Birch Hill Investment Advisors LLC Has $45.31 Million Position in Gentex Corporation (GNTX)
Birch Hill Investment Advisors LLC lowered its position in Gentex Corporation (NASDAQ:GNTX) by 3.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,388,456 shares of the auto parts company’s stock after selling 85,132 shares during the quarter. Gentex Corporation makes up about 4.0% of Birch Hill Investment Advisors LLC’s portfolio, making the stock its 3rd biggest position. Birch Hill Investment Advisors LLC owned approximately 0.83% of Gentex Corporation worth $45,309,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in GNTX. Northwestern Mutual Wealth Management Co. grew its stake in Gentex Corporation by 7.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,293 shares of the auto parts company’s stock worth $100,000 after purchasing an additional 368 shares in the last quarter. Asset Management One Co. Ltd. grew 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 purchasing an additional 870 shares in the last quarter. LVM Capital Management Ltd. MI bought a new position in Gentex Corporation in the second quarter worth approximately $194,000. Sheaff Brock Investment Advisors LLC bought a new position in Gentex Corporation in the second quarter worth approximately $194,000. Finally, HL Financial Services LLC bought a new position in Gentex Corporation in the second quarter worth approximately $202,000. 80.83% of the stock is currently owned by institutional investors.
In other Gentex Corporation news, Chairman Fred Bauer sold 239,400 shares of the business’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $17.33, for a total value of $4,148,802.00. Following the completion of the transaction, the chairman now owns 5,771,128 shares in the company, valued at $100,013,648.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.50% of the company’s stock.
Gentex Corporation (NASDAQ:GNTX) traded down 0.26% during mid-day trading on Monday, reaching $19.17. The company’s stock had a trading volume of 320,534 shares. The company’s 50-day moving average price is $17.75 and its 200 day moving average price is $19.22. The firm has a market capitalization of $5.47 billion, a price-to-earnings ratio of 15.21 and a beta of 1.15. Gentex Corporation has a 52 week low of $16.06 and a 52 week high of $22.12.
Gentex Corporation (NASDAQ:GNTX) last posted its quarterly earnings results on Friday, July 21st. The auto parts company reported $0.31 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.01). The business had revenue of $443.10 million during the quarter, compared to analyst estimates of $446.36 million. Gentex Corporation had a return on equity of 18.95% and a net margin of 21.01%. The business’s revenue was up 4.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.30 EPS. On average, equities analysts forecast that Gentex Corporation will post $1.27 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 18th. Shareholders of record on Friday, October 6th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $0.40 annualized dividend and a dividend yield of 2.08%. Gentex Corporation’s dividend payout ratio (DPR) is 31.50%.
Gentex Corporation declared that its Board of Directors has approved a share repurchase program on Wednesday, August 23rd that permits the company to buyback 15,000,000 shares. This buyback authorization permits the auto parts company to buy shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.
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GNTX has been the topic of several research analyst reports. BidaskClub raised Gentex Corporation from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 26th. ValuEngine cut Gentex Corporation from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Zacks Investment Research cut Gentex Corporation from a “hold” rating to a “sell” rating in a research note on Monday, June 26th. FBR & Co reissued an “outperform” rating and issued a $25.00 price objective on shares of Gentex Corporation in a research note on Monday, July 24th. Finally, Robert W. Baird raised Gentex Corporation from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $17.36 to $22.00 in a research note on Thursday, August 24th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $21.79.
About Gentex Corporation
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.
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