Victory Capital Management Inc. Has $1.29 Million Stake in Gentex Corporation (GNTX)
Victory Capital Management Inc. boosted its stake in Gentex Corporation (NASDAQ:GNTX) by 21.1% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 60,645 shares of the auto parts company’s stock after buying an additional 10,580 shares during the period. Victory Capital Management Inc.’s holdings in Gentex Corporation were worth $1,294,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently added to or reduced their stakes in GNTX. Russell Investments Group Ltd. purchased a new stake in Gentex Corporation during the fourth quarter valued at $1,515,000. Dimensional Fund Advisors LP boosted its stake in Gentex Corporation by 8.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,734,680 shares of the auto parts company’s stock valued at $73,540,000 after buying an additional 286,623 shares during the last quarter. Federated Investors Inc. PA boosted its stake in Gentex Corporation by 1.3% in the fourth quarter. Federated Investors Inc. PA now owns 160,234 shares of the auto parts company’s stock valued at $3,155,000 after buying an additional 2,011 shares during the last quarter. Elkfork Partners LLC purchased a new stake in Gentex Corporation during the fourth quarter valued at $308,000. Finally, Aviva PLC boosted its stake in Gentex Corporation by 4.7% in the fourth quarter. Aviva PLC now owns 192,138 shares of the auto parts company’s stock valued at $3,785,000 after buying an additional 8,681 shares during the last quarter. 83.50% of the stock is owned by institutional investors and hedge funds.
Gentex Corporation (NASDAQ:GNTX) opened at 18.49 on Tuesday. The firm’s 50-day moving average price is $19.27 and its 200-day moving average price is $20.29. Gentex Corporation has a 1-year low of $14.66 and a 1-year high of $22.12. The company has a market cap of $5.31 billion, a price-to-earnings ratio of 14.91 and a beta of 1.12.
Gentex Corporation (NASDAQ:GNTX) last posted its earnings results on Friday, April 21st. The auto parts company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.02. The firm had revenue of $453.54 million for the quarter, compared to the consensus estimate of $444.92 million. Gentex Corporation had a return on equity of 19.39% and a net margin of 21.13%. The business’s quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.28 earnings per share. Equities research analysts forecast that Gentex Corporation will post $1.31 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 19th. Investors of record on Thursday, July 6th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date is Monday, July 3rd. This is an increase from Gentex Corporation’s previous quarterly dividend of $0.09. Gentex Corporation’s dividend payout ratio (DPR) is 28.57%.
Several analysts recently weighed in on GNTX shares. BMO Capital Markets reissued a “positive” rating and set a $25.00 price target on shares of Gentex Corporation in a report on Friday, March 24th. Zacks Investment Research cut Gentex Corporation from a “hold” rating to a “sell” rating in a report on Thursday, March 30th. Finally, Wellington Shields cut Gentex Corporation from a “gradually accumulate” rating to a “hold” rating in a report on Thursday, May 4th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $23.10.
In related news, insider Kevin C. Nash sold 1,694 shares of the stock in a transaction on Tuesday, April 25th. The stock was sold at an average price of $20.65, for a total value of $34,981.10. Following the sale, the insider now owns 36,746 shares in the company, valued at $758,804.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Scott P. Ryan sold 4,920 shares of the stock in a transaction on Monday, April 24th. The stock was sold at an average price of $20.38, for a total value of $100,269.60. Following the completion of the sale, the general counsel now owns 18,585 shares in the company, valued at approximately $378,762.30. The disclosure for this sale can be found here. Insiders sold 55,610 shares of company stock worth $1,139,229 in the last quarter. 2.50% of the stock is currently owned by company insiders.
About Gentex Corporation
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 business segment involves designing, developing, manufacturing and marketing interior and exterior automatic-dimming automotive rearview mirrors that utilize electrochromic technology to dim in proportion to the amount of headlight glare from trailing vehicle headlamps.
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