Gentex Corp. (GNTX) Plans $0.09 Quarterly Dividend
Gentex Corp. (NASDAQ:GNTX) declared a quarterly dividend on Wednesday, November 30th. Shareholders of record on Friday, January 6th will be given a dividend of 0.09 per share on Wednesday, January 18th. This represents a $0.36 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date of this dividend is Wednesday, January 4th.
Gentex Corp. (NASDAQ:GNTX) opened at 18.49 on Thursday. The stock has a market capitalization of $5.30 billion, a price-to-earnings ratio of 15.40 and a beta of 0.84. Gentex Corp. has a 12-month low of $12.93 and a 12-month high of $18.51. The firm has a 50-day moving average of $17.32 and a 200-day moving average of $16.98.
Gentex Corp. (NASDAQ:GNTX) last issued its earnings results on Thursday, October 20th. The company reported $0.32 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.02. Gentex Corp. had a return on equity of 19.53% and a net margin of 20.86%. The firm had revenue of $429.60 million for the quarter, compared to analyst estimates of $428.43 million. During the same period last year, the company earned $0.27 earnings per share. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. Equities research analysts forecast that Gentex Corp. will post $1.21 earnings per share for the current fiscal year.
In related news, insider Kevin C. Nash sold 6,210 shares of the stock in a transaction on Tuesday, October 25th. The stock was sold at an average price of $16.68, for a total value of $103,582.80. Following the completion of the transaction, the insider now owns 31,830 shares in the company, valued at approximately $530,924.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Joseph E. Iv Matthews sold 2,244 shares of the stock in a transaction on Friday, November 18th. The shares were sold at an average price of $18.00, for a total value of $40,392.00. Following the completion of the transaction, the vice president now owns 17,614 shares of the company’s stock, valued at approximately $317,052. The disclosure for this sale can be found here. Corporate insiders own 2.90% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Lebenthal Asset Management LLC bought a new position in Gentex Corp. during the second quarter worth $693,000. OMERS ADMINISTRATION Corp raised its position in Gentex Corp. by 1,077.5% in the second quarter. OMERS ADMINISTRATION Corp now owns 293,200 shares of the company’s stock worth $4,530,000 after buying an additional 268,300 shares during the period. Sei Investments Co. raised its position in Gentex Corp. by 0.3% in the second quarter. Sei Investments Co. now owns 216,629 shares of the company’s stock worth $3,348,000 after buying an additional 639 shares during the period. Janney Montgomery Scott LLC raised its position in Gentex Corp. by 106.3% in the second quarter. Janney Montgomery Scott LLC now owns 59,268 shares of the company’s stock worth $916,000 after buying an additional 30,539 shares during the period. Finally, Comerica Bank raised its position in Gentex Corp. by 1.7% in the second quarter. Comerica Bank now owns 297,916 shares of the company’s stock worth $5,362,000 after buying an additional 5,040 shares during the period. Institutional investors and hedge funds own 85.25% of the company’s stock.
A number of brokerages have recently commented on GNTX. FBR & Co raised their price target on Gentex Corp. from $20.00 to $22.00 and gave the company an “outperform” rating in a report on Friday, October 21st. Zacks Investment Research lowered Gentex Corp. from a “buy” rating to a “hold” rating in a report on Monday, November 14th. Finally, Wells Fargo & Co. reissued an “outperform” rating and set a $19.00 price target on shares of Gentex Corp. in a report on Tuesday, September 13th.
Gentex Corp. Company Profile
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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