Short Interest in Gentex Corp. (GNTX) Decreases By 10.8%
Gentex Corp. (NASDAQ:GNTX) was the target of a large decline in short interest during the month of September. As of September 15th, there was short interest totalling 24,193,392 shares, a decline of 10.8% from the August 31st total of 27,135,578 shares. Approximately 8.6% of the shares of the stock are sold short. Based on an average trading volume of 2,303,281 shares, the short-interest ratio is presently 10.5 days.
Shares of Gentex Corp. (NASDAQ:GNTX) opened at 17.89 on Thursday. The company has a market cap of $5.13 billion, a price-to-earnings ratio of 15.69 and a beta of 1.10. The firm has a 50 day moving average price of $17.66 and a 200-day moving average price of $16.55. Gentex Corp. has a 52-week low of $12.93 and a 52-week high of $18.30.
Gentex Corp. (NASDAQ:GNTX) last posted its quarterly earnings results on Friday, July 22nd. The company reported $0.30 EPS for the quarter, topping 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 firm earned $423.80 million during the quarter, compared to analyst estimates of $416.99 million. During the same period last year, the company earned $0.26 earnings per share. The business’s revenue for the quarter was up 11.7% on a year-over-year basis. Equities research analysts anticipate that Gentex Corp. will post $1.20 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 19th. Stockholders of record on Friday, October 7th will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend is Wednesday, October 5th. Gentex Corp.’s payout ratio is currently 31.30%.
A number of equities research analysts recently weighed in on GNTX shares. Zacks Investment Research upgraded Gentex Corp. from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a research report on Friday, June 24th. FBR & Co restated a “buy” rating on shares of Gentex Corp. in a research report on Saturday, June 18th. Finally, Wells Fargo & Co. restated an “outperform” rating and set a $19.00 price objective on shares of Gentex Corp. in a research report on Tuesday, September 13th.
In related news, General Counsel Scott P. Ryan sold 5,132 shares of the business’s stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of $17.77, for a total transaction of $91,195.64. Following the sale, the general counsel now owns 14,446 shares in the company, valued at approximately $256,705.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kevin C. Nash sold 6,412 shares of the business’s stock in a transaction on Monday, July 25th. The stock was sold at an average price of $17.63, for a total value of $113,043.56. Following the sale, the insider now owns 31,432 shares in the company, valued at approximately $554,146.16. The disclosure for this sale can be found here. Corporate insiders own 2.90% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. I.G. Investment Management LTD. increased its stake in shares of Gentex Corp. by 9.4% in the second quarter. I.G. Investment Management LTD. now owns 10,107 shares of the company’s stock worth $156,000 after buying an additional 865 shares during the period. Mizuho Asset Management Co. Ltd. acquired a new stake in shares of Gentex Corp. during the second quarter worth about $189,000. Dearborn Partners LLC acquired a new stake in shares of Gentex Corp. during the second quarter worth about $190,000. Essex Financial Services Inc. acquired a new stake in shares of Gentex Corp. during the second quarter worth about $190,000. Finally, Synovus Financial Corp increased its stake in shares of Gentex Corp. by 0.5% in the second quarter. Synovus Financial Corp now owns 12,558 shares of the company’s stock worth $193,000 after buying an additional 57 shares during the period. 86.22% of the stock is owned by hedge funds and other institutional investors.
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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