Palo Capital Inc. raised its position in Gentex Corporation (NASDAQ:GNTX) by 1.1% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 143,737 shares of the auto parts company’s stock after buying an additional 1,607 shares during the period. Gentex Corporation makes up 1.5% of Palo Capital Inc.’s holdings, making the stock its 18th largest position. Palo Capital Inc. owned 0.05% of Gentex Corporation worth $2,727,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Quadrant Capital Group LLC boosted its stake 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 worth $117,000 after buying an additional 471 shares during the period. Asset Management One Co. Ltd. increased its position in shares of 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 valued at $181,000 after buying an additional 870 shares in the last quarter. BB&T Corp purchased a new position in shares of Gentex Corporation during the first quarter valued at about $200,000. Reynders McVeigh Capital Management LLC purchased a new position in shares of Gentex Corporation during the first quarter valued at about $204,000. Finally, LVM Capital Management Ltd. MI purchased a new position in shares of Gentex Corporation during the second quarter valued at about $194,000. Institutional investors and hedge funds own 82.40% of the company’s stock.
Shares of Gentex Corporation (NASDAQ GNTX) traded up 0.17% during trading on Friday, hitting $17.30. 1,445,049 shares of the company’s stock were exchanged. Gentex Corporation has a 12-month low of $16.06 and a 12-month high of $22.12. The company has a market cap of $4.94 billion, a P/E ratio of 13.73 and a beta of 1.18. The company has a 50-day moving average of $17.99 and a 200-day moving average 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 Zacks’ consensus estimate of $0.32 by $0.01. Gentex Corporation had a return on equity of 18.95% and a net margin of 21.01%. The firm had revenue of $443.10 million for the quarter, compared to analysts’ expectations of $446.36 million. During the same quarter in the previous year, the firm posted $0.30 EPS. The firm’s revenue for the quarter was up 4.6% compared to the same quarter last year. On average, equities analysts expect that Gentex Corporation will post $1.27 earnings per share for the current fiscal year.
The company also recently announced 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. The ex-dividend date of this dividend was Monday, July 3rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.31%. This is a boost from Gentex Corporation’s previous quarterly dividend of $0.09. Gentex Corporation’s payout ratio is presently 31.50%.
A number of brokerages recently weighed in on GNTX. Zacks Investment Research upgraded shares of Gentex Corporation from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a research report on Wednesday, April 26th. Wellington Shields downgraded shares of Gentex Corporation from a “gradually accumulate” rating to a “hold” rating in a research report on Thursday, May 4th. FBR & Co reiterated an “outperform” rating and issued a $25.00 price target on shares of Gentex Corporation in a research report on Monday, July 24th. Craig Hallum downgraded shares of Gentex Corporation from a “buy” rating to a “hold” rating and set a $18.00 price target on the stock. in a research report on Monday, July 24th. Finally, BidaskClub cut shares of Gentex Corporation from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 27th. Two analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $21.75.
In related news, Chairman Fred Bauer sold 239,400 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $17.33, for a total transaction of $4,148,802.00. Following the transaction, the chairman now directly owns 5,771,128 shares of the company’s stock, valued at approximately $100,013,648.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John A. Mulder sold 10,000 shares of the business’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 value of $192,200.00. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by 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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