Gentex Corp. (GNTX) Sees Strong Trading Volume
Gentex Corp. (NASDAQ:GNTX) shares saw unusually-strong trading volume on Wednesday . Approximately 2,828,118 shares were traded during trading, an increase of 17% from the previous session’s volume of 2,420,504 shares.The stock last traded at $14.95 and had previously closed at $14.95.
Several brokerages have recently issued reports on GNTX. FBR & Co restated an “outperform” rating and issued a $20.00 price objective on shares of Gentex Corp. in a research note on Monday, April 4th. Zacks Investment Research downgraded shares of Gentex Corp. from a “hold” rating to a “sell” rating in a research note on Friday, April 22nd.
The firm has a market cap of $4.33 billion and a price-to-earnings ratio of 13.64. The firm’s 50-day moving average is $15.89 and its 200-day moving average is $15.29.
Gentex Corp. (NASDAQ:GNTX) last issued its quarterly earnings results on Friday, April 22nd. The company reported $0.28 earnings per share for the quarter, meeting the consensus estimate of $0.28. The company earned $405.60 million during the quarter, compared to analyst estimates of $405.23 million. During the same period in the previous year, the company posted $0.26 EPS. The company’s quarterly revenue was up 9.7% on a year-over-year basis. On average, equities analysts forecast that Gentex Corp. will post $1.18 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 20th. Stockholders of record on Thursday, July 7th will be paid a $0.09 dividend. The ex-dividend date of this dividend is Tuesday, July 5th. This is an increase from Gentex Corp.’s previous quarterly dividend of $0.09. This represents a $0.36 annualized dividend and a dividend yield of 2.40%.
In related news, CEO Fred Bauer sold 266,300 shares of the firm’s stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of $16.42, for a total transaction of $4,372,646.00. Following the completion of the sale, the chief executive officer now owns 6,591,628 shares of the company’s stock, valued at $108,234,531.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Joseph E. Iv Matthews sold 2,140 shares of the firm’s stock in a transaction that occurred on Wednesday, June 1st. The stock was sold at an average price of $16.50, for a total value of $35,310.00. Following the sale, the vice president now directly owns 17,510 shares of the company’s stock, valued at approximately $288,915. The disclosure for this sale can be found here.
A number of large investors have added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Gentex Corp. by 5.8% in the fourth quarter. Vanguard Group Inc. now owns 19,836,674 shares of the company’s stock valued at $317,584,000 after buying an additional 1,085,658 shares in the last quarter. Wells Fargo & Company MN boosted its stake in shares of Gentex Corp. by 1.6% in the fourth quarter. Wells Fargo & Company MN now owns 3,459,668 shares of the company’s stock worth $55,389,000 after buying an additional 55,672 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Gentex Corp. by 8.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,192,613 shares of the company’s stock worth $35,107,000 after buying an additional 171,374 shares during the period. Gabelli Funds LLC boosted its stake in shares of Gentex Corp. by 4.4% in the fourth quarter. Gabelli Funds LLC now owns 235,000 shares of the company’s stock worth $3,762,000 after buying an additional 10,000 shares during the period. Finally, Cambridge Investment Research Advisors Inc. boosted its stake in shares of Gentex Corp. by 53.5% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 90,746 shares of the company’s stock worth $1,453,000 after buying an additional 31,627 shares during the period.
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 involves designing, developing, manufacturing and marketing interior and exterior auto-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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