Alpha Windward LLC raised its stake in shares of Gentex Corporation (NASDAQ:GNTX) by 2.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 23,880 shares of the auto parts company’s stock after buying an additional 540 shares during the period. Alpha Windward LLC’s holdings in Gentex Corporation were worth $453,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Profund Advisors LLC raised its stake in Gentex Corporation by 5.6% in the first quarter. Profund Advisors LLC now owns 40,105 shares of the auto parts company’s stock worth $855,000 after buying an additional 2,119 shares in the last quarter. Hollencrest Securities LLC purchased a new stake in Gentex Corporation during the first quarter worth $297,000. Nationwide Fund Advisors raised its stake in Gentex Corporation by 0.8% in the first quarter. Nationwide Fund Advisors now owns 479,673 shares of the auto parts company’s stock worth $10,231,000 after buying an additional 3,649 shares in the last quarter. Cape Cod Five Cents Savings Bank purchased a new stake in Gentex Corporation during the first quarter worth $919,000. Finally, Reliance Trust Co. of Delaware purchased a new stake in Gentex Corporation during the first quarter worth $254,000. Institutional investors and hedge funds own 81.46% of the company’s stock.
Shares of Gentex Corporation (NASDAQ GNTX) traded down 2.32% during trading on Tuesday, hitting $17.28. 1,710,955 shares of the company’s stock were exchanged. Gentex Corporation has a one year low of $16.06 and a one year high of $22.12. The stock has a market cap of $4.93 billion, a P/E ratio of 13.71 and a beta of 1.18. The firm has a 50-day moving average price of $17.93 and a 200-day moving average price of $19.61.
Gentex Corporation (NASDAQ:GNTX) last released its quarterly earnings data on Friday, July 21st. The auto parts company reported $0.31 earnings per share (EPS) for the quarter, missing the 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%. Gentex Corporation’s quarterly revenue was up 4.6% on a year-over-year basis. During the same period last year, the firm earned $0.30 earnings per share. Equities research analysts expect that Gentex Corporation will post $1.27 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 19th. Shareholders of record on Thursday, July 6th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.31%. This is a boost from Gentex Corporation’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Monday, July 3rd. Gentex Corporation’s payout ratio is 31.50%.
A number of analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Gentex Corporation from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a report on Wednesday, April 26th. Wellington Shields lowered shares of Gentex Corporation from a “gradually accumulate” rating to a “hold” rating in a report on Thursday, May 4th. BidaskClub lowered shares of Gentex Corporation from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th. FBR & Co reissued an “outperform” rating and issued a $25.00 price target on shares of Gentex Corporation in a research note on Monday, July 24th. Finally, Craig Hallum downgraded shares of Gentex Corporation from a “buy” rating to a “hold” rating and set a $18.00 price target for the company. in a research note on Monday, July 24th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. Gentex Corporation has an average rating of “Hold” and an average target price of $21.75.
In other news, Chairman Fred Bauer sold 239,400 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The shares were 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 owns 5,771,128 shares of the company’s stock, valued at approximately $100,013,648.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John A. Mulder sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $19.22, for a total transaction of $192,200.00. The disclosure for this sale can be found here. 2.50% of the stock is owned by insiders.
About Gentex Corporation
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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