Burgundy Asset Management Ltd. Boosts Stock Position in Gentex Co. (NASDAQ:GNTX)

Burgundy Asset Management Ltd. grew its holdings in shares of Gentex Co. (NASDAQ:GNTX) by 3.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,343,880 shares of the auto parts company’s stock after buying an additional 126,416 shares during the period. Gentex accounts for about 1.5% of Burgundy Asset Management Ltd.’s holdings, making the stock its 26th largest holding. Burgundy Asset Management Ltd. owned about 1.88% of Gentex worth $146,432,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Neo Ivy Capital Management acquired a new stake in shares of Gentex during the 4th quarter worth about $29,000. Quest Partners LLC acquired a new stake in Gentex during the second quarter worth approximately $31,000. Gladius Capital Management LP purchased a new stake in shares of Gentex during the 2nd quarter worth approximately $34,000. GAMMA Investing LLC boosted its holdings in shares of Gentex by 26.3% in the 1st quarter. GAMMA Investing LLC now owns 1,742 shares of the auto parts company’s stock valued at $63,000 after buying an additional 363 shares in the last quarter. Finally, HHM Wealth Advisors LLC purchased a new position in shares of Gentex in the 2nd quarter valued at $67,000. 86.76% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Gentex news, major shareholder Corp Gentex acquired 3,152,500 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were acquired at an average cost of $5.00 per share, for a total transaction of $15,762,500.00. Following the transaction, the insider now directly owns 6,463,808 shares of the company’s stock, valued at $32,319,040. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.41% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. BNP Paribas downgraded shares of Gentex from an “outperform” rating to a “neutral” rating and set a $34.00 price target for the company. in a research report on Tuesday, July 30th. UBS Group assumed coverage on shares of Gentex in a research note on Wednesday, September 4th. They issued a “neutral” rating and a $34.00 price objective on the stock. B. Riley reduced their target price on shares of Gentex from $44.00 to $41.00 and set a “buy” rating for the company in a research note on Monday, July 29th. StockNews.com lowered shares of Gentex from a “buy” rating to a “hold” rating in a research note on Thursday, July 4th. Finally, Robert W. Baird cut their price target on shares of Gentex from $40.00 to $38.00 and set an “outperform” rating for the company in a report on Monday, July 29th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Gentex currently has an average rating of “Hold” and an average target price of $36.86.

Gentex Trading Down 0.7 %

GNTX stock opened at $29.29 on Thursday. The company’s 50-day moving average price is $30.83 and its 200 day moving average price is $33.43. Gentex Co. has a 52 week low of $27.86 and a 52 week high of $37.58. The company has a market cap of $6.77 billion, a P/E ratio of 15.50, a P/E/G ratio of 0.96 and a beta of 0.92.

Gentex (NASDAQ:GNTX) last announced its quarterly earnings results on Friday, July 26th. The auto parts company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.15). Gentex had a return on equity of 17.78% and a net margin of 17.87%. The firm had revenue of $572.93 million for the quarter, compared to analysts’ expectations of $623.28 million. On average, equities research analysts expect that Gentex Co. will post 1.96 earnings per share for the current year.

Gentex Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 9th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date is Wednesday, October 9th. Gentex’s dividend payout ratio is currently 25.40%.

About Gentex

Gentex Corporation designs, develops, manufactures, markets, and supplies digital vision, connected car, dimmable glass, and fire protection products in the United States, Germany, Japan, Mexico, Republic of Korea, and internationally. It operates through Automotive Products and Other segments. The company offers 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, automotive suppliers, and various aftermarket and accessory customers.