Traders Buy Gentex (GNTX) on Weakness on Disappointing Earnings

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Traders purchased shares of Gentex Co. (NASDAQ:GNTX) on weakness during trading hours on Wednesday following a dissappointing earnings announcement. $24.66 million flowed into the stock on the tick-up and $18.72 million flowed out of the stock on the tick-down, for a money net flow of $5.94 million into the stock. Of all companies tracked, Gentex had the 31st highest net in-flow for the day. Gentex traded down ($0.78) for the day and closed at $22.25The auto parts company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.02). Gentex had a net margin of 25.11% and a return on equity of 21.83%. The company had revenue of $453.40 million for the quarter, compared to the consensus estimate of $477.41 million. During the same quarter in the prior year, the firm earned $0.46 earnings per share. Gentex’s revenue for the quarter was down 1.3% compared to the same quarter last year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 23rd. Investors of record on Wednesday, January 9th were paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend was Tuesday, January 8th. Gentex’s dividend payout ratio is currently 34.38%.

A number of equities research analysts recently weighed in on the stock. Wells Fargo & Co restated a “buy” rating on shares of Gentex in a research note on Wednesday. Zacks Investment Research upgraded shares of Gentex from a “sell” rating to a “hold” rating in a research note on Tuesday, January 15th. BidaskClub raised Gentex from a “hold” rating to a “buy” rating in a report on Saturday, January 12th. KeyCorp started coverage on Gentex in a report on Monday, December 10th. They set a “sector weight” rating on the stock. Finally, Jefferies Financial Group started coverage on Gentex in a report on Tuesday, December 4th. They set a “hold” rating and a $24.00 target price on the stock. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $23.50.

In related news, General Counsel Scott P. Ryan sold 3,000 shares of Gentex stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $19.88, for a total transaction of $59,640.00. Following the transaction, the general counsel now directly owns 22,513 shares of the company’s stock, valued at $447,558.44. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.60% of the stock is owned by insiders.

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in shares of Gentex by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 24,110,056 shares of the auto parts company’s stock valued at $517,401,000 after purchasing an additional 272,847 shares during the period. Vanguard Group Inc increased its holdings in Gentex by 1.1% during the 3rd quarter. Vanguard Group Inc now owns 24,110,056 shares of the auto parts company’s stock worth $517,401,000 after purchasing an additional 272,847 shares in the last quarter. FMR LLC increased its holdings in Gentex by 22.6% during the 2nd quarter. FMR LLC now owns 10,889,141 shares of the auto parts company’s stock worth $250,668,000 after purchasing an additional 2,008,953 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Gentex by 8.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 5,835,625 shares of the auto parts company’s stock worth $125,230,000 after purchasing an additional 467,548 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Gentex by 24.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 4,966,771 shares of the auto parts company’s stock worth $106,585,000 after purchasing an additional 976,219 shares in the last quarter. 85.61% of the stock is currently owned by hedge funds and other institutional investors.

The firm has a market capitalization of $6.04 billion, a P/E ratio of 16.55, a P/E/G ratio of 1.17 and a beta of 1.11.

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Gentex Company Profile (NASDAQ:GNTX)

Gentex Corporation provides automatic-dimming and non-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 worldwide. It designs, develops, manufactures, and markets automotive products, including interior and exterior electrochromic automatic-dimming rearview mirrors, automotive electronics, and interior and exterior non-automatic-dimming rearview mirrors with electronic features for automotive passenger cars, light trucks, pick-up trucks, sport utility vehicles, and vans for original equipment manufacturers, tier one automotive mirror manufacturers, and various aftermarket and accessory customers.

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