Public Employees Retirement Association of Colorado reduced its stake in Gentex Corporation (NASDAQ:GNTX) by 9.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 54,607 shares of the auto parts company’s stock after selling 5,739 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Gentex Corporation were worth $1,081,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Palouse Capital Management Inc. purchased a new stake in Gentex Corporation in the 3rd quarter valued at about $287,000. Wright Investors Service Inc. raised its holdings in Gentex Corporation by 52.6% in the 3rd quarter. Wright Investors Service Inc. now owns 35,286 shares of the auto parts company’s stock valued at $698,000 after buying an additional 12,166 shares during the period. American Capital Management Inc. raised its holdings in Gentex Corporation by 1.4% in the 3rd quarter. American Capital Management Inc. now owns 2,435,913 shares of the auto parts company’s stock valued at $48,231,000 after buying an additional 34,470 shares during the period. Victory Capital Management Inc. grew its position in Gentex Corporation by 12.2% in the 3rd quarter. Victory Capital Management Inc. now owns 82,516 shares of the auto parts company’s stock valued at $1,634,000 after acquiring an additional 8,979 shares in the last quarter. Finally, Crossmark Global Holdings Inc. acquired a new position in Gentex Corporation in the 3rd quarter valued at about $568,000. Hedge funds and other institutional investors own 80.87% of the company’s stock.
Gentex Corporation (GNTX) opened at $18.67 on Friday. Gentex Corporation has a 52-week low of $16.59 and a 52-week high of $22.12. The company has a market capitalization of $5,300.47, a PE ratio of 14.82, a PEG ratio of 1.52 and a beta of 1.20.
Gentex Corporation (NASDAQ:GNTX) last announced its quarterly earnings data on Friday, October 20th. The auto parts company reported $0.31 EPS for the quarter, hitting the Zacks’ consensus estimate 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 the consensus estimate of $452.42 million. During the same period in the previous year, the company posted $0.32 earnings per share. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. research analysts anticipate that Gentex Corporation will post 1.27 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 18th. Investors of record on Friday, October 6th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.14%. The ex-dividend date of this dividend was Thursday, October 5th. Gentex Corporation’s payout ratio is 31.75%.
Gentex Corporation announced that its board has authorized a stock repurchase program on Wednesday, August 23rd that allows the company to buyback 15,000,000 shares. This buyback authorization allows the auto parts company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
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Several equities analysts have weighed in on the company. B. Riley reaffirmed a “buy” rating on shares of Gentex Corporation in a research 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. FBR & Co reaffirmed an “outperform” rating and issued a $25.00 target price on shares of Gentex Corporation in a research report on Monday, July 24th. KeyCorp reaffirmed a “buy” rating and issued a $25.00 target price on shares of Gentex Corporation in a research report on Sunday, October 15th. Finally, BidaskClub raised Gentex Corporation from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 26th. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $22.06.
In related news, CFO Steven R. Downing sold 8,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 27th. The stock was sold at an average price of $19.70, for a total transaction of $157,600.00. Following the completion of the sale, the chief financial officer now owns 47,362 shares in the company, valued at $933,031.40. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Kevin C. Nash sold 4,320 shares of the business’s stock in a transaction that occurred on Wednesday, September 27th. The stock was sold at an average price of $19.70, for a total value 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 insiders.
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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