Riverhead Capital Management LLC raised its holdings in shares of Gentex Co. (NASDAQ:GNTX) by 19.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 376,961 shares of the auto parts company’s stock after acquiring an additional 62,550 shares during the quarter. Riverhead Capital Management LLC’s holdings in Gentex were worth $7,796,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also modified their holdings of the company. Norris Perne & French LLP MI boosted its stake in shares of Gentex by 2.9% during the 1st quarter. Norris Perne & French LLP MI now owns 19,431 shares of the auto parts company’s stock worth $402,000 after acquiring an additional 544 shares during the last quarter. Parallel Advisors LLC boosted its stake in shares of Gentex by 23.7% during the 1st quarter. Parallel Advisors LLC now owns 2,857 shares of the auto parts company’s stock worth $59,000 after acquiring an additional 547 shares during the last quarter. Azimuth Capital Management LLC boosted its stake in shares of Gentex by 0.5% during the 1st quarter. Azimuth Capital Management LLC now owns 106,800 shares of the auto parts company’s stock worth $2,209,000 after acquiring an additional 550 shares during the last quarter. Mason Street Advisors LLC boosted its stake in shares of Gentex by 0.4% during the 1st quarter. Mason Street Advisors LLC now owns 137,852 shares of the auto parts company’s stock worth $2,851,000 after acquiring an additional 555 shares during the last quarter. Finally, Strs Ohio boosted its stake in shares of Gentex by 4.1% during the 1st quarter. Strs Ohio now owns 14,086 shares of the auto parts company’s stock worth $291,000 after acquiring an additional 558 shares during the last quarter. Institutional investors and hedge funds own 82.67% of the company’s stock.
Shares of GNTX traded up $0.02 during trading hours on Wednesday, reaching $23.86. 26,266 shares of the stock traded hands, compared to its average volume of 1,748,175. Gentex Co. has a 52-week low of $17.80 and a 52-week high of $25.41. The stock has a market cap of $6.09 billion, a price-to-earnings ratio of 14.72, a price-to-earnings-growth ratio of 2.39 and a beta of 1.15.
Gentex (NASDAQ:GNTX) last released its earnings results on Wednesday, April 24th. The auto parts company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.01. Gentex had a net margin of 23.45% and a return on equity of 23.03%. The company had revenue of $468.60 million for the quarter, compared to analysts’ expectations of $463.79 million. During the same quarter in the previous year, the company earned $0.40 EPS. Gentex’s revenue for the quarter was up .7% on a year-over-year basis. On average, equities research analysts anticipate that Gentex Co. will post 1.64 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Wednesday, July 10th will be paid a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 1.93%. Gentex’s dividend payout ratio (DPR) is 28.40%.
Several research analysts have recently weighed in on the stock. BidaskClub cut shares of Gentex from a “buy” rating to a “hold” rating in a research note on Tuesday. Zacks Investment Research upgraded shares of Gentex from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a research note on Wednesday. Finally, ValuEngine upgraded shares of Gentex from a “sell” rating to a “hold” rating in a research note on Friday, March 1st. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Gentex currently has an average rating of “Hold” and an average target price of $22.28.
In related news, Director Gary F. Goode sold 5,045 shares of Gentex stock in a transaction on Monday, April 29th. The shares were sold at an average price of $23.20, for a total transaction of $117,044.00. Following the transaction, the director now owns 21,045 shares in the company, valued at approximately $488,244. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Matthew Chiodo sold 3,000 shares of Gentex stock in a transaction on Monday, March 18th. The shares were sold at an average price of $20.82, for a total transaction of $62,460.00. Following the transaction, the vice president now owns 34,454 shares in the company, valued at approximately $717,332.28. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 2,009 shares of company stock worth $35,318 and have sold 10,731 shares worth $235,427. 0.37% of the stock is currently owned by insiders.
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Gentex Corporation provides digital vision, connected car, dimmable glass, and fire protection products worldwide. It designs, develops, manufactures, and markets automotive products, including interior and exterior electrochromic automatic-dimming rearview mirrors, automotive electronics, and non-automatic-dimming rearview mirrors 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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