Gentex Corp. to Issue Quarterly Dividend of $0.09 (GNTX)
Gentex Corp. (NASDAQ:GNTX) declared a quarterly dividend on Wednesday, November 30th. Investors of record on Friday, January 6th will be given a dividend of 0.09 per share on Wednesday, January 18th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.97%.
Gentex Corp. (NASDAQ:GNTX) opened at 18.46 on Wednesday. The company’s 50 day moving average is $17.32 and its 200-day moving average is $16.98. The stock has a market cap of $5.29 billion, a PE ratio of 15.37 and a beta of 0.84. Gentex Corp. has a 1-year low of $12.93 and a 1-year high of $18.51.
Gentex Corp. (NASDAQ:GNTX) last posted its quarterly earnings results on Thursday, October 20th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.02. The business earned $429.60 million during the quarter, compared to analysts’ expectations of $428.43 million. Gentex Corp. had a net margin of 20.86% and a return on equity of 19.53%. The business’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the company posted $0.27 earnings per share. Equities research analysts forecast that Gentex Corp. will post $1.21 earnings per share for the current fiscal year.
A number of research firms have recently weighed in 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 14th. FBR & Co reiterated an “outperform” rating on shares of Gentex Corp. in a research note on Thursday, November 10th. Finally, Wells Fargo & Co. reiterated an “outperform” rating and issued a $19.00 price objective on shares of Gentex Corp. in a research note on Tuesday, September 13th.
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In related news, Director James H. Wallace sold 12,000 shares of the firm’s stock in a transaction on Tuesday, October 25th. The shares were sold at an average price of $16.78, for a total transaction of $201,360.00. Following the sale, the director now owns 29,400 shares in the company, valued at $493,332. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Kevin C. Nash sold 6,210 shares of the firm’s stock in a transaction on Tuesday, October 25th. The shares were sold at an average price of $16.68, for a total transaction of $103,582.80. Following the sale, the insider now owns 31,830 shares in the company, valued at approximately $530,924.40. The disclosure for this sale can be found here. Corporate insiders own 2.90% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in GNTX. Reliance Trust Co. of Delaware raised its stake in shares of Gentex Corp. by 1.3% in the second quarter. Reliance Trust Co. of Delaware now owns 22,223 shares of the company’s stock valued at $344,000 after buying an additional 284 shares during the period. Quadrature Capital Ltd bought a new stake in shares of Gentex Corp. during the second quarter valued at about $375,000. Jefferies Group LLC raised its stake in shares of Gentex Corp. by 20.3% in the second quarter. Jefferies Group LLC now owns 25,621 shares of the company’s stock valued at $396,000 after buying an additional 4,329 shares during the period. United Services Automobile Association raised its stake in shares of Gentex Corp. by 2.5% in the second quarter. United Services Automobile Association now owns 25,650 shares of the company’s stock valued at $396,000 after buying an additional 630 shares during the period. Finally, Pacer Advisors Inc. raised its stake in shares of Gentex Corp. by 506.0% in the second quarter. Pacer Advisors Inc. now owns 30,377 shares of the company’s stock valued at $469,000 after buying an additional 25,364 shares during the period. Institutional investors own 85.25% of the company’s stock.
Gentex Corp. Company 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 segments include Automotive Products and Other, which includes Fire Protection Products and Dimmable Aircraft Windows.
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