Retirement Systems of Alabama Has $5,756,000 Stake in Gentex Corp. (GNTX)
Retirement Systems of Alabama increased its position in Gentex Corp. (NASDAQ:GNTX) by 0.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 372,582 shares of the company’s stock after buying an additional 74 shares during the period. Retirement Systems of Alabama’s holdings in Gentex Corp. were worth $5,756,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of GNTX. Dearborn Partners LLC bought a new stake in shares of Gentex Corp. during the second quarter worth about $190,000. 1st Global Advisors Inc. raised its stake in shares of Gentex Corp. by 1.5% in the second quarter. 1st Global Advisors Inc. now owns 13,742 shares of the company’s stock worth $212,000 after buying an additional 204 shares during the period. Trust Co. of Toledo NA OH raised its stake in shares of Gentex Corp. by 0.5% in the second quarter. Trust Co. of Toledo NA OH now owns 14,514 shares of the company’s stock worth $224,000 after buying an additional 67 shares during the period. Sigma Planning Corp raised its stake in shares of Gentex Corp. by 1.3% in the second quarter. Sigma Planning Corp now owns 15,085 shares of the company’s stock worth $233,000 after buying an additional 200 shares during the period. Finally, Eqis Capital Management Inc. raised its stake in shares of Gentex Corp. by 0.5% in the second quarter. Eqis Capital Management Inc. now owns 16,409 shares of the company’s stock worth $254,000 after buying an additional 88 shares during the period. Institutional investors and hedge funds own 86.23% of the company’s stock.
Gentex Corp. (NASDAQ:GNTX) traded up 0.62% during trading on Wednesday, reaching $17.72. 1,403,491 shares of the company’s stock were exchanged. The company has a market capitalization of $5.08 billion, a price-to-earnings ratio of 15.54 and a beta of 1.10. Gentex Corp. has a 52-week low of $12.93 and a 52-week high of $18.30. The stock’s 50-day moving average price is $17.63 and its 200-day moving average price is $16.61.
Gentex Corp. (NASDAQ:GNTX) last announced its earnings results on Friday, July 22nd. The company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.01. The firm earned $423.80 million during the quarter, compared to analysts’ expectations of $416.99 million. Gentex Corp. had a return on equity of 19.26% and a net margin of 20.52%. The company’s revenue was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.26 earnings per share. Equities analysts expect that Gentex Corp. will post $1.20 earnings per share for the current 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 given a dividend of $0.09 per share. The ex-dividend date is Wednesday, October 5th. This represents a $0.36 dividend on an annualized basis and a yield of 2.03%. Gentex Corp.’s payout ratio is currently 31.30%.
A number of brokerages recently issued reports on GNTX. Wells Fargo & Co. restated an “outperform” rating and issued a $19.00 price target on shares of Gentex Corp. in a research note on Tuesday, September 13th. Zacks Investment Research lowered shares of Gentex Corp. from a “buy” rating to a “hold” rating in a research note on Monday, June 27th. Finally, FBR & Co reaffirmed a “buy” rating on shares of Gentex Corp. in a report on Saturday, June 18th.
In other news, Director Gary F. Goode sold 24,000 shares of the company’s stock in a transaction that occurred on Monday, July 25th. The stock was sold at an average price of $17.57, for a total transaction of $421,680.00. Following the completion of the transaction, the director now directly owns 28,000 shares in the company, valued at $491,960. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Fred Bauer sold 696,000 shares of the company’s stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $18.03, for a total value of $12,548,880.00. Following the transaction, the chairman now owns 6,011,728 shares of the company’s stock, valued at $108,391,455.84. The disclosure for this sale can be found here. Company insiders own 2.90% of the company’s stock.
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.
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