Gentex Corp. (GNTX) Reaches New 52-Week High After Dividend Announcement
Gentex Corp. (NASDAQ:GNTX) hit a new 52-week high on Wednesday following a dividend announcement from the company. The company traded as high as $18.57 and last traded at $18.57, with a volume of 703,736 shares trading hands. The stock had previously closed at $18.29.
The newly announced dividend which will be paid on Wednesday, January 18th. Investors of record on Friday, January 6th will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.97%. Gentex Corp.’s dividend payout ratio (DPR) is presently 30.00%.
A number of brokerages recently issued reports on GNTX. Zacks Investment Research lowered shares of Gentex Corp. from a “buy” rating to a “hold” rating in a research note on Monday, November 21st. FBR & Co restated an “outperform” rating on shares of Gentex Corp. in a research note on Thursday, November 10th. Finally, Wells Fargo & Co. restated an “outperform” rating and issued a $19.00 price target on shares of Gentex Corp. in a research note on Tuesday, September 13th.
The firm’s 50 day moving average is $17.32 and its 200-day moving average is $16.98. The firm has a market capitalization of $5.32 billion, a PE ratio of 15.45 and a beta of 0.84.
Gentex Corp. (NASDAQ:GNTX) last released its quarterly earnings data on Thursday, October 20th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.02. Gentex Corp. had a return on equity of 19.53% and a net margin of 20.86%. The firm had revenue of $429.60 million for the quarter, compared to the consensus estimate of $428.43 million. During the same quarter in the prior year, the company posted $0.27 earnings per share. The firm’s revenue was up 10.2% on a year-over-year basis. Equities research analysts forecast that Gentex Corp. will post $1.21 EPS for the current year.
In other Gentex Corp. news, VP Joseph E. Iv Matthews sold 2,244 shares of the stock in a transaction that occurred on Friday, November 18th. The stock was sold at an average price of $18.00, for a total transaction of $40,392.00. Following the transaction, the vice president now owns 17,614 shares in the company, valued at $317,052. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director James H. Wallace sold 12,000 shares of the stock in a transaction that occurred on Tuesday, October 25th. The shares were sold at an average price of $16.78, for a total value of $201,360.00. Following the transaction, the director now owns 29,400 shares in the company, valued at approximately $493,332. The disclosure for this sale can be found here. 2.90% of the stock is owned by corporate insiders.
Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of Gentex Corp. by 2.4% in the second quarter. Vanguard Group Inc. now owns 20,838,885 shares of the company’s stock valued at $321,960,000 after buying an additional 489,936 shares during the period. FMR LLC increased its position in shares of Gentex Corp. by 1.1% in the second quarter. FMR LLC now owns 12,314,818 shares of the company’s stock valued at $190,264,000 after buying an additional 130,746 shares during the period. BlackRock Fund Advisors increased its position in shares of Gentex Corp. by 3.7% in the third quarter. BlackRock Fund Advisors now owns 10,527,305 shares of the company’s stock valued at $184,859,000 after buying an additional 370,960 shares during the period. BlackRock Institutional Trust Company N.A. increased its position 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 valued at $133,048,000 after buying an additional 212,298 shares during the period. Finally, Artisan Partners Limited Partnership increased its position in shares of Gentex Corp. by 2.5% in the second quarter. Artisan Partners Limited Partnership now owns 7,687,777 shares of the company’s stock valued at $118,776,000 after buying an additional 186,235 shares during the period. Institutional investors own 85.25% 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.
Receive News & Stock Ratings for Gentex Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gentex Corp. and related stocks with our FREE daily email newsletter.