Mutual of America Capital Management LLC Cuts Position in Gentex Co. (NASDAQ:GNTX)

Mutual of America Capital Management LLC lowered its position in shares of Gentex Co. (NASDAQ:GNTX) by 4.8% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 132,364 shares of the auto parts company’s stock after selling 6,615 shares during the quarter. Mutual of America Capital Management LLC owned about 0.06% of Gentex worth $4,462,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GNTX. Neo Ivy Capital Management purchased a new position in Gentex in the fourth quarter valued at about $29,000. Quest Partners LLC purchased a new position in Gentex in the 2nd quarter worth approximately $31,000. Gladius Capital Management LP purchased a new stake in shares of Gentex during the second quarter valued at approximately $34,000. GAMMA Investing LLC lifted its position in shares of Gentex by 26.3% during the first quarter. GAMMA Investing LLC now owns 1,742 shares of the auto parts company’s stock worth $63,000 after purchasing an additional 363 shares in the last quarter. Finally, HHM Wealth Advisors LLC purchased a new position in shares of Gentex in the second quarter valued at $67,000. Institutional investors and hedge funds own 86.76% of the company’s stock.

Analyst Ratings Changes

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

Insider Transactions at Gentex

In other Gentex news, major shareholder Corp Gentex bought 3,152,500 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were purchased at an average price of $5.00 per share, with a total value of $15,762,500.00. Following the purchase, the insider now directly owns 6,463,808 shares of the company’s stock, valued at $32,319,040. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.41% of the company’s stock.

Gentex Price Performance

NASDAQ:GNTX opened at $29.75 on Friday. The firm has a market capitalization of $6.88 billion, a P/E ratio of 15.74, a P/E/G ratio of 0.96 and a beta of 0.92. The business has a 50 day simple moving average of $30.66 and a 200 day simple moving average of $33.33. Gentex Co. has a 12-month low of $27.86 and a 12-month high of $37.58.

Gentex (NASDAQ:GNTX) last released 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). The firm had revenue of $572.93 million for the quarter, compared to the consensus estimate of $623.28 million. Gentex had a return on equity of 17.78% and a net margin of 17.87%. Research analysts anticipate that Gentex Co. will post 1.96 EPS for the current fiscal year.

Gentex Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 9th will be issued a dividend of $0.12 per share. The ex-dividend date is Wednesday, October 9th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.61%. Gentex’s dividend payout ratio (DPR) is presently 25.40%.

Gentex Profile

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.