Hammer Asset Management LLC boosted its position in Gentex Co. (NASDAQ:GNTX) by 0.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 149,969 shares of the auto parts company’s stock after acquiring an additional 543 shares during the quarter. Gentex accounts for approximately 3.0% of Hammer Asset Management LLC’s portfolio, making the stock its 2nd largest holding. Hammer Asset Management LLC owned about 0.06% of Gentex worth $3,691,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Country Trust Bank increased its stake in Gentex by 1.9% in the second quarter. Country Trust Bank now owns 1,026,687 shares of the auto parts company’s stock valued at $25,267,000 after acquiring an additional 18,937 shares during the last quarter. Boston Partners bought a new position in Gentex in the first quarter valued at $76,910,000. Fort L.P. increased its stake in Gentex by 38.9% in the first quarter. Fort L.P. now owns 80,992 shares of the auto parts company’s stock valued at $1,675,000 after acquiring an additional 22,700 shares during the last quarter. State of Alaska Department of Revenue increased its stake in Gentex by 86.3% in the second quarter. State of Alaska Department of Revenue now owns 55,685 shares of the auto parts company’s stock valued at $1,369,000 after acquiring an additional 25,793 shares during the last quarter. Finally, Wedge Capital Management L L P NC grew its stake in shares of Gentex by 4.0% during the first quarter. Wedge Capital Management L L P NC now owns 662,155 shares of the auto parts company’s stock valued at $13,693,000 after buying an additional 25,761 shares during the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.
Shares of NASDAQ:GNTX traded up $0.14 on Thursday, reaching $26.80. 36,476 shares of the company traded hands, compared to its average volume of 1,942,974. The business’s 50-day simple moving average is $25.92 and its 200 day simple moving average is $22.83. Gentex Co. has a 52 week low of $17.80 and a 52 week high of $27.94. The stock has a market capitalization of $6.77 billion, a P/E ratio of 16.57, a price-to-earnings-growth ratio of 3.16 and a beta of 1.22.
Gentex (NASDAQ:GNTX) last posted its earnings results on Friday, July 19th. The auto parts company reported $0.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.02. The company had revenue of $468.71 million for the quarter, compared to analysts’ expectations of $462.65 million. Gentex had a return on equity of 23.08% and a net margin of 23.28%. Gentex’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period last year, the firm earned $0.40 earnings per share. On average, analysts expect that Gentex Co. will post 1.68 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 24th. Investors of record on Wednesday, July 10th were paid a $0.115 dividend. The ex-dividend date of this dividend was Tuesday, July 9th. This represents a $0.46 annualized dividend and a dividend yield of 1.72%. Gentex’s payout ratio is presently 28.40%.
In other Gentex news, Director James A. Hollars sold 14,000 shares of the firm’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $25.32, for a total value of $354,480.00. Following the completion of the sale, the director now directly owns 51,707 shares in the company, valued at $1,309,221.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gary F. Goode sold 2,586 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $27.60, for a total transaction of $71,373.60. Following the completion of the sale, the director now owns 22,989 shares of the company’s stock, valued at $634,496.40. The disclosure for this sale can be found here. Insiders sold 36,394 shares of company stock worth $937,122 over the last three months. 0.37% of the stock is owned by insiders.
A number of research analysts have recently issued reports on GNTX shares. B. Riley set a $29.00 price objective on Gentex and gave the company a “buy” rating in a research note on Friday, July 19th. ValuEngine cut Gentex from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Longbow Research reaffirmed a “hold” rating on shares of Gentex in a research note on Sunday, July 7th. BidaskClub raised Gentex from a “sell” rating to a “hold” rating in a research note on Tuesday, July 30th. Finally, Zacks Investment Research raised Gentex from a “sell” rating to a “hold” rating and set a $28.00 price objective on the stock in a research note on Tuesday, July 23rd. Eight equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Gentex presently has an average rating of “Hold” and a consensus price target of $23.66.
Gentex Corporation provides digital vision, connected car, dimmable glass, and fire protection products worldwide. It designs, develops, manufactures, and markets automotive products, including interior and exterior electrochromic automatic-dimming rearview mirrors, automotive electronics, and non-automatic-dimming rearview mirrors 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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