iSAM Funds UK Ltd Invests $497,000 in Gentex Co. (NASDAQ:GNTX)

iSAM Funds UK Ltd acquired a new position in Gentex Co. (NASDAQ:GNTX) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 17,284 shares of the auto parts company’s stock, valued at approximately $497,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Midwest Capital Advisors LLC bought a new position in shares of Gentex during the fourth quarter worth $26,000. TD Private Client Wealth LLC boosted its position in shares of Gentex by 138.8% during the fourth quarter. TD Private Client Wealth LLC now owns 1,139 shares of the auto parts company’s stock worth $33,000 after acquiring an additional 662 shares during the last quarter. Synergy Asset Management LLC bought a new position in shares of Gentex during the fourth quarter worth $34,000. LRI Investments LLC lifted its position in Gentex by 33.2% during the fourth quarter. LRI Investments LLC now owns 2,750 shares of the auto parts company’s stock valued at $79,000 after purchasing an additional 686 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd bought a new position in Gentex during the fourth quarter valued at $96,000. 86.76% of the stock is owned by hedge funds and other institutional investors.

Gentex Trading Down 2.1%

Gentex stock opened at $22.56 on Wednesday. The firm has a 50-day moving average price of $22.44 and a 200-day moving average price of $25.95. The firm has a market capitalization of $5.07 billion, a PE ratio of 12.82, a price-to-earnings-growth ratio of 0.84 and a beta of 0.85. Gentex Co. has a 12-month low of $20.28 and a 12-month high of $35.32.

Gentex (NASDAQ:GNTX) last released its earnings results on Friday, April 25th. The auto parts company reported $0.43 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.43. The firm had revenue of $576.77 million during the quarter, compared to analyst estimates of $578.68 million. Gentex had a net margin of 17.49% and a return on equity of 16.74%. The business’s revenue was down 2.3% on a year-over-year basis. During the same quarter last year, the business earned $0.47 EPS. As a group, sell-side analysts predict that Gentex Co. will post 2.04 earnings per share for the current fiscal year.

Gentex Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 23rd. Investors of record on Wednesday, April 9th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 2.13%. The ex-dividend date of this dividend was Wednesday, April 9th. Gentex’s dividend payout ratio is presently 28.07%.

Wall Street Analyst Weigh In

Several equities analysts have commented on GNTX shares. The Goldman Sachs Group lowered their price objective on shares of Gentex from $28.00 to $23.00 and set a “neutral” rating for the company in a research report on Thursday, April 10th. Robert W. Baird reiterated a “neutral” rating and set a $25.00 price objective (down previously from $31.00) on shares of Gentex in a research report on Tuesday, April 15th. JPMorgan Chase & Co. lowered their price objective on shares of Gentex from $34.00 to $32.00 and set a “neutral” rating for the company in a research report on Monday, February 3rd. B. Riley reiterated a “buy” rating and set a $32.50 price objective (down previously from $37.00) on shares of Gentex in a research report on Monday, February 3rd. Finally, Guggenheim lowered their price objective on shares of Gentex from $30.00 to $24.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Eight equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $28.31.

Insider Buying and Selling

In other Gentex news, Director Joseph B. Anderson, Jr. sold 3,764 shares of the firm’s stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $22.87, for a total transaction of $86,082.68. Following the transaction, the director now owns 5,939 shares of the company’s stock, valued at approximately $135,824.93. This trade represents a 38.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.45% of the stock is currently owned by insiders.

About Gentex

Gentex Corporation designs, develops, manufactures, markets, and supplies digital vision, connected car, dimmable glass, and fire protection products in the United States, Germany, Japan, Mexico, Republic of Korea, and internationally. It operates through Automotive Products and Other segments. The company offers 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, automotive suppliers, and various aftermarket and accessory customers.