per share. sell-side analysts forecast that Gentex Corporation will post 1.27 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 18th. Shareholders of record on Friday, October 6th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.14%. The ex-dividend date was Thursday, October 5th. Gentex Corporation’s dividend payout ratio is currently 31.75%.
Gentex Corporation declared that its Board of Directors has approved a stock repurchase plan on Wednesday, August 23rd that permits the company to buyback 15,000,000 shares. This buyback authorization permits the auto parts company to reacquire shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its stock is undervalued.
GNTX has been the subject of a number of research analyst reports. Zacks Investment Research lowered Gentex Corporation from a “buy” rating to a “hold” rating in a research note on Monday, October 23rd. BidaskClub raised Gentex Corporation from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 26th. Robert W. Baird dropped their price target on Gentex Corporation from $22.00 to $21.00 and set an “outperform” rating for the company in a research note on Monday, October 23rd. FBR & Co reaffirmed a “buy” rating and issued a $25.00 price target on shares of Gentex Corporation in a research note on Wednesday, October 18th. Finally, B. Riley reaffirmed a “buy” rating on shares of Gentex Corporation in a research note on Wednesday, November 1st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. Gentex Corporation currently has an average rating of “Hold” and an average target price of $22.06.
Gentex Corporation Profile
Gentex Corporation designs and manufactures automatic-dimming rearview mirrors and electronics for the automotive industry, dimmable aircraft windows for the aviation industry, and commercial smoke alarms and signaling devices for the fire protection industry. The Company’s business segment involves designing, developing, manufacturing and marketing interior and exterior automatic-dimming automotive rearview mirrors that utilize electrochromic technology to dim in proportion to the amount of headlight glare from trailing vehicle headlamps.
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