Gentex Corporation (GNTX) Stake Lessened by King Luther Capital Management Corp

King Luther Capital Management Corp decreased its holdings in Gentex Corporation (NASDAQ:GNTX) by 21.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 357,775 shares of the auto parts company’s stock after selling 96,135 shares during the period. King Luther Capital Management Corp owned approximately 0.13% of Gentex worth $7,084,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Engineers Gate Manager LP grew its position in Gentex by 269.5% during the 3rd quarter. Engineers Gate Manager LP now owns 88,318 shares of the auto parts company’s stock worth $1,749,000 after acquiring an additional 64,414 shares during the last quarter. Stifel Financial Corp grew its position in Gentex by 7.0% during the 3rd quarter. Stifel Financial Corp now owns 86,327 shares of the auto parts company’s stock worth $1,712,000 after acquiring an additional 5,679 shares during the last quarter. Artisan Partners Limited Partnership grew its position in Gentex by 3.6% during the 3rd quarter. Artisan Partners Limited Partnership now owns 6,827,345 shares of the auto parts company’s stock worth $135,181,000 after acquiring an additional 237,855 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Gentex by 8.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 4,737,248 shares of the auto parts company’s stock worth $93,798,000 after acquiring an additional 379,747 shares during the last quarter. Finally, BB&T Securities LLC grew its position in Gentex by 19.8% during the 3rd quarter. BB&T Securities LLC now owns 25,026 shares of the auto parts company’s stock worth $495,000 after acquiring an additional 4,143 shares during the last quarter. Institutional investors and hedge funds own 81.84% of the company’s stock.

In other news, insider Kevin C. Nash sold 4,320 shares of the company’s stock in a transaction that occurred on Wednesday, September 27th. The stock was 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 directly owns 30,732 shares of the company’s stock, valued at $605,420.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Steven R. Downing sold 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 27th. The shares were sold at an average price of $19.70, for a total value of $157,600.00. Following the completion of the transaction, the chief financial officer now directly owns 47,362 shares of the company’s stock, valued at $933,031.40. The disclosure for this sale can be found here. Corporate insiders own 2.50% of the company’s stock.

A number of equities research analysts have commented on the company. B. Riley reiterated a “buy” rating on shares of Gentex in a research report on Wednesday, November 1st. Robert W. Baird upgraded Gentex from a “neutral” rating to an “outperform” rating and upped their price target for the company from $17.36 to $22.00 in a research report on Thursday, August 24th. Zacks Investment Research upgraded Gentex from a “sell” rating to a “hold” rating in a research report on Tuesday, August 29th. FBR & Co reissued a “buy” rating and issued a $25.00 price objective on shares of Gentex in a research note on Wednesday, October 18th. Finally, KeyCorp reissued a “buy” rating and issued a $25.00 price objective on shares of Gentex in a research note on Sunday, October 15th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $22.06.

Gentex Corporation (GNTX) opened at $20.33 on Thursday. Gentex Corporation has a 52 week low of $16.59 and a 52 week high of $22.12. The firm has a market capitalization of $5,766.06, a P/E ratio of 16.12, a P/E/G ratio of 1.65 and a beta of 1.21.

Gentex (NASDAQ:GNTX) last posted its quarterly earnings results on Friday, October 20th. The auto parts company reported $0.31 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.31. Gentex had a return on equity of 18.45% and a net margin of 20.80%. The business had revenue of $438.63 million for the quarter, compared to the consensus estimate of $452.42 million. During the same period in the prior year, the business earned $0.32 EPS. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. equities research analysts predict that Gentex Corporation will post 1.27 EPS for the current year.

Gentex declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, August 23rd that permits the company to buyback 15,000,000 shares. This buyback authorization permits the auto parts company to purchase shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 17th. Stockholders of record on Friday, January 5th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.97%. The ex-dividend date is Thursday, January 4th. Gentex’s dividend payout ratio (DPR) is presently 31.75%.

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About Gentex

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.

Institutional Ownership by Quarter for Gentex (NASDAQ:GNTX)

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