Bright Rock Capital Management LLC Maintains Stake in Gentex Corporation (NASDAQ:GNTX)
Bright Rock Capital Management LLC held its position in Gentex Corporation (NASDAQ:GNTX) during the second quarter, Holdings Channel reports. The firm owned 71,000 shares of the auto parts company’s stock at the end of the second quarter. Bright Rock Capital Management LLC’s holdings in Gentex Corporation were worth $1,347,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC raised its position in Gentex Corporation by 9.1% in the first quarter. Quadrant Capital Group LLC now owns 5,660 shares of the auto parts company’s stock valued at $117,000 after buying an additional 471 shares during the last quarter. Asset Management One Co. Ltd. raised its position in Gentex Corporation by 11.4% in the first quarter. Asset Management One Co. Ltd. now owns 8,500 shares of the auto parts company’s stock valued at $181,000 after buying an additional 870 shares during the last quarter. LVM Capital Management Ltd. MI purchased a new position in Gentex Corporation during the second quarter valued at $194,000. BB&T Corp purchased a new position in Gentex Corporation during the first quarter valued at $200,000. Finally, HL Financial Services LLC purchased a new position in Gentex Corporation during the second quarter valued at $202,000. 82.40% of the stock is currently owned by institutional investors and hedge funds.
Gentex Corporation (NASDAQ GNTX) opened at 17.55 on Thursday. Gentex Corporation has a 52 week low of $16.06 and a 52 week high of $22.12. The company has a market cap of $5.03 billion, a price-to-earnings ratio of 13.93 and a beta of 1.18. The firm has a 50-day moving average of $18.05 and a 200-day moving average of $19.74.
Gentex Corporation (NASDAQ:GNTX) last posted its quarterly earnings results on Friday, July 21st. The auto parts company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by $0.01. The business had revenue of $443.10 million for the quarter, compared to the consensus estimate of $446.36 million. Gentex Corporation had a return on equity of 18.95% and a net margin of 21.01%. Gentex Corporation’s quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.30 earnings per share. Equities analysts forecast that Gentex Corporation will post $1.27 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 19th. Shareholders of record on Thursday, July 6th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.28%. This is a boost from Gentex Corporation’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Monday, July 3rd. Gentex Corporation’s dividend payout ratio is presently 31.50%.
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Several research firms recently weighed in on GNTX. Zacks Investment Research raised shares of Gentex Corporation from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a research note on Wednesday, April 26th. BidaskClub lowered shares of Gentex Corporation from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 27th. FBR & Co reissued an “outperform” rating and set a $25.00 price objective on shares of Gentex Corporation in a research note on Monday, July 24th. Craig Hallum lowered shares of Gentex Corporation from a “buy” rating to a “hold” rating and set a $18.00 price objective on the stock. in a research note on Monday, July 24th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $22.00 price objective (down previously from $25.00) on shares of Gentex Corporation in a research note on Monday, July 24th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. Gentex Corporation currently has a consensus rating of “Hold” and a consensus price target of $21.75.
In other Gentex Corporation news, Director John A. Mulder sold 10,000 shares of the stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $19.22, for a total transaction of $192,200.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Fred Bauer sold 239,400 shares of the stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $17.33, for a total value of $4,148,802.00. Following the transaction, the chairman now owns 5,771,128 shares in the company, valued at $100,013,648.24. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by corporate insiders.
Gentex Corporation Company Profile
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 business segment involves designing, developing, manufacturing and marketing interior and exterior automatic-dimming automotive rearview mirrors that utilize electrochromic technology to dim in proportion to the amount of headlight glare from trailing vehicle headlamps.
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