Malaga Cove Capital LLC purchased a new stake in Gentex Co. (NASDAQ:GNTX) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 28,188 shares of the auto parts company’s stock, valued at approximately $583,000.
Several other institutional investors have also recently modified their holdings of GNTX. Norges Bank bought a new stake in Gentex during the fourth quarter worth about $61,373,000. Oregon Public Employees Retirement Fund raised its holdings in Gentex by 1,889.9% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,153,052 shares of the auto parts company’s stock worth $107,000 after acquiring an additional 2,044,853 shares in the last quarter. Claybrook Capital LLC bought a new stake in Gentex during the fourth quarter worth about $20,588,000. Bank of New York Mellon Corp raised its holdings in Gentex by 24.5% during the third quarter. Bank of New York Mellon Corp now owns 4,966,771 shares of the auto parts company’s stock worth $106,585,000 after acquiring an additional 976,219 shares in the last quarter. Finally, Squarepoint Ops LLC bought a new stake in Gentex during the fourth quarter worth about $19,692,000. Institutional investors own 85.46% of the company’s stock.
GNTX has been the topic of a number of recent analyst reports. Zacks Investment Research raised Gentex from a “sell” rating to a “hold” rating in a research report on Tuesday, April 2nd. BidaskClub downgraded Gentex from a “hold” rating to a “sell” rating in a research report on Friday, March 22nd. ValuEngine raised Gentex from a “sell” rating to a “hold” rating in a research report on Friday, March 1st. Wells Fargo & Co reissued a “buy” rating on shares of Gentex in a research report on Wednesday, January 30th. Finally, Longbow Research downgraded Gentex from a “buy” rating to a “neutral” rating and set a $20.65 price target on the stock. in a research report on Tuesday, February 5th. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $21.78.
Shares of Gentex stock traded up $0.35 on Friday, hitting $23.39. The stock had a trading volume of 1,117,251 shares, compared to its average volume of 1,853,409. Gentex Co. has a twelve month low of $17.80 and a twelve month high of $25.41. The company has a market capitalization of $6.01 billion, a price-to-earnings ratio of 14.44, a PEG ratio of 2.34 and a beta of 1.14.
Gentex (NASDAQ:GNTX) last posted its earnings results on Wednesday, April 24th. The auto parts company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.39 by $0.01. Gentex had a return on equity of 23.03% and a net margin of 23.45%. The company had revenue of $468.60 million for the quarter, compared to the consensus estimate of $463.79 million. During the same quarter in the prior year, the business earned $0.40 earnings per share. The firm’s revenue for the quarter was up .7% on a year-over-year basis. Sell-side analysts predict that Gentex Co. will post 1.64 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, April 24th. Stockholders of record on Wednesday, April 10th were given a $0.115 dividend. This is an increase from Gentex’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $0.46 annualized dividend and a dividend yield of 1.97%. Gentex’s dividend payout ratio is presently 28.40%.
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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