Schroder Investment Management Group Reduces Holdings in Gentex Co. (GNTX)
Schroder Investment Management Group cut its holdings in Gentex Co. (NASDAQ:GNTX) by 14.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,034,522 shares of the auto parts company’s stock after selling 502,500 shares during the quarter. Schroder Investment Management Group owned about 1.13% of Gentex worth $70,219,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Bruderman Asset Management LLC purchased a new stake in Gentex during the second quarter worth about $112,000. Fort L.P. purchased a new stake in Gentex during the second quarter worth about $115,000. MUFG Americas Holdings Corp boosted its holdings in Gentex by 61.9% during the second quarter. MUFG Americas Holdings Corp now owns 5,665 shares of the auto parts company’s stock worth $130,000 after buying an additional 2,165 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new stake in Gentex during the second quarter worth about $166,000. Finally, Suntrust Banks Inc. purchased a new stake in Gentex during the first quarter worth about $200,000. Institutional investors own 85.82% of the company’s stock.
A number of analysts recently commented on the stock. BidaskClub downgraded shares of Gentex from a “buy” rating to a “hold” rating in a report on Saturday, June 23rd. ValuEngine downgraded shares of Gentex from a “buy” rating to a “hold” rating in a report on Monday, July 2nd. Longbow Research reaffirmed a “buy” rating and issued a $28.00 price target on shares of Gentex in a report on Monday, July 23rd. Finally, Zacks Investment Research raised shares of Gentex from a “sell” rating to a “hold” rating in a report on Tuesday, July 17th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. Gentex currently has a consensus rating of “Hold” and an average price target of $25.60.
Gentex (NASDAQ:GNTX) last issued its quarterly earnings results on Friday, July 20th. The auto parts company reported $0.40 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.01). Gentex had a return on equity of 20.27% and a net margin of 24.25%. The company had revenue of $454.98 million for the quarter, compared to analyst estimates of $469.10 million. During the same period last year, the company posted $0.31 EPS. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. Sell-side analysts anticipate that Gentex Co. will post 1.66 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 17th. Stockholders of record on Friday, October 5th will be given a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 2.32%. The ex-dividend date is Thursday, October 4th. Gentex’s payout ratio is currently 34.38%.
In other news, Director Richard O. Schaum bought 5,000 shares of the firm’s stock in a transaction dated Thursday, August 2nd. The stock was acquired at an average cost of $22.99 per share, for a total transaction of $114,950.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kevin C. Nash sold 6,000 shares of the company’s stock in a transaction on Thursday, September 27th. The shares were sold at an average price of $21.50, for a total transaction of $129,000.00. Following the completion of the transaction, the chief financial officer now owns 32,732 shares of the company’s stock, valued at $703,738. The disclosure for this sale can be found here. Insiders bought 5,155 shares of company stock valued at $117,777 in the last three months. Company insiders own 0.60% of the company’s stock.
Gentex Company 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.
Featured Story: Should You Consider an Index Fund?
Receive News & Ratings for Gentex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gentex and related companies with MarketBeat.com's FREE daily email newsletter.