Wedge Capital Management L L P NC purchased a new position in Gentex Corporation (NASDAQ:GNTX) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,028,737 shares of the auto parts company’s stock, valued at approximately $20,369,000. Wedge Capital Management L L P NC owned approximately 0.36% of Gentex Corporation as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in GNTX. Alps Advisors Inc. boosted its stake in Gentex Corporation by 0.3% during the second quarter. Alps Advisors Inc. now owns 21,945 shares of the auto parts company’s stock valued at $416,000 after buying an additional 56 shares during the last quarter. Trust Co. of Toledo NA OH lifted its stake in shares of Gentex Corporation by 1.6% in the 2nd quarter. Trust Co. of Toledo NA OH now owns 13,942 shares of the auto parts company’s stock valued at $264,000 after purchasing an additional 213 shares during the last quarter. Synovus Financial Corp lifted its stake in shares of Gentex Corporation by 2.8% in the 2nd quarter. Synovus Financial Corp now owns 12,413 shares of the auto parts company’s stock valued at $236,000 after purchasing an additional 336 shares during the last quarter. Northwestern Mutual Investment Management Company LLC lifted its stake in shares of Gentex Corporation by 0.7% in the 2nd quarter. Northwestern Mutual Investment Management Company LLC now owns 49,864 shares of the auto parts company’s stock valued at $770,000 after purchasing an additional 353 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in shares of Gentex Corporation by 7.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,293 shares of the auto parts company’s stock worth $100,000 after acquiring an additional 368 shares during the last quarter. Hedge funds and other institutional investors own 80.83% of the company’s stock.
In other Gentex Corporation news, CFO Steven R. Downing sold 8,000 shares of the firm’s stock in a transaction dated Wednesday, September 27th. The stock was sold at an average price of $19.70, for a total transaction of $157,600.00. Following the transaction, the chief financial officer now owns 47,362 shares of the company’s stock, valued at $933,031.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Kevin C. Nash sold 4,320 shares of the stock in a transaction dated Wednesday, September 27th. The stock was sold at an average price of $19.70, for a total transaction of $85,104.00. Following the sale, the insider now owns 30,732 shares of the company’s stock, valued at approximately $605,420.40. The disclosure for this sale can be found here. 2.50% of the stock is owned by corporate insiders.
Several research analysts have commented on GNTX shares. B. Riley restated a “buy” rating on shares of Gentex Corporation in a report on Wednesday, November 1st. Zacks Investment Research raised Gentex Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, November 1st. Robert W. Baird lowered their price target on Gentex Corporation from $22.00 to $21.00 and set an “outperform” rating for the company in a research report on Monday, October 23rd. FBR & Co reissued a “buy” rating and issued a $25.00 price objective on shares of Gentex Corporation in a report on Wednesday, October 18th. Finally, KeyCorp reissued a “buy” rating and issued a $25.00 price objective on shares of Gentex Corporation in a report on Sunday, October 15th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $22.06.
Gentex Corporation (GNTX) traded down $0.02 during mid-day trading on Wednesday, hitting $18.71. The stock had a trading volume of 1,308,000 shares, compared to its average volume of 2,058,756. The stock has a market capitalization of $5,317.50, a price-to-earnings ratio of 14.86, a PEG ratio of 1.52 and a beta of 1.20. Gentex Corporation has a 1-year low of $16.59 and a 1-year high of $22.12.
Gentex Corporation (NASDAQ:GNTX) last posted its quarterly earnings results on Friday, October 20th. The auto parts company reported $0.31 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.31. Gentex Corporation had a return on equity of 18.45% and a net margin of 20.80%. The business had revenue of $438.63 million during the quarter, compared to analyst estimates of $452.42 million. During the same period in the prior year, the business earned $0.32 earnings per share. The business’s revenue was up 2.1% compared to the same quarter last year. equities research analysts anticipate that Gentex Corporation will post 1.27 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, October 18th. Shareholders of record on Friday, October 6th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date was Thursday, October 5th. Gentex Corporation’s dividend payout ratio (DPR) is 31.75%.
Gentex Corporation announced that its Board of Directors has approved a share buyback plan on Wednesday, August 23rd that permits the company to repurchase 15,000,000 shares. This repurchase authorization permits the auto parts company to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
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.
Receive News & Ratings for Gentex Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gentex Corporation and related companies with MarketBeat.com's FREE daily email newsletter.