Gentex Corp. (GNTX) Position Decreased by Advisory Services Network LLC
Advisory Services Network LLC decreased its position in shares of Gentex Corp. (NASDAQ:GNTX) by 72.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 12,830 shares of the company’s stock after selling 34,177 shares during the period. Advisory Services Network LLC’s holdings in Gentex Corp. were worth $198,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Burgundy Asset Management Ltd. increased its stake in 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 last quarter. Fairpointe Capital LLC increased its stake in 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 last quarter. State Street Corp increased its stake in Gentex Corp. by 0.9% in the first quarter. State Street Corp now owns 7,510,911 shares of the company’s stock worth $117,844,000 after buying an additional 64,255 shares during the last quarter. Scharf Investments LLC increased its stake in Gentex Corp. by 13.2% in the first quarter. Scharf Investments LLC now owns 6,832,754 shares of the company’s stock worth $107,206,000 after buying an additional 794,511 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in Gentex Corp. by 4.5% in the first quarter. Geode Capital Management LLC now owns 3,095,133 shares of the company’s stock worth $48,561,000 after buying an additional 132,633 shares during the last quarter. Institutional investors and hedge funds own 86.22% of the company’s stock.
Gentex Corp. (NASDAQ:GNTX) traded down 0.61% during mid-day trading on Friday, hitting $17.80. The company had a trading volume of 1,839,547 shares. The stock has a 50 day moving average price of $17.66 and a 200-day moving average price of $16.57. The stock has a market capitalization of $5.10 billion, a PE ratio of 15.61 and a beta of 1.10. Gentex Corp. has a 1-year low of $12.93 and a 1-year high of $18.30.
Gentex Corp. (NASDAQ:GNTX) last issued its earnings results on Friday, July 22nd. The company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.01. The company earned $423.80 million during the quarter, compared to the consensus estimate of $416.99 million. Gentex Corp. had a net margin of 20.52% and a return on equity of 19.26%. Gentex Corp.’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.26 EPS. On average, analysts forecast that Gentex Corp. will post $1.20 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 19th. Investors of record on Friday, October 7th will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend is Wednesday, October 5th. Gentex Corp.’s dividend payout ratio is currently 31.30%.
A number of research analysts have recently issued reports on GNTX shares. FBR & Co reaffirmed a “buy” rating on shares of Gentex Corp. in a research note on Saturday, June 18th. Zacks Investment Research raised Gentex Corp. from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a research note on Friday, June 24th. Finally, Wells Fargo & Co. reaffirmed an “outperform” rating and set a $19.00 price objective on shares of Gentex Corp. in a research note on Tuesday, September 13th.
In other Gentex Corp. news, Director Gary F. Goode sold 24,000 shares of the business’s stock in a transaction 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 owns 28,000 shares in the company, valued at approximately $491,960. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Steven R. Downing sold 8,820 shares of the business’s stock in a transaction on Monday, July 25th. The stock was sold at an average price of $17.62, for a total transaction of $155,408.40. Following the completion of the sale, the chief financial officer now owns 49,615 shares in the company, valued at approximately $874,216.30. The disclosure for this sale can be found here. 2.90% of the stock is currently owned by corporate insiders.
About Gentex Corp.
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.
Want to see what other hedge funds are holding GNTX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gentex Corp. (NASDAQ:GNTX).
Receive News & Ratings for Gentex Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gentex Corp. and related companies with MarketBeat.com's FREE daily email newsletter.