Sequoia Financial Advisors LLC purchased a new position in Gentex Co. (NASDAQ: GNTX – Get Rating) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 48,826 shares of the auto parts company stock, valued at approximately $ 1,702,000.
Other institutional investors have also recently added to or reduced their stakes in the company. EdgePoint Investment Group Inc. increased its stake in Gentex by 97.9% in the fourth quarter. EdgePoint Investment Group Inc. now owns 7,793,008 shares of the auto parts company stock valued at $ 271,586,000 after acquiring an additional 3,856,036 shares during the last quarter. State Street Corp increased its stake in Gentex by 1.0% in the fourth quarter. State Street Corp now owns 6,314,445 shares of the auto parts company stock valued at $ 220,058,000 after acquiring an additional 65,579 shares during the last quarter. Ceredex Value Advisors LLC increased its stake in Gentex by 24.2% in the fourth quarter. Ceredex Value Advisors LLC now owns 4,264,938 shares of the auto parts company stock valued at $ 148,633,000 after acquiring an additional 830,321 shares during the last quarter. Ariel Investments LLC increased its stake in Gentex by 30.5% in the fourth quarter. Ariel Investments LLC now owns 4,248,656 shares of the auto parts company stock valued at $ 148,065,000 after acquiring an additional 992,611 shares during the last quarter. Finally, Cooke & Bieler LP increased its stake in Gentex by 0.6% in the fourth quarter. Cooke & Bieler LP now owns 3,865,907 shares of the auto parts company stock valued at $ 134,727,000 after acquiring an additional 22,570 shares during the last quarter. 86.24% of the stock is currently owned by hedge funds and other institutional investors.
In other Gentex news, CTO Neil Boehm sold 4,500 shares of the firm’s stock in a transaction dated Thursday, March 31st. The shares were sold at an average price of $ 29.24, for a total value of $ 131,580.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gary F. Goode sold 2,845 shares of the firm’s stock in a transaction dated Friday, May 20th. The stock was sold at an average price of $ 30.17, for a total transaction of $ 85,833.65. Following the completion of the sale, the director now owns 27,861 shares of the company stock, valued at $ 840,566.37. The disclosure for this sale can be found here. Insiders sold 13,045 shares of company stock valued at $ 384,082 over the last 90 days. 0.16% of the stock is currently owned by company insiders.
A number of research firms recently commented on GNTX. The Goldman Sachs Group reduced their target price on Gentex from $ 26.00 to $ 25.00 in a research note on Wednesday, June 1st. Robert W. Baird upped their price target on shares of Gentex from $ 33.00 to $ 34.00 in a research report on Monday, April 25th. BNP Paribas began coverage on shares of Gentex in a research report on Monday, April 11th. They set an “outperform” rating for the company. Exane BNP Paribas began coverage on shares of Gentex in a research report on Monday, April 11th. They set an “outperform” rating for the company. Finally, StockNews.com began coverage on shares of Gentex in a research report on Thursday, March 31st. They set a “hold” rating for the company. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $ 33.85.
Gentex stock opened at $ 26.73 on Friday. The firm has a 50-day moving average of $ 29.34 and a 200-day moving average of $ 30.92. The firm has a market cap of $ 6.27 billion, a P / E ratio of 19.09, a P / E / G ratio of 1.50 and a beta of 0.89. Gentex Co. has a 1-year low of $ 26.16 and a 1-year high of $ 37.90.
Gentex (NASDAQ: GNTX – Get Rating) last posted its earnings results on Friday, April 22nd. The auto parts company reported $ 0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $ 0.32 by $ 0.05. The company had revenue of $ 468.50 million during the quarter, compared to analyst estimates of $ 432.40 million. Gentex had a net margin of 19.52% and a return on equity of 17.46%. Gentex’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same period in the prior year, the business posted $ 0.46 earnings per share. Sell-side analysts anticipate that Gentex Co. will post 1.64 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 20th. Stockholders of record on Friday, July 8th will be issued a dividend of $ 0.12 per share. The ex-dividend date of this dividend is Thursday, July 7th. This represents a $ 0.48 dividend on an annualized basis and a dividend yield of 1.80%. Gentex’s dividend payout ratio is currently 34.29%.
Gentex Company Profile: (Get Rating)
Gentex Corporation designs, develops, manufactures, markets, and supplies digital vision, connected car, dimmable glass, and fire protection products in the United States, Germany, Japan, Mexico, and internationally. It operates through Automotive Products and Other segments. The company offers automotive products, including interior and exterior electrochromic automatic-dimming rearview mirrors, automotive electronics, and non-automatic-dimming rearview mirrors for automotive passenger cars, light trucks, pick-up trucks, sport utility vehicles, and vans for original equipment manufacturers, automotive suppliers, and various aftermarket and accessory customers.
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