Gentex Corp. (NASDAQ:GNTX) announced a quarterly dividend on Wednesday, August 31st. Investors of record on Friday, October 7th will be paid a dividend of 0.09 per share on Wednesday, October 19th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date is Wednesday, October 5th.
Shares of Gentex Corp. (NASDAQ:GNTX) opened at 17.42 on Tuesday. The company’s 50 day moving average is $17.69 and its 200-day moving average is $16.53. The firm has a market cap of $5.00 billion, a PE ratio of 15.28 and a beta of 1.10. Gentex Corp. has a 12 month low of $12.93 and a 12 month high of $18.30.
Gentex Corp. (NASDAQ:GNTX) last issued its earnings results on Friday, July 22nd. The company reported $0.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.01. The business had revenue of $423.80 million for the quarter, compared to the consensus estimate of $416.99 million. Gentex Corp. had a net margin of 20.52% and a return on equity of 19.26%. The firm’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.26 earnings per share. Equities research analysts predict that Gentex Corp. will post $1.20 EPS for the current year.
Several research firms have commented on GNTX. Zacks Investment Research upgraded shares of Gentex Corp. from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a report on Friday, June 24th. Wells Fargo & Co. reiterated an “outperform” rating and issued a $19.00 price objective on shares of Gentex Corp. in a report on Tuesday, September 13th. Finally, FBR & Co reiterated a “buy” rating on shares of Gentex Corp. in a report on Saturday, June 18th.
In other news, insider Kevin C. Nash sold 6,412 shares of the business’s stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $17.63, for a total value of $113,043.56. Following the completion of the sale, the insider now owns 31,432 shares of the company’s stock, valued at $554,146.16. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Gary F. Goode sold 24,000 shares of the business’s stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $17.57, for a total transaction of $421,680.00. Following the completion of the sale, the director now directly owns 28,000 shares of the company’s stock, valued at approximately $491,960. The disclosure for this sale can be found here. 2.90% of the stock is currently owned by company insiders.
Several large investors have recently made changes to their positions in GNTX. FMR LLC boosted its stake in shares of Gentex Corp. by 1.1% in the second quarter. FMR LLC now owns 12,314,818 shares of the company’s stock worth $190,264,000 after buying an additional 130,746 shares during the last quarter. BlackRock Fund Advisors boosted its stake in shares of Gentex Corp. by 4.5% in the second quarter. BlackRock Fund Advisors now owns 10,156,345 shares of the company’s stock worth $156,916,000 after buying an additional 439,765 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in shares of Gentex Corp. by 2.5% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 8,611,510 shares of the company’s stock worth $133,048,000 after buying an additional 212,298 shares during the last quarter. Scharf Investments LLC boosted its stake in shares of Gentex Corp. by 5.3% in the second quarter. Scharf Investments LLC now owns 7,193,179 shares of the company’s stock worth $111,135,000 after buying an additional 360,425 shares during the last quarter. Finally, BlackRock Investment Management LLC boosted its stake in shares of Gentex Corp. by 1.8% in the second quarter. BlackRock Investment Management LLC now owns 832,246 shares of the company’s stock worth $12,858,000 after buying an additional 14,934 shares during the last quarter. 86.22% of the stock is owned by institutional investors.
About Gentex Corp.
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 segments include Automotive Products and Other, which includes Fire Protection Products and Dimmable Aircraft Windows.
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