Uncommon Cents Investing LLC acquired a new position in shares of Gentex Co. (NASDAQ:GNTX) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 10,280 shares of the auto parts company’s stock, valued at approximately $243,000.
Several other large investors have also added to or reduced their stakes in GNTX. Wedge Capital Management L L P NC acquired a new position in shares of Gentex during the 3rd quarter worth about $20,369,000. Riverbridge Partners LLC boosted its position in shares of Gentex by 12.6% during the 3rd quarter. Riverbridge Partners LLC now owns 5,273,063 shares of the auto parts company’s stock worth $104,407,000 after acquiring an additional 592,011 shares in the last quarter. Claar Advisors LLC acquired a new position in shares of Gentex during the 3rd quarter worth about $9,900,000. Sei Investments Co. boosted its position in shares of Gentex by 7,916.2% during the 3rd quarter. Sei Investments Co. now owns 422,054 shares of the auto parts company’s stock worth $8,357,000 after acquiring an additional 416,789 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Gentex by 8.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 4,737,248 shares of the auto parts company’s stock worth $93,798,000 after acquiring an additional 379,747 shares in the last quarter. 84.11% of the stock is owned by institutional investors and hedge funds.
Shares of Gentex Co. (GNTX) opened at $23.47 on Wednesday. The stock has a market capitalization of $6,410.48, a PE ratio of 16.65, a P/E/G ratio of 1.49 and a beta of 1.31. Gentex Co. has a 1 year low of $16.59 and a 1 year high of $24.07.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 18th. Shareholders of record on Friday, April 6th will be paid a dividend of $0.11 per share. The ex-dividend date is Thursday, April 5th. This is an increase from Gentex’s previous quarterly dividend of $0.10. This represents a $0.44 annualized dividend and a yield of 1.87%. Gentex’s dividend payout ratio is currently 28.37%.
Gentex announced that its board has approved a stock buyback plan on Friday, March 9th that authorizes the company to buyback 20,000,000 shares. This buyback authorization authorizes the auto parts company to purchase shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.
Several research analysts have recently issued reports on the company. ValuEngine raised Gentex from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. B. Riley upped their price objective on Gentex from $25.00 to $29.00 and gave the stock a “buy” rating in a research report on Monday, January 29th. Zacks Investment Research raised Gentex from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a research report on Wednesday, January 31st. Craig Hallum upped their price objective on Gentex from $18.00 to $23.00 and gave the stock a “hold” rating in a research report on Monday, January 29th. Finally, BMO Capital Markets upped their target price on Gentex to $28.00 and gave the company an “outperform” rating in a research report on Monday, January 29th. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Gentex presently has an average rating of “Buy” and a consensus price target of $25.50.
In other Gentex news, Chairman Fred Bauer sold 946,200 shares of the company’s stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $23.33, for a total transaction of $22,074,846.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kevin C. Nash sold 7,874 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $23.40, for a total value of $184,251.60. Following the sale, the insider now directly owns 34,062 shares of the company’s stock, valued at $797,050.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 974,354 shares of company stock valued at $22,734,583. 2.50% of the stock is owned by company insiders.
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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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