Magnus Financial Group LLC Takes Position in Gentex Co. (NASDAQ:GNTX)
Magnus Financial Group LLC acquired a new stake in Gentex Co. (NASDAQ:GNTX) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 8,604 shares of the auto parts company’s stock, valued at approximately $212,000.
Several other large investors have also made changes to their positions in GNTX. Boston Partners purchased a new stake in shares of Gentex in the first quarter valued at $76,910,000. AJO LP grew its position in shares of Gentex by 211.8% in the first quarter. AJO LP now owns 826,995 shares of the auto parts company’s stock valued at $17,102,000 after purchasing an additional 561,747 shares during the period. Thoroughbred Financial Services LLC grew its position in shares of Gentex by 2,268.2% in the second quarter. Thoroughbred Financial Services LLC now owns 388,887 shares of the auto parts company’s stock valued at $38,889,000 after purchasing an additional 372,466 shares during the period. Geode Capital Management LLC grew its position in shares of Gentex by 8.3% in the fourth quarter. Geode Capital Management LLC now owns 3,950,871 shares of the auto parts company’s stock valued at $79,846,000 after purchasing an additional 303,378 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of Gentex by 4.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,119,321 shares of the auto parts company’s stock valued at $123,669,000 after purchasing an additional 283,696 shares during the period. 82.44% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have recently commented on GNTX. Zacks Investment Research raised Gentex from a “sell” rating to a “hold” rating and set a $28.00 price objective for the company in a research report on Tuesday, July 23rd. Longbow Research reaffirmed a “hold” rating on shares of Gentex in a research report on Sunday, July 7th. ValuEngine downgraded Gentex from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. B. Riley set a $29.00 target price on Gentex and gave the company a “buy” rating in a report on Friday, July 19th. Finally, BidaskClub upgraded Gentex from a “sell” rating to a “hold” rating in a report on Tuesday, July 30th. Eight equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $23.66.
Gentex stock traded up $0.33 during midday trading on Wednesday, reaching $26.81. The stock had a trading volume of 15,083 shares, compared to its average volume of 2,052,980. Gentex Co. has a twelve month low of $17.80 and a twelve month high of $27.94. The stock has a market capitalization of $6.82 billion, a PE ratio of 16.54, a price-to-earnings-growth ratio of 3.14 and a beta of 1.22. The stock’s 50-day simple moving average is $25.88 and its 200 day simple moving average is $22.81.
Gentex (NASDAQ:GNTX) last issued its earnings results on Friday, July 19th. The auto parts company reported $0.42 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.02. Gentex had a return on equity of 23.08% and a net margin of 23.28%. The firm had revenue of $468.71 million for the quarter, compared to analysts’ expectations of $462.65 million. During the same quarter last year, the firm earned $0.40 earnings per share. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. Analysts predict that Gentex Co. will post 1.68 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 24th. Shareholders of record on Wednesday, July 10th were paid a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date was Tuesday, July 9th. Gentex’s dividend payout ratio is presently 28.40%.
Gentex Company Profile
Gentex Corporation provides digital vision, connected car, dimmable glass, and fire protection products worldwide. It designs, develops, manufactures, and markets 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, tier one automotive mirror manufacturers, and various aftermarket and accessory customers.
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