American Research & Management Co. decreased its position in shares of Gentex Corporation (NASDAQ:GNTX) by 2.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 28,800 shares of the auto parts company’s stock after selling 800 shares during the period. American Research & Management Co.’s holdings in Gentex Corporation were worth $546,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in GNTX. Quadrant Capital Group LLC boosted its position in shares of Gentex Corporation by 9.1% in the first quarter. Quadrant Capital Group LLC now owns 5,660 shares of the auto parts company’s stock valued at $117,000 after buying an additional 471 shares during the period. Asset Management One Co. Ltd. boosted its stake in Gentex Corporation by 11.4% in the first quarter. Asset Management One Co. Ltd. now owns 8,500 shares of the auto parts company’s stock worth $181,000 after buying an additional 870 shares during the last quarter. BB&T Corp purchased a new stake in Gentex Corporation during the first quarter worth approximately $200,000. Reynders McVeigh Capital Management LLC purchased a new stake in Gentex Corporation during the first quarter worth approximately $204,000. Finally, LVM Capital Management Ltd. MI purchased a new stake in Gentex Corporation during the second quarter worth approximately $194,000. 82.40% of the stock is currently owned by hedge funds and other institutional investors.
Gentex Corporation (NASDAQ:GNTX) traded up 0.17% on Friday, reaching $17.30. 1,445,049 shares of the company’s stock traded hands. Gentex Corporation has a 52 week low of $16.06 and a 52 week high of $22.12. The stock has a market capitalization of $4.94 billion, a price-to-earnings ratio of 13.73 and a beta of 1.18. The firm has a 50-day moving average price of $17.99 and a 200-day moving average price of $19.70.
Gentex Corporation (NASDAQ:GNTX) last issued its earnings results on Friday, July 21st. The auto parts company reported $0.31 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by $0.01. The company had revenue of $443.10 million during the quarter, compared to analysts’ expectations of $446.36 million. Gentex Corporation had a net margin of 21.01% and a return on equity of 18.95%. The firm’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.30 earnings per share. On average, analysts predict that Gentex Corporation will post $1.27 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, July 19th. Shareholders of record on Thursday, July 6th were issued a $0.10 dividend. This is a boost from Gentex Corporation’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a 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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A number of equities research analysts have commented on GNTX shares. Wellington Shields cut shares of Gentex Corporation from a “gradually accumulate” rating to a “hold” rating in a research note on Thursday, May 4th. Zacks Investment Research cut shares of Gentex Corporation from a “hold” rating to a “sell” rating in a research note on Monday, June 26th. BidaskClub cut shares of Gentex Corporation from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 27th. FBR & Co reiterated an “outperform” rating and set a $25.00 price objective on shares of Gentex Corporation in a research report on Monday, July 24th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $22.00 price objective (down previously from $25.00) on shares of Gentex Corporation in a research report on Monday, July 24th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $21.75.
In other Gentex Corporation news, Chairman Fred Bauer sold 239,400 shares of the company’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $17.33, for a total value of $4,148,802.00. Following the completion of the sale, the chairman now directly owns 5,771,128 shares in the company, valued at approximately $100,013,648.24. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director John A. Mulder sold 10,000 shares of the stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $19.22, for a total value of $192,200.00. The disclosure for this sale can be found here. 2.50% of the stock is owned by corporate insiders.
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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