Zhang Financial LLC Takes $211,000 Position in Gentex Co. (NASDAQ:GNTX)

Zhang Financial LLC purchased a new stake in shares of Gentex Co. (NASDAQ:GNTX) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 8,568 shares of the auto parts company’s stock, valued at approximately $211,000.

Several other large investors also recently modified their holdings of the company. Norris Perne & French LLP MI increased its holdings in shares of Gentex by 2.9% during the first quarter. Norris Perne & French LLP MI now owns 19,431 shares of the auto parts company’s stock valued at $402,000 after acquiring an additional 544 shares in the last quarter. Parallel Advisors LLC boosted its position in shares of Gentex by 23.7% during the first quarter. Parallel Advisors LLC now owns 2,857 shares of the auto parts company’s stock valued at $59,000 after buying an additional 547 shares during the last quarter. Azimuth Capital Management LLC boosted its position in shares of Gentex by 0.5% during the first quarter. Azimuth Capital Management LLC now owns 106,800 shares of the auto parts company’s stock valued at $2,209,000 after buying an additional 550 shares during the last quarter. Mason Street Advisors LLC boosted its position in shares of Gentex by 0.4% during the first quarter. Mason Street Advisors LLC now owns 137,852 shares of the auto parts company’s stock valued at $2,851,000 after buying an additional 555 shares during the last quarter. Finally, Strs Ohio boosted its position in shares of Gentex by 4.1% during the first quarter. Strs Ohio now owns 14,086 shares of the auto parts company’s stock valued at $291,000 after buying an additional 558 shares during the last quarter. Hedge funds and other institutional investors own 82.74% of the company’s stock.

NASDAQ:GNTX traded up $0.15 on Friday, hitting $27.04. The stock had a trading volume of 1,416,033 shares, compared to its average volume of 1,940,871. The stock has a market cap of $7.01 billion, a PE ratio of 16.69, a price-to-earnings-growth ratio of 3.26 and a beta of 1.22. The business has a 50-day moving average price of $24.87. Gentex Co. has a 52-week low of $17.80 and a 52-week high of $27.94.

Gentex (NASDAQ:GNTX) last posted its quarterly earnings data on Friday, July 19th. The auto parts company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.40 by $0.02. Gentex had a return on equity of 23.08% and a net margin of 23.28%. The firm had revenue of $468.71 million for the quarter, compared to the consensus estimate of $462.65 million. During the same quarter last year, the company earned $0.40 earnings per share. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, equities analysts forecast that Gentex Co. will post 1.68 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 24th. Stockholders of record on Wednesday, July 10th were paid a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 1.70%. The ex-dividend date of this dividend was Tuesday, July 9th. Gentex’s dividend payout ratio (DPR) is currently 28.40%.

In other news, insider Steven R. Downing sold 3,810 shares of the firm’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $25.32, for a total value of $96,469.20. Following the transaction, the insider now owns 124,078 shares of the company’s stock, valued at $3,141,654.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Matthew Chiodo sold 5,560 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $27.07, for a total value of $150,509.20. Following the completion of the transaction, the vice president now directly owns 30,776 shares in the company, valued at approximately $833,106.32. The disclosure for this sale can be found here. Insiders sold 36,394 shares of company stock worth $937,122 in the last ninety days. Corporate insiders own 0.37% of the company’s stock.

GNTX has been the topic of several recent analyst reports. 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 report on Tuesday, July 23rd. BidaskClub raised Gentex from a “sell” rating to a “hold” rating in a research report on Tuesday. Longbow Research reaffirmed a “hold” rating on shares of Gentex in a research report on Sunday, July 7th. ValuEngine cut Gentex from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, B. Riley set a $29.00 price objective on Gentex and gave the company a “buy” rating in a research report on Friday, July 19th. Eight analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Gentex presently has a consensus rating of “Hold” and a consensus target price of $23.66.

Gentex Company Profile

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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Institutional Ownership by Quarter for Gentex (NASDAQ:GNTX)

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