Kayne Anderson Rudnick Investment Management LLC Has $19.62 Million Stock Holdings in Gentex Co. (NASDAQ:GNTX)

Kayne Anderson Rudnick Investment Management LLC lowered its holdings in shares of Gentex Co. (NASDAQ:GNTX) by 6.0% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 581,887 shares of the auto parts company’s stock after selling 37,230 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned about 0.25% of Gentex worth $19,615,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Gentex by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 22,280,716 shares of the auto parts company’s stock worth $727,688,000 after buying an additional 163,373 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Gentex by 27.9% during the 4th quarter. Wellington Management Group LLP now owns 8,728,378 shares of the auto parts company’s stock worth $285,069,000 after buying an additional 1,905,356 shares in the last quarter. Boston Partners raised its holdings in shares of Gentex by 4.2% during the 1st quarter. Boston Partners now owns 5,706,411 shares of the auto parts company’s stock worth $206,095,000 after buying an additional 230,873 shares in the last quarter. TD Asset Management Inc raised its holdings in shares of Gentex by 41.2% during the 1st quarter. TD Asset Management Inc now owns 4,677,655 shares of the auto parts company’s stock worth $168,957,000 after buying an additional 1,363,898 shares in the last quarter. Finally, Burgundy Asset Management Ltd. raised its holdings in shares of Gentex by 3.0% during the 2nd quarter. Burgundy Asset Management Ltd. now owns 4,343,880 shares of the auto parts company’s stock worth $146,432,000 after buying an additional 126,416 shares in the last quarter. Institutional investors and hedge funds own 86.76% of the company’s stock.

Insider Activity at Gentex

In other Gentex news, major shareholder Corp Gentex bought 3,152,500 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were bought at an average price 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 in the company, valued at $32,319,040. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.41% of the stock is owned by corporate insiders.

Gentex Trading Down 0.2 %

NASDAQ GNTX opened at $29.75 on Friday. The business’s 50-day moving average price is $30.66 and its two-hundred day moving average price is $33.33. Gentex Co. has a 12 month low of $27.86 and a 12 month high of $37.58. The firm has a market capitalization of $6.88 billion, a PE ratio of 15.74, a price-to-earnings-growth ratio of 0.96 and a beta of 0.92.

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 analysts’ consensus estimates of $0.52 by ($0.15). Gentex had a net margin of 17.87% and a return on equity of 17.78%. The company had revenue of $572.93 million during the quarter, compared to the consensus estimate of $623.28 million. As a group, analysts forecast that Gentex Co. will post 1.96 earnings per share for the current fiscal year.

Gentex Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 9th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $0.48 annualized dividend and a dividend yield of 1.61%. Gentex’s payout ratio is 25.40%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. BNP Paribas cut Gentex from an “outperform” rating to a “neutral” rating and set a $34.00 price target for the company. in a report on Tuesday, July 30th. JPMorgan Chase & Co. lowered their target price on Gentex from $36.00 to $35.00 and set a “neutral” rating for the company in a report on Monday, July 22nd. StockNews.com cut Gentex from a “buy” rating to a “hold” rating in a report on Thursday, July 4th. B. Riley lowered their target price on Gentex from $44.00 to $41.00 and set a “buy” rating for the company in a report on Monday, July 29th. Finally, Robert W. Baird lowered their target price on Gentex from $40.00 to $38.00 and set an “outperform” rating for the company in a report on Monday, July 29th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $36.86.

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.