Gentex Corporation (NASDAQ:GNTX) Shares Bought by Well Done LLC

Well Done LLC increased its stake in shares of Gentex Corporation (NASDAQ:GNTX) by 0.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 807,141 shares of the auto parts company’s stock after buying an additional 1,394 shares during the period. Gentex Corporation accounts for 5.3% of Well Done LLC’s investment portfolio, making the stock its 4th largest position. Well Done LLC’s holdings in Gentex Corporation were worth $15,311,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in GNTX. Russell Investments Group Ltd. acquired a new position in Gentex Corporation during the fourth quarter valued at $1,515,000. Quadrature Capital Ltd acquired a new position in Gentex Corporation during the fourth quarter valued at $754,000. Teachers Advisors LLC increased its position in Gentex Corporation by 17.8% in the fourth quarter. Teachers Advisors LLC now owns 392,756 shares of the auto parts company’s stock valued at $7,733,000 after buying an additional 59,358 shares in the last quarter. Highbridge Capital Management LLC acquired a new position in Gentex Corporation during the fourth quarter valued at $300,000. Finally, Raymond James Trust N.A. acquired a new position in Gentex Corporation during the first quarter valued at $330,000. Institutional investors and hedge funds own 82.74% of the company’s stock.

Shares of Gentex Corporation (NASDAQ GNTX) traded down 7.40% during trading on Friday, reaching $17.28. 7,617,427 shares of the company’s stock were exchanged. The stock has a market capitalization of $4.95 billion, a price-to-earnings ratio of 13.71 and a beta of 1.19. The stock has a 50 day moving average price of $18.72 and a 200-day moving average price of $20.09. Gentex Corporation has a 52 week low of $16.06 and a 52 week high of $22.12.

Gentex Corporation (NASDAQ:GNTX) last announced its quarterly earnings data on Friday, July 21st. The auto parts company reported $0.31 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by $0.01. The company had revenue of $443.10 million for the quarter, compared to analysts’ expectations of $446.36 million. Gentex Corporation had a return on equity of 19.39% and a net margin of 21.13%. The company’s revenue was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.30 earnings per share. Analysts predict that Gentex Corporation will post $1.30 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 19th. Stockholders of record on Thursday, July 6th were issued a dividend of $0.10 per share. This is a positive change from Gentex Corporation’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a dividend yield of 2.31%. The ex-dividend date of this dividend was Monday, July 3rd. Gentex Corporation’s dividend payout ratio is presently 31.50%.

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Several equities analysts have recently weighed in on GNTX shares. Zacks Investment Research downgraded shares of Gentex Corporation from a “hold” rating to a “sell” rating in a research note on Monday, June 26th. Wellington Shields downgraded shares of Gentex Corporation from a “gradually accumulate” rating to a “hold” rating in a research note on Thursday, May 4th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $23.10.

In related news, insider Kevin C. Nash sold 1,694 shares of the firm’s stock in a transaction that occurred on Tuesday, April 25th. The shares were sold at an average price of $20.65, for a total value of $34,981.10. Following the transaction, the insider now owns 36,746 shares in the company, valued at $758,804.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Frederick A. Sotok sold 19,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 27th. The shares were sold at an average price of $20.84, for a total transaction of $395,960.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 45,610 shares of company stock worth $926,429. Insiders own 2.50% of the company’s stock.

Gentex Corporation Company 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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