Gentex Corp. to Issue Quarterly Dividend of $0.09 (GNTX)
Gentex Corp. (NASDAQ:GNTX) declared a quarterly dividend on Wednesday, November 30th. Stockholders of record on Friday, January 6th will be given a dividend of 0.09 per share on Wednesday, January 18th. This represents a $0.36 annualized dividend and a dividend yield of 1.97%.
Gentex Corp. (NASDAQ:GNTX) opened at 18.46 on Wednesday. Gentex Corp. has a 1-year low of $12.93 and a 1-year high of $18.51. The stock has a 50 day moving average of $17.32 and a 200 day moving average of $16.98. The stock has a market capitalization of $5.29 billion, a P/E ratio of 15.37 and a beta of 0.84.
Gentex Corp. (NASDAQ:GNTX) last announced its quarterly earnings data on Thursday, October 20th. The company reported $0.32 EPS for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.02. The company earned $429.60 million during the quarter, compared to the consensus estimate of $428.43 million. Gentex Corp. had a net margin of 20.86% and a return on equity of 19.53%. Gentex Corp.’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.27 EPS. On average, analysts expect that Gentex Corp. will post $1.21 earnings per share for the current year.
TRADEMARK VIOLATION NOTICE: This piece of content was originally published by Daily Political and is owned by of Daily Political. If you are viewing this piece of content on another domain, it was stolen and reposted in violation of U.S. and international copyright and trademark legislation. The legal version of this piece of content can be read at http://www.dailypolitical.com/2016/11/30/gentex-corp-to-issue-quarterly-dividend-of-0-09-gntx.html.
A number of equities analysts have commented on the stock. Zacks Investment Research downgraded shares of Gentex Corp. from a “buy” rating to a “hold” rating in a research report on Monday, November 21st. 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. Finally, FBR & Co upped their price objective on shares of Gentex Corp. from $20.00 to $22.00 and gave the stock an “outperform” rating in a research report on Friday, October 21st.
In related news, VP Joseph E. Iv Matthews sold 2,244 shares of the stock in a transaction dated Friday, November 18th. The shares were sold at an average price of $18.00, for a total value of $40,392.00. Following the sale, the vice president now directly owns 17,614 shares of the company’s stock, valued at approximately $317,052. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director James H. Wallace sold 12,000 shares of the stock in a transaction dated Tuesday, October 25th. The shares were sold at an average price of $16.78, for a total transaction of $201,360.00. Following the completion of the sale, the director now directly owns 29,400 shares in the company, valued at $493,332. The disclosure for this sale can be found here. Insiders own 2.90% of the company’s stock.
A number of large investors have recently modified their holdings of GNTX. BlackRock Investment Management LLC boosted its stake in shares of Gentex Corp. by 1.8% in the second quarter. BlackRock Investment Management LLC now owns 832,246 shares of the company’s stock worth $12,858,000 after buying an additional 14,934 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Gentex Corp. by 22.8% in the second quarter. BlackRock Inc. now owns 166,153 shares of the company’s stock worth $2,567,000 after buying an additional 30,832 shares during the last quarter. BlackRock Fund Advisors boosted its stake in shares of Gentex Corp. by 4.5% in the second quarter. BlackRock Fund Advisors now owns 10,156,345 shares of the company’s stock worth $156,916,000 after buying an additional 439,765 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in shares of Gentex Corp. by 2.5% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 8,611,510 shares of the company’s stock worth $133,048,000 after buying an additional 212,298 shares during the last quarter. Finally, Bank of Nova Scotia boosted its stake in shares of Gentex Corp. by 14.5% in the second quarter. Bank of Nova Scotia now owns 38,581 shares of the company’s stock worth $596,000 after buying an additional 4,881 shares during the last quarter. 85.25% of the stock is currently owned by hedge funds and other institutional investors.
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.
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.