10,490 Shares in Gentex Corporation (GNTX) Acquired by Columbia Asset Management
Columbia Asset Management bought a new position in shares of Gentex Corporation (NASDAQ:GNTX) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 10,490 shares of the auto parts company’s stock, valued at approximately $208,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in GNTX. Northwestern Mutual Wealth Management Co. boosted its stake in Gentex Corporation by 7.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,293 shares of the auto parts company’s stock valued at $100,000 after buying an additional 368 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in Gentex Corporation in the third quarter valued at about $105,000. Sheaff Brock Investment Advisors LLC acquired a new stake in Gentex Corporation in the second quarter valued at about $194,000. Verition Fund Management LLC acquired a new stake in Gentex Corporation in the second quarter valued at about $195,000. Finally, HL Financial Services LLC acquired a new stake in Gentex Corporation in the second quarter valued at about $202,000. 80.83% of the stock is currently owned by institutional investors.
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Shares of Gentex Corporation (NASDAQ:GNTX) traded up $0.08 during mid-day trading on Friday, hitting $18.77. The stock had a trading volume of 2,677,400 shares, compared to its average volume of 2,057,781. Gentex Corporation has a 12-month low of $16.59 and a 12-month high of $22.12. The firm has a market capitalization of $5,306.14, a price-to-earnings ratio of 14.83, a price-to-earnings-growth ratio of 1.52 and a beta of 1.20.
Gentex Corporation (NASDAQ:GNTX) last issued its quarterly earnings data on Friday, October 20th. The auto parts company reported $0.31 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.31. Gentex Corporation had a return on equity of 18.45% and a net margin of 20.80%. The company had revenue of $438.63 million during the quarter, compared to the consensus estimate of $452.42 million. During the same period last year, the company earned $0.32 earnings per share. The firm’s revenue was up 2.1% compared to the same quarter last year. sell-side analysts forecast that Gentex Corporation will post 1.27 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 18th. Stockholders of record on Friday, October 6th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, October 5th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.13%. Gentex Corporation’s dividend payout ratio (DPR) is 31.75%.
Gentex Corporation declared that its Board of Directors has initiated a share buyback program on Wednesday, August 23rd that authorizes the company to buyback 15,000,000 shares. This buyback authorization authorizes the auto parts company to purchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
In other news, insider Kevin C. Nash sold 4,320 shares of the firm’s stock in a transaction dated Wednesday, September 27th. The stock was sold at an average price of $19.70, for a total transaction of $85,104.00. Following the completion of the transaction, the insider now directly owns 30,732 shares in the company, valued at $605,420.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Steven R. Downing sold 8,000 shares of the firm’s stock in a transaction dated Wednesday, September 27th. The stock was sold at an average price of $19.70, for a total value of $157,600.00. Following the transaction, the chief financial officer now owns 47,362 shares of the company’s stock, valued at $933,031.40. The disclosure for this sale can be found here. 2.50% of the stock is owned by company insiders.
Several analysts recently weighed in on GNTX shares. Craig Hallum lowered Gentex Corporation from a “buy” rating to a “hold” rating and set a $18.00 price objective on the stock. in a research note on Monday, July 24th. FBR & Co reaffirmed an “outperform” rating and issued a $25.00 price objective on shares of Gentex Corporation in a research note on Monday, July 24th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $22.00 price objective (down from $25.00) on shares of Gentex Corporation in a research note on Monday, July 24th. BidaskClub lowered Gentex Corporation from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 27th. Finally, Robert W. Baird raised Gentex Corporation from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $17.36 to $22.00 in a research note on Thursday, August 24th. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $22.06.
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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