Empirical Finance LLC acquired a new stake in shares of Gentex Corporation (NASDAQ:GNTX) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 59,817 shares of the company’s stock, valued at approximately $1,178,000. Gentex Corporation comprises approximately 0.8% of Empirical Finance LLC’s investment portfolio, making the stock its 26th largest position.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. American Capital Management Inc. bought a new position in Gentex Corporation during the third quarter valued at approximately $41,181,000. Hendershot Investments Inc. increased its position in Gentex Corporation by 2.6% in the third quarter. Hendershot Investments Inc. now owns 228,695 shares of the company’s stock valued at $4,016,000 after buying an additional 5,850 shares during the period. First Quadrant L P CA increased its position in Gentex Corporation by 71.2% in the third quarter. First Quadrant L P CA now owns 1,322,432 shares of the company’s stock valued at $23,222,000 after buying an additional 550,132 shares during the period. California State Teachers Retirement System increased its position in Gentex Corporation by 0.8% in the third quarter. California State Teachers Retirement System now owns 610,430 shares of the company’s stock valued at $10,719,000 after buying an additional 5,100 shares during the period. Finally, Great West Life Assurance Co. Can increased its position in Gentex Corporation by 0.9% in the third quarter. Great West Life Assurance Co. Can now owns 247,793 shares of the company’s stock valued at $4,349,000 after buying an additional 2,210 shares during the period. 83.86% of the stock is owned by institutional investors and hedge funds.
Shares of Gentex Corporation (NASDAQ:GNTX) traded up 0.15% during mid-day trading on Tuesday, reaching $20.60. 1,193,475 shares of the company’s stock traded hands. Gentex Corporation has a 12-month low of $13.99 and a 12-month high of $21.89. The company’s 50-day moving average price is $20.62 and its 200-day moving average price is $18.59. The stock has a market capitalization of $5.91 billion, a PE ratio of 17.31 and a beta of 0.96.
Gentex Corporation (NASDAQ:GNTX) last released its earnings results on Friday, January 27th. The company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by $0.01. The company had revenue of $419.90 million for the quarter. Gentex Corporation had a return on equity of 19.05% and a net margin of 20.70%. The firm’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.30 earnings per share. Analysts anticipate that Gentex Corporation will post $1.31 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, January 18th. Stockholders of record on Friday, January 6th were paid a dividend of $0.09 per share. The ex-dividend date was Wednesday, January 4th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.75%. Gentex Corporation’s dividend payout ratio is currently 29.75%.
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A number of brokerages recently commented on GNTX. Zacks Investment Research downgraded shares of Gentex Corporation from a “buy” rating to a “hold” rating in a report on Monday, November 21st. FBR & Co increased their price target on shares of Gentex Corporation from $22.00 to $25.00 and gave the company an “outperform” rating in a report on Friday, January 13th. Wellington Shields downgraded shares of Gentex Corporation from a “buy” rating to an “accumulate” rating in a report on Friday, January 27th. Wells Fargo & Company reaffirmed an “outperform” rating and issued a $21.50 price target on shares of Gentex Corporation in a report on Tuesday, January 31st. Finally, KeyCorp reaffirmed an “overweight” rating on shares of Gentex Corporation in a report on Monday, January 9th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $22.30.
In related news, CFO Steven R. Downing sold 10,176 shares of the company’s stock in a transaction dated Tuesday, January 31st. The shares were sold at an average price of $20.75, for a total transaction of $211,152.00. Following the completion of the sale, the chief financial officer now owns 46,125 shares of the company’s stock, valued at approximately $957,093.75. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Frederick A. Sotok sold 12,000 shares of the company’s stock in a transaction dated Monday, January 30th. The shares were sold at an average price of $20.93, for a total transaction of $251,160.00. The disclosure for this sale can be found here. Insiders have sold 28,964 shares of company stock valued at $597,674 in the last three months. Corporate insiders own 2.90% of the company’s stock.
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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