Grimes & Company Inc. Has $4,695,000 Stake in Gentex Corp. (GNTX)
Grimes & Company Inc. raised its position in Gentex Corp. (NASDAQ:GNTX) by 1.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 303,880 shares of the company’s stock after buying an additional 3,752 shares during the period. Grimes & Company Inc. owned approximately 0.11% of Gentex Corp. worth $4,695,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in shares of Gentex Corp. during the fourth quarter worth about $44,341,000. Royce & Associates LP increased its position in shares of Gentex Corp. by 24.1% in the first quarter. Royce & Associates LP now owns 7,236,043 shares of the company’s stock worth $113,534,000 after buying an additional 1,405,115 shares during the period. Fairpointe Capital LLC increased its position in shares of Gentex Corp. by 14.3% in the first quarter. Fairpointe Capital LLC now owns 8,170,651 shares of the company’s stock worth $128,197,000 after buying an additional 1,019,824 shares during the period. Burgundy Asset Management Ltd. increased its position in shares of Gentex Corp. by 8.8% in the first quarter. Burgundy Asset Management Ltd. now owns 11,275,149 shares of the company’s stock worth $176,907,000 after buying an additional 915,938 shares during the period. Finally, Glenmede Trust Co. NA increased its position in shares of Gentex Corp. by 76.8% in the first quarter. Glenmede Trust Co. NA now owns 1,833,141 shares of the company’s stock worth $28,761,000 after buying an additional 796,033 shares during the period. 86.27% of the stock is owned by institutional investors and hedge funds.
Gentex Corp. (NASDAQ:GNTX) traded down 0.29% during midday trading on Tuesday, hitting $17.39. The company had a trading volume of 969,102 shares. Gentex Corp. has a 12-month low of $12.93 and a 12-month high of $18.30. The stock has a market cap of $4.99 billion, a price-to-earnings ratio of 15.25 and a beta of 1.09. The company’s 50 day moving average is $17.74 and its 200 day moving average is $16.40.
Gentex Corp. (NASDAQ:GNTX) last issued its earnings results on Friday, July 22nd. The company reported $0.30 EPS for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.01. Gentex Corp. had a return on equity of 19.26% and a net margin of 20.52%. The company earned $423.80 million during the quarter, compared to the consensus estimate of $416.99 million. During the same period in the previous year, the firm posted $0.26 earnings per share. Gentex Corp.’s quarterly revenue was up 11.7% compared to the same quarter last year. On average, equities analysts anticipate that Gentex Corp. will post $1.20 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 19th. Shareholders of record on Friday, October 7th will be paid a $0.09 dividend. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $0.36 dividend on an annualized basis and a yield of 2.07%. Gentex Corp.’s payout ratio is currently 31.30%.
A number of equities analysts have recently issued reports on GNTX shares. Zacks Investment Research raised Gentex Corp. from a “hold” rating to a “buy” rating and set a $17.00 target price for the company in a research note on Friday, June 24th. FBR & Co restated a “buy” rating on shares of Gentex Corp. in a report on Saturday, June 18th. Finally, Wells Fargo & Co. restated an “outperform” rating and issued a $19.00 price target on shares of Gentex Corp. in a report on Tuesday, September 13th.
In other news, Director John A. Mulder sold 20,000 shares of Gentex Corp. stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $18.07, for a total transaction of $361,400.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Gary F. Goode sold 24,000 shares of Gentex Corp. stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $17.57, for a total value of $421,680.00. Following the sale, the director now directly owns 28,000 shares in the company, valued at approximately $491,960. The disclosure for this sale can be found here. 2.90% of the stock is owned by company insiders.
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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