Gentex Corp. (GNTX) To Go Ex-Dividend on October 5th
Gentex Corp. (NASDAQ:GNTX) declared a quarterly dividend on Wednesday, August 31st. Shareholders of record on Friday, October 7th will be paid a dividend of 0.09 per share on Wednesday, October 19th. This represents a $0.36 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend is Wednesday, October 5th.
Gentex Corp. (NASDAQ:GNTX) opened at 17.43 on Friday. The company has a market capitalization of $5.00 billion, a price-to-earnings ratio of 15.29 and a beta of 1.09. Gentex Corp. has a 52 week low of $12.93 and a 52 week high of $18.30. The firm has a 50-day moving average price of $17.73 and a 200-day moving average price of $16.49.
Gentex Corp. (NASDAQ:GNTX) last issued its quarterly earnings data on Friday, July 22nd. The company reported $0.30 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.01. Gentex Corp. had a return on equity of 19.26% and a net margin of 20.52%. The company had revenue of $423.80 million for the quarter, compared to analysts’ expectations of $416.99 million. During the same period in the previous year, the firm posted $0.26 earnings per share. The firm’s revenue for the quarter was up 11.7% on a year-over-year basis. Analysts anticipate that Gentex Corp. will post $1.20 EPS for the current fiscal year.
Several equities research analysts have weighed in on GNTX shares. Wells Fargo & Co. reissued an “outperform” rating and set a $19.00 price objective on shares of Gentex Corp. in a research note on Tuesday, September 13th. Zacks Investment Research raised Gentex Corp. from a “hold” rating to a “buy” rating and set a $17.00 target price on the stock in a research note on Friday, June 24th. Finally, FBR & Co reaffirmed a “buy” rating on shares of Gentex Corp. in a research note on Saturday, June 18th.
In related news, Chairman Fred Bauer sold 696,000 shares of the business’s stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $18.03, for a total value of $12,548,880.00. Following the completion of the sale, the chairman now owns 6,011,728 shares in the company, valued at $108,391,455.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Steven R. Downing sold 8,820 shares of the business’s stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $17.62, for a total value of $155,408.40. Following the completion of the sale, the chief financial officer now owns 49,615 shares of the company’s stock, valued at approximately $874,216.30. The disclosure for this sale can be found here. 2.90% of the stock is owned by corporate insiders.
Several hedge funds have recently made changes to their positions in GNTX. BlackRock Fund Advisors raised its stake in shares of Gentex Corp. by 4.5% in the second quarter. BlackRock Fund Advisors now owns 10,156,345 shares of the company’s stock worth $156,916,000 after buying an additional 439,765 shares during the last quarter. Scharf Investments LLC raised its stake in shares of Gentex Corp. by 5.3% in the second quarter. Scharf Investments LLC now owns 7,193,179 shares of the company’s stock worth $111,135,000 after buying an additional 360,425 shares during the last quarter. OMERS ADMINISTRATION Corp raised its stake in shares of Gentex Corp. by 1,077.5% in the second quarter. OMERS ADMINISTRATION Corp now owns 293,200 shares of the company’s stock worth $4,530,000 after buying an additional 268,300 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in shares of Gentex Corp. by 2.5% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 8,611,510 shares of the company’s stock worth $133,048,000 after buying an additional 212,298 shares during the last quarter. Finally, Clinton Group Inc. raised its stake in shares of Gentex Corp. by 731.8% in the second quarter. Clinton Group Inc. now owns 161,802 shares of the company’s stock worth $2,500,000 after buying an additional 142,350 shares during the last quarter. Hedge funds and other institutional investors own 86.22% of the company’s stock.
About Gentex Corp.
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 segments include Automotive Products and Other, which includes Fire Protection Products and Dimmable Aircraft Windows.
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