Brandywine Global Investment Management LLC lowered its position in Gentex (NASDAQ:GNTX) by 10.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,059,390 shares of the auto parts company’s stock after selling 128,712 shares during the period. Brandywine Global Investment Management LLC owned approximately 0.37% of Gentex worth $22,195,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. DekaBank Deutsche Girozentrale acquired a new position in Gentex in the third quarter valued at approximately $105,000. Ffcm LLC acquired a new position in Gentex in the 3rd quarter valued at $174,000. Hikari Power Ltd acquired a new position in Gentex in the 4th quarter valued at $203,000. Essex Financial Services Inc. purchased a new stake in Gentex in the 4th quarter valued at $205,000. Finally, Uncommon Cents Investing LLC purchased a new stake in Gentex in the 4th quarter valued at $243,000. Hedge funds and other institutional investors own 84.16% of the company’s stock.
Shares of NASDAQ:GNTX traded down $0.29 during trading on Monday, hitting $22.73. The company’s stock had a trading volume of 2,179,707 shares, compared to its average volume of 2,438,905. Gentex has a fifty-two week low of $16.59 and a fifty-two week high of $24.07. The stock has a market cap of $6,317.17, a price-to-earnings ratio of 17.76, a price-to-earnings-growth ratio of 1.47 and a beta of 1.26.
Gentex (NASDAQ:GNTX) last announced its quarterly earnings results on Friday, January 26th. The auto parts company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.01. The business had revenue of $459.57 million for the quarter, compared to analysts’ expectations of $449.43 million. Gentex had a return on equity of 18.35% and a net margin of 22.66%. The business’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.31 EPS. equities research analysts expect that Gentex will post 1.62 EPS for the current fiscal year.
Gentex declared that its board has authorized a stock repurchase program on Friday, March 9th that authorizes the company to repurchase 20,000,000 shares. This repurchase authorization authorizes the auto parts company to buy shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 18th. Stockholders of record on Friday, April 6th will be issued a $0.11 dividend. The ex-dividend date is Thursday, April 5th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.94%. This is a positive change from Gentex’s previous quarterly dividend of $0.10. Gentex’s dividend payout ratio is presently 31.25%.
In related news, General Counsel Scott P. Ryan sold 7,220 shares of Gentex stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $23.66, for a total transaction of $170,825.20. Following the sale, the general counsel now directly owns 21,329 shares of the company’s stock, valued at $504,644.14. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Fred Bauer sold 946,200 shares of the firm’s stock in a transaction dated Monday, March 12th. The stock was sold at an average price of $23.33, for a total transaction of $22,074,846.00. The disclosure for this sale can be found here. Insiders sold 974,354 shares of company stock valued at $22,734,583 in the last 90 days. Corporate insiders own 2.50% of the company’s stock.
A number of equities analysts have recently weighed in on the company. B. Riley reiterated a “buy” rating and set a $29.00 price target (up from $25.00) on shares of Gentex in a report on Wednesday, January 24th. Robert W. Baird lowered Gentex from an “outperform” rating to a “neutral” rating in a research note on Tuesday, January 23rd. Susquehanna Bancshares set a $24.00 price target on Gentex and gave the company a “hold” rating in a research report on Wednesday, March 14th. Craig Hallum raised their target price on Gentex from $18.00 to $23.00 and gave the stock a “hold” rating in a research report on Monday, January 29th. Finally, Zacks Investment Research upgraded Gentex from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a research note on Wednesday, January 31st. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Gentex presently has an average rating of “Buy” and a consensus target price of $25.33.
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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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