Highland Capital Management LLC Has $3.54 Million Position in Gentex Corporation (GNTX)
Highland Capital Management LLC decreased its position in shares of Gentex Corporation (NASDAQ:GNTX) by 10.3% during the second quarter, Holdings Channel reports. The fund owned 186,585 shares of the auto parts company’s stock after selling 21,446 shares during the period. Highland Capital Management LLC’s holdings in Gentex Corporation were worth $3,540,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of GNTX. Louisiana State Employees Retirement System boosted its position in Gentex Corporation by 2.4% in the first quarter. Louisiana State Employees Retirement System now owns 72,500 shares of the auto parts company’s stock worth $1,546,000 after buying an additional 1,700 shares in the last quarter. Creative Planning boosted its position in Gentex Corporation by 3.5% in the first quarter. Creative Planning now owns 15,954 shares of the auto parts company’s stock worth $340,000 after buying an additional 538 shares in the last quarter. Russell Investments Group Ltd. boosted its position in Gentex Corporation by 17.8% in the first quarter. Russell Investments Group Ltd. now owns 89,479 shares of the auto parts company’s stock worth $1,910,000 after buying an additional 13,542 shares in the last quarter. Highbridge Capital Management LLC acquired a new position in Gentex Corporation during the fourth quarter worth approximately $300,000. Finally, Teachers Advisors LLC boosted its position in Gentex Corporation by 17.8% in the fourth quarter. Teachers Advisors LLC now owns 392,756 shares of the auto parts company’s stock worth $7,733,000 after buying an additional 59,358 shares in the last quarter. 82.74% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Gentex Corporation (NASDAQ GNTX) traded up 0.05% during mid-day trading on Thursday, hitting $18.59. The stock had a trading volume of 1,144,807 shares. The stock has a market cap of $5.34 billion, a P/E ratio of 14.99 and a beta of 1.19. The firm has a 50 day moving average of $18.73 and a 200-day moving average of $20.10. Gentex Corporation has a one year low of $16.06 and a one year high of $22.12.
Gentex Corporation (NASDAQ:GNTX) last released its earnings results on Friday, April 21st. The auto parts company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.02. The business 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% compared to the same quarter last year. During the same quarter last year, the business posted $0.28 earnings per share. Equities research analysts expect that Gentex Corporation will post $1.30 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, July 19th. Stockholders of record on Thursday, July 6th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.15%. The ex-dividend date of this dividend was 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 31.75%.
A number of research firms recently commented on GNTX. Zacks Investment Research cut Gentex Corporation from a “hold” rating to a “sell” rating in a report on Thursday, March 30th. BMO Capital Markets reissued a “positive” rating and issued a $25.00 price target on shares of Gentex Corporation in a report on Friday, March 24th. Finally, Wellington Shields cut Gentex Corporation from a “gradually accumulate” rating to a “hold” rating in a report on Thursday, May 4th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $23.10.
In other news, insider Kevin C. Nash sold 1,694 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now owns 36,746 shares in the company, valued at $758,804.90. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Frederick A. Sotok sold 19,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 27th. The shares were sold at an average price of $20.84, for a total value of $395,960.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 45,610 shares of company stock worth $926,429. Company insiders own 2.50% of the company’s stock.
Gentex Corporation 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 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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