Sei Investments Co. lowered its position in Gentex Co. (NASDAQ:GNTX) by 26.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 277,972 shares of the auto parts company’s stock after selling 98,762 shares during the quarter. Sei Investments Co.’s holdings in Gentex were worth $6,399,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. bought a new position in shares of Gentex in the first quarter worth $110,000. Essex Financial Services Inc. bought a new position in shares of Gentex in the fourth quarter worth $205,000. Uncommon Cents Investing LLC bought a new position in shares of Gentex in the fourth quarter worth $243,000. Columbia Asset Management bought a new position in shares of Gentex in the first quarter worth $253,000. Finally, Two Sigma Investments LP bought a new position in shares of Gentex in the fourth quarter worth $347,000. 83.32% of the stock is currently owned by hedge funds and other institutional investors.

Gentex opened at $25.18 on Wednesday, according to Marketbeat.com. The firm has a market capitalization of $6.85 billion, a P/E ratio of 19.67, a PEG ratio of 1.14 and a beta of 1.26. Gentex Co. has a 52 week low of $16.59 and a 52 week high of $25.38.

Gentex (NASDAQ:GNTX) last released its earnings results on Friday, April 20th. The auto parts company reported $0.40 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.40. The business had revenue of $465.42 million for the quarter, compared to analysts’ expectations of $478.06 million. Gentex had a return on equity of 19.05% and a net margin of 23.27%. The firm’s revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.33 earnings per share. equities analysts forecast that Gentex Co. will post 1.69 EPS for the current year.

Gentex announced that its board has initiated a stock repurchase plan on Friday, March 9th that allows the company to buyback 20,000,000 shares. This buyback authorization allows the auto parts company to repurchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 18th. Investors of record on Friday, July 6th will be paid a $0.11 dividend. The ex-dividend date is Thursday, July 5th. This represents a $0.44 dividend on an annualized basis and a yield of 1.75%. Gentex’s dividend payout ratio is presently 34.38%.

In other Gentex news, Director Frederick A. Sotok sold 4,000 shares of the company’s stock in a transaction dated Wednesday, May 2nd. The shares were sold at an average price of $22.92, for a total transaction of $91,680.00. Following the completion of the sale, the director now directly owns 31,696 shares in the company, valued at $726,472.32. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.60% of the company’s stock.

GNTX has been the topic of several research analyst reports. ValuEngine raised shares of Gentex from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. BidaskClub cut shares of Gentex from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 31st. Zacks Investment Research raised shares of Gentex from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a report on Monday, April 23rd. Longbow Research reissued a “buy” rating and issued a $28.00 target price on shares of Gentex in a research note on Monday, April 23rd. Finally, Susquehanna Bancshares set a $25.00 target price on Gentex and gave the company a “hold” rating in a research note on Sunday, April 22nd. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $25.60.

Gentex Profile

Gentex Corporation provides automatic-dimming and non-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 worldwide. It designs, develops, manufactures, and markets automotive products, including interior and exterior electrochromic automatic-dimming rearview mirrors, automotive electronics, and interior and exterior non-automatic-dimming rearview mirrors with electronic features 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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