Cape Cod Five Cents Savings Bank Takes Position in Gentex Co. (GNTX)
Cape Cod Five Cents Savings Bank purchased a new position in Gentex Co. (NASDAQ:GNTX) during the first quarter, Holdings Channel reports. The fund purchased 43,074 shares of the auto parts company’s stock, valued at approximately $919,000.
Several other large investors also recently bought and sold shares of the company. Bank of Montreal Can boosted its stake in Gentex by 3.6% in the third quarter. Bank of Montreal Can now owns 82,322 shares of the auto parts company’s stock worth $1,446,000 after buying an additional 2,860 shares during the period. Grimes & Company Inc. boosted its stake in Gentex by 0.4% in the third quarter. Grimes & Company Inc. now owns 305,222 shares of the auto parts company’s stock worth $5,360,000 after buying an additional 1,342 shares during the period. Commonwealth Equity Services Inc boosted its stake in Gentex by 4.9% in the third quarter. Commonwealth Equity Services Inc now owns 41,878 shares of the auto parts company’s stock worth $735,000 after buying an additional 1,967 shares during the period. American Capital Management Inc. bought a new stake in Gentex during the third quarter worth approximately $41,181,000. Finally, Great West Life Assurance Co. Can boosted its stake in Gentex by 0.9% in the third quarter. Great West Life Assurance Co. Can now owns 247,793 shares of the auto parts company’s stock worth $4,349,000 after buying an additional 2,210 shares during the period. 83.86% of the stock is currently owned by institutional investors.
Gentex Co. (NASDAQ:GNTX) traded down 3.57% on Friday, hitting $20.00. 3,426,672 shares of the stock were exchanged. The company has a 50-day moving average of $20.98 and a 200 day moving average of $19.65. The firm has a market cap of $5.75 billion, a P/E ratio of 16.81 and a beta of 0.96. Gentex Co. has a 12 month low of $14.66 and a 12 month high of $22.12.
Gentex (NASDAQ:GNTX) last issued its quarterly earnings data on Friday, April 21st. The auto parts company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.02. Gentex had a net margin of 20.70% and a return on equity of 19.05%. The business earned $453.54 million during the quarter, compared to analysts’ expectations of $444.92 million. During the same period last year, the company posted $0.28 EPS. The business’s revenue was up 11.8% on a year-over-year basis. Equities research analysts expect that Gentex Co. will post $1.31 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 19th. Shareholders of record on Friday, April 7th were paid a $0.09 dividend. The ex-dividend date of this dividend was Wednesday, April 5th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.80%. Gentex’s payout ratio is currently 29.75%.
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A number of equities research analysts have issued reports on the stock. Zacks Investment Research cut shares of Gentex from a “hold” rating to a “sell” rating in a report on Thursday, March 30th. BMO Capital Markets reissued a “positive” rating and set a $25.00 target price on shares of Gentex in a report on Friday, March 24th. Wells Fargo & Co reissued an “outperform” rating and set a $21.50 target price on shares of Gentex in a report on Tuesday, January 31st. Wellington Shields cut shares of Gentex from a “buy” rating to an “accumulate” rating in a report on Friday, January 27th. Finally, FBR & Co boosted their target price on shares of Gentex from $22.00 to $25.00 and gave the company an “outperform” rating in a report on Friday, January 13th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. Gentex has a consensus rating of “Hold” and a consensus price target of $22.50.
In related news, Director John A. Mulder sold 10,000 shares of Gentex stock in a transaction dated Thursday, March 30th. The shares were sold at an average price of $21.28, for a total transaction of $212,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Steven R. Downing sold 10,176 shares of Gentex stock in a transaction dated Tuesday, January 31st. The stock was sold at an average price of $20.75, for a total transaction of $211,152.00. Following the transaction, the chief financial officer now directly owns 46,125 shares of the company’s stock, valued at $957,093.75. The disclosure for this sale can be found here. Insiders sold a total of 36,720 shares of company stock valued at $770,082 over the last three months. Corporate insiders own 2.90% of the company’s stock.
Gentex 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 business segment involves designing, developing, manufacturing and marketing interior and exterior automatic-dimming automotive rearview mirrors that utilize electrochromic technology to dim in proportion to the amount of headlight glare from trailing vehicle headlamps.
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