Schroder Investment Management Group trimmed its position in Gentex Co. (NASDAQ:GNTX) by 14.2% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,034,522 shares of the auto parts company’s stock after selling 502,500 shares during the period. Schroder Investment Management Group owned 1.13% of Gentex worth $70,219,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. American International Group Inc. boosted its stake in Gentex by 0.3% in the second quarter. American International Group Inc. now owns 616,195 shares of the auto parts company’s stock valued at $14,185,000 after acquiring an additional 2,098 shares during the period. MUFG Americas Holdings Corp raised its holdings in shares of Gentex by 61.9% during the second quarter. MUFG Americas Holdings Corp now owns 5,665 shares of the auto parts company’s stock valued at $130,000 after buying an additional 2,165 shares during the last quarter. First Republic Investment Management Inc. raised its holdings in shares of Gentex by 12.6% during the first quarter. First Republic Investment Management Inc. now owns 19,891 shares of the auto parts company’s stock valued at $458,000 after buying an additional 2,220 shares during the last quarter. Vident Investment Advisory LLC raised its holdings in shares of Gentex by 1.5% during the second quarter. Vident Investment Advisory LLC now owns 148,838 shares of the auto parts company’s stock valued at $3,426,000 after buying an additional 2,232 shares during the last quarter. Finally, OppenheimerFunds Inc. raised its holdings in shares of Gentex by 9.9% during the second quarter. OppenheimerFunds Inc. now owns 25,636 shares of the auto parts company’s stock valued at $590,000 after buying an additional 2,309 shares during the last quarter. Institutional investors and hedge funds own 85.82% of the company’s stock.
In other Gentex news, CFO Kevin C. Nash sold 6,000 shares of Gentex stock in a transaction that occurred on Thursday, September 27th. The shares were sold at an average price of $21.50, for a total transaction of $129,000.00. Following the transaction, the chief financial officer now directly owns 32,732 shares in the company, valued at approximately $703,738. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Richard O. Schaum acquired 5,000 shares of the stock in a transaction on Thursday, August 2nd. The shares were purchased at an average price of $22.99 per share, for a total transaction of $114,950.00. The disclosure for this purchase can be found here. Insiders acquired 5,155 shares of company stock worth $117,777 in the last ninety days. 0.60% of the stock is owned by corporate insiders.
Shares of NASDAQ GNTX traded down $0.29 during trading on Friday, hitting $18.99. The company had a trading volume of 3,615,193 shares, compared to its average volume of 2,189,760. The stock has a market capitalization of $5.77 billion, a P/E ratio of 14.84, a P/E/G ratio of 1.17 and a beta of 1.31. Gentex Co. has a 52 week low of $18.51 and a 52 week high of $25.41.
Gentex (NASDAQ:GNTX) last posted its quarterly earnings results on Friday, July 20th. The auto parts company reported $0.40 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.01). The company had revenue of $454.98 million during the quarter, compared to the consensus estimate of $469.10 million. Gentex had a net margin of 24.25% and a return on equity of 20.27%. Gentex’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.31 EPS. On average, sell-side analysts predict that Gentex Co. will post 1.66 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 17th. Shareholders of record on Friday, October 5th will be issued a $0.11 dividend. The ex-dividend date of this dividend is Thursday, October 4th. This represents a $0.44 annualized dividend and a dividend yield of 2.32%. Gentex’s dividend payout ratio is currently 34.38%.
A number of equities research analysts have recently weighed in on the company. ValuEngine cut Gentex from a “hold” rating to a “sell” rating in a report on Saturday, October 6th. BidaskClub cut Gentex from a “hold” rating to a “sell” rating in a report on Thursday, September 27th. Zacks Investment Research cut Gentex from a “hold” rating to a “sell” rating in a report on Tuesday, September 18th. Finally, Longbow Research set a $28.00 target price on Gentex and gave the stock a “buy” rating in a report on Friday, August 24th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $25.60.
Gentex Company Profile
Gentex Corporation provides automatic-dimming and non-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 worldwide. It designs, develops, manufactures, and markets automotive products, including interior and exterior electrochromic automatic-dimming rearview mirrors, automotive electronics, and interior and exterior non-automatic-dimming rearview mirrors with electronic features for automotive passenger cars, light trucks, pick-up trucks, sport utility vehicles, and vans for original equipment manufacturers, tier one automotive mirror manufacturers, and various aftermarket and accessory customers.
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