Capital Fund Management S.A. purchased a new position in shares of Gentex Corp. (NASDAQ:GNTX) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 205,234 shares of the company’s stock, valued at approximately $3,171,000.
A number of other large investors have also bought and sold shares of the stock. Norges Bank purchased a new position in shares of Gentex Corp. during the fourth quarter worth approximately $44,341,000. Commonwealth Equity Services Inc raised its position in shares of Gentex Corp. by 20.0% in the first quarter. Commonwealth Equity Services Inc now owns 20,855 shares of the company’s stock worth $327,000 after buying an additional 3,482 shares in the last quarter. Aperio Group LLC raised its position in shares of Gentex Corp. by 0.6% in the first quarter. Aperio Group LLC now owns 55,341 shares of the company’s stock worth $868,000 after buying an additional 340 shares in the last quarter. Ngam Advisors L.P. raised its position in shares of Gentex Corp. by 12.9% in the first quarter. Ngam Advisors L.P. now owns 133,505 shares of the company’s stock worth $2,095,000 after buying an additional 15,244 shares in the last quarter. Finally, Teachers Advisors Inc. raised its position in shares of Gentex Corp. by 50.1% in the first quarter. Teachers Advisors Inc. now owns 353,418 shares of the company’s stock worth $5,545,000 after buying an additional 117,978 shares in the last quarter. Institutional investors and hedge funds own 86.22% of the company’s stock.
Gentex Corp. (NASDAQ:GNTX) traded up 0.52% on Tuesday, reaching $17.51. The company had a trading volume of 1,818,794 shares. The stock’s 50-day moving average price is $17.67 and its 200-day moving average price is $16.54. The stock has a market capitalization of $5.02 billion, a P/E ratio of 15.36 and a beta of 1.10. Gentex Corp. has a 12-month low of $12.93 and a 12-month high of $18.30.
Gentex Corp. (NASDAQ:GNTX) last announced its quarterly earnings results on Friday, July 22nd. The company reported $0.30 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.01. Gentex Corp. had a return on equity of 19.26% and a net margin of 20.52%. The business earned $423.80 million during the quarter, compared to the consensus estimate of $416.99 million. During the same quarter in the prior year, the company posted $0.26 earnings per share. Gentex Corp.’s revenue was up 11.7% compared to the same quarter last year. On average, equities research analysts anticipate that Gentex Corp. will post $1.20 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 19th. Investors of record on Friday, October 7th will be issued a dividend of $0.09 per share. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $0.36 annualized dividend and a yield of 2.06%. Gentex Corp.’s dividend payout ratio (DPR) is currently 31.30%.
A number of research analysts have commented on GNTX shares. FBR & Co reaffirmed a “buy” rating on shares of Gentex Corp. in a report on Saturday, June 18th. Zacks Investment Research raised Gentex Corp. from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a report on Friday, June 24th. Finally, Wells Fargo & Co. reaffirmed an “outperform” rating and issued a $19.00 price objective on shares of Gentex Corp. in a report on Tuesday, September 13th.
In other Gentex Corp. news, Chairman Fred Bauer sold 696,000 shares of the company’s stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $18.03, for a total value of $12,548,880.00. Following the completion of the transaction, the chairman now owns 6,011,728 shares in the company, valued at approximately $108,391,455.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Steven R. Downing sold 8,820 shares of the company’s stock in a transaction on Monday, July 25th. The shares were sold at an average price of $17.62, for a total value of $155,408.40. Following the completion of the transaction, the chief financial officer now owns 49,615 shares of the company’s stock, valued at approximately $874,216.30. The disclosure for this sale can be found here. Corporate insiders own 2.90% of the company’s stock.
About Gentex Corp.
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 segments include Automotive Products and Other, which includes Fire Protection Products and Dimmable Aircraft Windows.
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