Gentex Corporation (GNTX) Insider Kevin C. Nash Sells 4,320 Shares
Gentex Corporation (NASDAQ:GNTX) insider Kevin C. Nash sold 4,320 shares of the firm’s stock in a transaction dated Wednesday, September 27th. The shares were sold at an average price of $19.70, for a total value of $85,104.00. Following the completion of the transaction, the insider now owns 30,732 shares in the company, valued at approximately $605,420.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of Gentex Corporation (NASDAQ:GNTX) traded down 0.15% during trading on Friday, reaching $19.80. The company’s stock had a trading volume of 1,168,230 shares. Gentex Corporation has a 12 month low of $16.06 and a 12 month high of $22.12. The company’s 50 day moving average price is $17.87 and its 200 day moving average price is $19.16. The firm has a market cap of $5.65 billion, a PE ratio of 15.71 and a beta of 1.15.
Gentex Corporation (NASDAQ:GNTX) last released its quarterly earnings results on Friday, July 21st. The auto parts company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.01). Gentex Corporation had a net margin of 21.01% and a return on equity of 18.95%. The company had revenue of $443.10 million during the quarter, compared to the consensus estimate of $446.36 million. During the same quarter last year, the firm posted $0.30 EPS. The company’s quarterly revenue was up 4.6% on a year-over-year basis. On average, equities analysts predict that Gentex Corporation will post $1.27 earnings per share for the current year.
Gentex Corporation announced that its board has approved a share repurchase plan on Wednesday, August 23rd that authorizes the company to repurchase 15,000,000 outstanding shares. This repurchase authorization authorizes the auto parts company to buy shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 18th. Shareholders of record on Friday, October 6th will be given a $0.10 dividend. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.02%. Gentex Corporation’s dividend payout ratio (DPR) is presently 31.50%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in GNTX. Northwestern Mutual Wealth Management Co. grew its position in shares of Gentex Corporation by 7.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,293 shares of the auto parts company’s stock valued at $100,000 after buying an additional 368 shares during the last quarter. Asset Management One Co. Ltd. grew its position in shares of Gentex Corporation by 11.4% in the 1st 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 bought a new stake in shares of Gentex Corporation in the 2nd quarter valued at about $194,000. Sheaff Brock Investment Advisors LLC bought a new stake in shares of Gentex Corporation in the 2nd quarter valued at about $194,000. Finally, Verition Fund Management LLC bought a new stake in shares of Gentex Corporation in the 2nd quarter valued at about $195,000. Hedge funds and other institutional investors own 80.83% of the company’s stock.
Several equities analysts recently issued reports on the company. Zacks Investment Research upgraded Gentex Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, August 29th. Robert W. Baird upgraded Gentex Corporation from a “neutral” rating to an “outperform” rating and raised their price target for the company from $17.36 to $22.00 in a report on Thursday, August 24th. Craig Hallum cut Gentex Corporation from a “buy” rating to a “hold” rating and set a $18.00 price target on the stock. in a report on Monday, July 24th. BMO Capital Markets reiterated an “outperform” rating and issued a $22.00 price target (down previously from $25.00) on shares of Gentex Corporation in a report on Monday, July 24th. Finally, FBR & Co reiterated an “outperform” rating and issued a $25.00 price target on shares of Gentex Corporation in a report on Monday, July 24th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $21.79.
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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