OxFORD Asset Management LLP bought a new position in shares of Gentex Corporation (NASDAQ:GNTX) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 60,214 shares of the auto parts company’s stock, valued at approximately $1,142,000.
Other large investors have also bought and sold shares of the company. Northwestern Mutual Wealth Management Co. lifted its position in shares of Gentex Corporation by 7.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,293 shares of the auto parts company’s stock worth $100,000 after purchasing an additional 368 shares during the period. Asset Management One Co. Ltd. lifted its position in shares of Gentex Corporation by 11.4% in the 1st quarter. Asset Management One Co. Ltd. now owns 8,500 shares of the auto parts company’s stock worth $181,000 after purchasing an additional 870 shares during the period. LVM Capital Management Ltd. MI acquired a new position in shares of Gentex Corporation in the 2nd quarter worth approximately $194,000. Sheaff Brock Investment Advisors LLC acquired a new position in shares of Gentex Corporation in the 2nd quarter worth approximately $194,000. Finally, HL Financial Services LLC acquired a new position in shares of Gentex Corporation in the 2nd quarter worth approximately $202,000. Institutional investors and hedge funds own 80.83% of the company’s stock.
In other Gentex Corporation news, insider Kevin C. Nash sold 4,320 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 $85,104.00. Following the completion of the transaction, the insider now owns 30,732 shares of the company’s stock, valued at $605,420.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Fred Bauer sold 239,400 shares of the firm’s stock in a transaction 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 transaction, the chairman now directly owns 5,771,128 shares of the company’s stock, valued at approximately $100,013,648.24. The disclosure for this sale can be found here. Insiders sold 251,720 shares of company stock valued at $4,391,506 in the last ninety days. 2.50% of the stock is currently owned by insiders.
Shares of Gentex Corporation (GNTX) opened at 19.83 on Friday. The company has a market cap of $5.66 billion, a price-to-earnings ratio of 15.74 and a beta of 1.18. The stock has a 50 day moving average of $19.18 and a 200 day moving average of $19.01. Gentex Corporation has a 1-year low of $16.06 and a 1-year high of $22.12.
Gentex Corporation (NASDAQ:GNTX) last announced its quarterly earnings results on Friday, July 21st. The auto parts company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.01). Gentex Corporation had a return on equity of 18.95% and a net margin of 21.01%. The business had revenue of $443.10 million during the quarter, compared to analysts’ expectations of $446.36 million. During the same period in the previous year, the business earned $0.30 EPS. The business’s revenue was up 4.6% compared to the same quarter last year. Analysts predict that Gentex Corporation will post $1.27 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 18th. Investors of record on Friday, October 6th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend is Thursday, October 5th. Gentex Corporation’s payout ratio is 31.50%.
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.
A number of research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Gentex Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, August 29th. Robert W. Baird upgraded shares of Gentex Corporation from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $17.36 to $22.00 in a research report on Thursday, August 24th. BidaskClub downgraded shares of Gentex Corporation from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 27th. FBR & Co restated an “outperform” rating and issued a $25.00 price target on shares of Gentex Corporation in a research report 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 on the stock. in a research report on Monday, July 24th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. Gentex Corporation presently has an average rating of “Hold” and an average target price of $21.58.
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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