Mizuho Asset Management Co. Ltd. Purchases New Position in Gentex Corp. (GNTX)
Mizuho Asset Management Co. Ltd. bought a new stake in shares of Gentex Corp. (NASDAQ:GNTX) during the second quarter, Holdings Channel reports. The institutional investor bought 12,230 shares of the company’s stock, valued at approximately $189,000.
Several other institutional investors have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its position in Gentex Corp. by 4.5% in the first quarter. Geode Capital Management LLC now owns 3,095,133 shares of the company’s stock valued at $48,561,000 after buying an additional 132,633 shares during the period. OMERS ADMINISTRATION Corp bought a new stake in Gentex Corp. during the first quarter valued at approximately $391,000. First Republic Investment Management Inc. boosted its stake in Gentex Corp. by 14.2% in the first quarter. First Republic Investment Management Inc. now owns 130,573 shares of the company’s stock valued at $2,049,000 after buying an additional 16,224 shares in the last quarter. Credit Agricole S A boosted its stake in Gentex Corp. by 51.0% in the first quarter. Credit Agricole S A now owns 20,053 shares of the company’s stock valued at $315,000 after buying an additional 6,770 shares in the last quarter. Finally, Royal Bank of Canada boosted its stake in Gentex Corp. by 6.7% in the first quarter. Royal Bank of Canada now owns 1,480,058 shares of the company’s stock valued at $23,222,000 after buying an additional 92,876 shares in the last quarter. Institutional investors and hedge funds own 86.22% of the company’s stock.
Shares of Gentex Corp. (NASDAQ:GNTX) traded up 1.0132% during midday trading on Wednesday, hitting $17.5662. The stock had a trading volume of 145,033 shares. The stock has a market cap of $5.04 billion, a P/E ratio of 15.4089 and a beta of 1.09. Gentex Corp. has a 12-month low of $12.93 and a 12-month high of $18.30. The stock has a 50-day moving average price of $17.74 and a 200-day moving average price of $16.40.
Gentex Corp. (NASDAQ:GNTX) last announced its quarterly earnings results on Friday, July 22nd. The company reported $0.30 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.01. The business had revenue of $423.80 million for the quarter, compared to analyst estimates of $416.99 million. Gentex Corp. had a return on equity of 19.26% and a net margin of 20.52%. The company’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.26 EPS. Equities analysts forecast that Gentex Corp. will post $1.20 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 19th. Stockholders of record on Friday, October 7th will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 2.07%. The ex-dividend date is Wednesday, October 5th. Gentex Corp.’s dividend payout ratio (DPR) is 31.30%.
GNTX has been the subject of several recent research reports. FBR & Co reaffirmed a “buy” rating on shares of Gentex Corp. in a report on Saturday, June 18th. Zacks Investment Research raised Gentex Corp. from a “hold” rating to a “buy” rating and set a $17.00 target price for the company in a research note on Friday, June 24th. Finally, Wells Fargo & Co. reissued an “outperform” rating and set a $19.00 target price on shares of Gentex Corp. in a research note on Tuesday, September 13th.
In other news, Chairman Fred Bauer sold 696,000 shares of the business’s stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $18.03, for a total transaction of $12,548,880.00. Following the sale, the chairman now owns 6,011,728 shares of the company’s stock, valued at approximately $108,391,455.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gary F. Goode sold 24,000 shares of the business’s stock in a transaction that occurred on Monday, July 25th. The stock was sold at an average price of $17.57, for a total value of $421,680.00. Following the sale, the director now directly owns 28,000 shares in the company, valued at approximately $491,960. The disclosure for this sale can be found here. Insiders own 2.90% of the company’s stock.
About Gentex Corp.
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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