Gentex Corporation (GNTX) Shares Bought by Russell Investments Group Ltd.
Russell Investments Group Ltd. raised its position in Gentex Corporation (NASDAQ:GNTX) by 43.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 128,796 shares of the auto parts company’s stock after buying an additional 39,317 shares during the period. Russell Investments Group Ltd.’s holdings in Gentex Corporation were worth $2,444,000 as of its most recent filing with the SEC.
A number of other large investors have also added to or reduced their stakes in the company. Asset Management One Co. Ltd. raised its stake in Gentex Corporation by 11.4% in the first quarter. Asset Management One Co. Ltd. now owns 8,500 shares of the auto parts company’s stock worth $181,000 after buying an additional 870 shares during the period. BB&T Corp acquired a new stake in Gentex Corporation during the first quarter worth approximately $200,000. LVM Capital Management Ltd. MI acquired a new stake in Gentex Corporation during the second quarter worth approximately $194,000. Level Four Advisory Services LLC acquired a new stake in Gentex Corporation during the first quarter worth approximately $226,000. Finally, Breton Hill Capital Ltd. acquired a new stake in Gentex Corporation during the second quarter worth approximately $220,000. Institutional investors and hedge funds own 80.86% of the company’s stock.
Shares of Gentex Corporation (GNTX) traded up 1.09% during mid-day trading on Friday, reaching $18.47. The company had a trading volume of 1,332,076 shares. The stock has a 50 day moving average of $17.58 and a 200-day moving average of $19.36. The firm has a market capitalization of $5.27 billion, a price-to-earnings ratio of 14.66 and a beta of 1.15. Gentex Corporation has a one year low of $16.06 and a one year high of $22.12.
Gentex Corporation (NASDAQ:GNTX) last issued its quarterly earnings results on Friday, July 21st. The auto parts company reported $0.31 EPS for the quarter, missing the Zacks’ consensus estimate of $0.32 by $0.01. The firm had revenue of $443.10 million for the quarter, compared to the consensus estimate of $446.36 million. Gentex Corporation had a net margin of 21.01% and a return on equity of 18.95%. The business’s revenue was up 4.6% compared to the same quarter last year. During the same period last year, the company posted $0.30 EPS. Equities analysts predict that Gentex Corporation will post $1.27 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 18th. Shareholders of record on Friday, October 6th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $0.40 dividend on an annualized basis and a yield of 2.17%. Gentex Corporation’s dividend payout ratio (DPR) is currently 31.50%.
Gentex Corporation announced that its Board of Directors has approved a share buyback plan on Wednesday, August 23rd that permits the company to buyback 15,000,000 outstanding shares. This buyback authorization permits the auto parts company to buy shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.
A number of brokerages have commented on GNTX. ValuEngine lowered Gentex Corporation from a “buy” rating to a “hold” rating in a research report on Friday. Zacks Investment Research upgraded Gentex Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday. Robert W. Baird upgraded Gentex Corporation from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $17.36 to $22.00 in a research report on Thursday, August 24th. BidaskClub upgraded Gentex Corporation from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 26th. Finally, FBR & Co reiterated an “outperform” rating and issued a $25.00 price objective on shares of Gentex Corporation in a research report on Monday, July 24th. One analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $21.79.
In other Gentex Corporation news, Chairman Fred Bauer sold 239,400 shares of the company’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $17.33, for a total transaction of $4,148,802.00. Following the sale, the chairman now owns 5,771,128 shares of the company’s stock, valued at $100,013,648.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.50% of the company’s stock.
Gentex Corporation 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 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.
Receive News & Stock Ratings for Gentex Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gentex Corporation and related stocks with our FREE daily email newsletter.