Gentex Corporation (NASDAQ:GNTX) to Issue Quarterly Dividend of $0.12

Gentex Corporation (NASDAQ:GNTX) announced a quarterly dividend on Monday, August 31st. Shareholders of record on Wednesday, October 7th will be paid a dividend of 0.12 per share by the auto parts company on Wednesday, October 21st. This represents a c) annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Wednesday, October 7th.

Gentex has a payout ratio of 25.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Gentex to earn $2.17 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 22.1%.

Gentex Stock Performance

GNTX stock traded down $0.30 during midday trading on Monday, reaching $22.37. 2,967,204 shares of the company traded hands, compared to its average volume of 2,370,549. The firm has a market capitalization of $4.76 billion, a price-to-earnings ratio of 11.84 and a beta of 0.79. Gentex has a 52-week low of $20.48 and a 52-week high of $29.38. The business has a 50 day moving average of $24.04 and a 200-day moving average of $23.47.

Gentex (NASDAQ:GNTX) last announced its earnings results on Friday, July 24th. The auto parts company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.08. The firm had revenue of $651.30 million during the quarter, compared to analysts’ expectations of $669.65 million. Gentex had a return on equity of 16.78% and a net margin of 15.50%.The company’s quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.43 EPS. Research analysts anticipate that Gentex will post 2.04 earnings per share for the current year.

Hedge Funds Weigh In On Gentex

A number of hedge funds have recently added to or reduced their stakes in GNTX. Corient Private Wealth LP increased its holdings in Gentex by 15.1% during the 2nd quarter. Corient Private Wealth LP now owns 66,327 shares of the auto parts company’s stock worth $1,676,000 after purchasing an additional 8,694 shares during the period. Amundi lifted its stake in Gentex by 48.3% in the second quarter. Amundi now owns 40,797 shares of the auto parts company’s stock worth $1,031,000 after acquiring an additional 13,287 shares during the period. HighTower Advisors LLC grew its holdings in Gentex by 65.2% during the 2nd quarter. HighTower Advisors LLC now owns 226,238 shares of the auto parts company’s stock worth $5,717,000 after acquiring an additional 89,288 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Gentex during the 2nd quarter worth about $3,715,000. Finally, California State Teachers Retirement System increased its position in Gentex by 2,355.1% during the 2nd quarter. California State Teachers Retirement System now owns 6,401,978 shares of the auto parts company’s stock valued at $161,778,000 after purchasing an additional 6,141,216 shares during the period. 86.76% of the stock is currently owned by institutional investors.

About Gentex

Gentex Corporation (NASDAQ: GNTX) is a global technology company specializing in the design and manufacture of automotive and aerospace products. The company’s primary business centers on automatic-dimming rearview mirrors, advanced driver-assistance systems (ADAS), and camera-based driver monitoring technologies. In the automotive sector, Gentex supplies exterior and interior mirrors with integrated electronics, connectivity features, and safety capabilities to many of the world’s leading original equipment manufacturers (OEMs).