Kornitzer Capital Management Inc. KS Has $505,000 Stake in Gentex Corporation (NASDAQ:GNTX)
Kornitzer Capital Management Inc. KS reduced its position in Gentex Corporation (NASDAQ:GNTX) by 5.6% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 26,598 shares of the auto parts company’s stock after selling 1,575 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Gentex Corporation were worth $505,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Quadrant Capital Group LLC boosted its stake in shares of Gentex Corporation by 9.1% in the first quarter. Quadrant Capital Group LLC now owns 5,660 shares of the auto parts company’s stock worth $117,000 after buying an additional 471 shares in the last quarter. Asset Management One Co. Ltd. boosted its stake in shares of Gentex Corporation by 11.4% in the first quarter. Asset Management One Co. Ltd. now owns 8,500 shares of the auto parts company’s stock worth $181,000 after buying an additional 870 shares in the last quarter. BB&T Corp bought a new stake in shares of Gentex Corporation during the first quarter worth $200,000. Reynders McVeigh Capital Management LLC bought a new stake in shares of Gentex Corporation during the first quarter worth $204,000. Finally, LVM Capital Management Ltd. MI bought a new stake in shares of Gentex Corporation during the second quarter worth $194,000. 82.40% of the stock is owned by institutional investors.
Gentex Corporation (GNTX) opened at 17.44 on Wednesday. Gentex Corporation has a 52-week low of $16.06 and a 52-week high of $22.12. The firm has a market cap of $5.00 billion, a PE ratio of 13.84 and a beta of 1.18. The company’s 50 day moving average price is $18.13 and its 200 day moving average price is $19.82.
Gentex Corporation (NASDAQ:GNTX) last issued its earnings results on Friday, July 21st. The auto parts company reported $0.31 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by $0.01. Gentex Corporation had a net margin of 21.01% and a return on equity of 18.95%. The firm had revenue of $443.10 million during the quarter, compared to analyst estimates of $446.36 million. During the same quarter last year, the business posted $0.30 earnings per share. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. Analysts predict that Gentex Corporation will post $1.27 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, July 19th. Investors of record on Thursday, July 6th were paid a $0.10 dividend. This is an increase from Gentex Corporation’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a yield of 2.29%. The ex-dividend date of this dividend was Monday, July 3rd. Gentex Corporation’s dividend payout ratio (DPR) is 31.50%.
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A number of brokerages have weighed in on GNTX. BidaskClub cut Gentex Corporation from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 27th. FBR & Co reissued an “outperform” rating and set a $25.00 price objective on shares of Gentex Corporation in a research report on Monday, July 24th. Craig Hallum cut Gentex Corporation from a “buy” rating to a “hold” rating and set a $18.00 price objective for the company. in a research report on Monday, July 24th. BMO Capital Markets reissued an “outperform” rating and set a $22.00 price objective (down previously from $25.00) on shares of Gentex Corporation in a research report on Monday, July 24th. Finally, Wellington Shields cut Gentex Corporation from a “gradually accumulate” rating to a “hold” rating in a research report on Thursday, May 4th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. Gentex Corporation has an average rating of “Hold” and an average target price of $21.75.
In related news, Director John A. Mulder sold 10,000 shares of the firm’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $19.22, for a total value of $192,200.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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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