Burgundy Asset Management Ltd. boosted its stake in Gentex Corporation (NASDAQ:GNTX) by 4.0% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,796,265 shares of the company’s stock after buying an additional 452,614 shares during the period. Gentex Corporation accounts for about 2.2% of Burgundy Asset Management Ltd.’s portfolio, making the stock its 13th largest position. Burgundy Asset Management Ltd. owned 4.11% of Gentex Corporation worth $232,268,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently added to or reduced their stakes in GNTX. BlackRock Fund Advisors boosted its stake in Gentex Corporation by 3.7% in the third quarter. BlackRock Fund Advisors now owns 10,527,305 shares of the company’s stock valued at $184,859,000 after buying an additional 370,960 shares during the last quarter. Artisan Partners Limited Partnership boosted its stake in Gentex Corporation by 2.5% in the second quarter. Artisan Partners Limited Partnership now owns 7,687,777 shares of the company’s stock valued at $118,776,000 after buying an additional 186,235 shares during the last quarter. Royce & Associates LP boosted its stake in Gentex Corporation by 2.0% in the second quarter. Royce & Associates LP now owns 7,378,091 shares of the company’s stock valued at $113,992,000 after buying an additional 142,048 shares during the last quarter. Neuberger Berman Group LLC boosted its stake in Gentex Corporation by 21.9% in the second quarter. Neuberger Berman Group LLC now owns 3,959,098 shares of the company’s stock valued at $61,168,000 after buying an additional 710,950 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Gentex Corporation by 8.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,734,680 shares of the company’s stock valued at $73,540,000 after buying an additional 286,623 shares during the last quarter. 84.33% of the stock is owned by institutional investors and hedge funds.
Shares of Gentex Corporation (NASDAQ:GNTX) traded up 0.44% during midday trading on Friday, reaching $20.49. The company had a trading volume of 1,506,848 shares. Gentex Corporation has a one year low of $13.99 and a one year high of $21.89. The company has a market capitalization of $5.88 billion, a PE ratio of 17.22 and a beta of 0.96. The company has a 50 day moving average of $20.61 and a 200 day moving average of $18.54.
Gentex Corporation (NASDAQ:GNTX) last announced its quarterly earnings data on Friday, January 27th. The company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.32 by $0.01. Gentex Corporation had a net margin of 20.70% and a return on equity of 19.05%. The firm had revenue of $419.90 million for the quarter. During the same period last year, the business posted $0.30 earnings per share. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. Analysts predict that Gentex Corporation will post $1.31 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 18th. Shareholders of record on Friday, January 6th were issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.76%. The ex-dividend date of this dividend was Wednesday, January 4th. Gentex Corporation’s dividend payout ratio (DPR) is 29.75%.
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Several brokerages have weighed in on GNTX. Wellington Shields cut Gentex Corporation from a “buy” rating to an “accumulate” rating in a report on Friday, January 27th. Zacks Investment Research raised Gentex Corporation from a “sell” rating to a “hold” rating in a report on Thursday, January 26th. Wells Fargo & Company reaffirmed an “outperform” rating and issued a $21.50 price objective on shares of Gentex Corporation in a report on Tuesday, January 31st. FBR & Co lifted their price objective on Gentex Corporation from $22.00 to $25.00 and gave the company an “outperform” rating in a report on Friday, January 13th. Finally, KeyCorp reaffirmed an “overweight” rating on shares of Gentex Corporation in a report on Monday, January 9th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $22.30.
In other Gentex Corporation news, CFO Steven R. Downing sold 10,176 shares of the stock in a transaction on Tuesday, January 31st. The stock was sold at an average price of $20.75, for a total transaction of $211,152.00. Following the sale, the chief financial officer now owns 46,125 shares in the company, valued at $957,093.75. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Frederick A. Sotok sold 12,000 shares of the stock in a transaction on Monday, January 30th. The stock was sold at an average price of $20.93, for a total value of $251,160.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 28,964 shares of company stock valued at $597,674. 2.90% of the stock is owned by corporate insiders.
About Gentex Corporation
Gentex Corporation designs and manufactures automatic-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. The Company’s segments include Automotive Products and Other, which includes Fire Protection Products and Dimmable Aircraft Windows.
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