Gentex Corporation (NASDAQ:GNTX) Announces $0.12 Quarterly Dividend

Key Points

• Gentex declared a quarterly dividend of $0.12 per share, payable October 21 to shareholders of record October 7, representing a $0.48 annualized dividend and approximately a 2.1% yield.
• The dividend appears well covered, with a current payout ratio of 25.5%; analysts expect a future payout ratio of about 22.1% based on projected earnings.
• Gentex’s latest quarterly earnings beat expectations, with EPS of $0.58 versus the $0.50 consensus, although revenue declined 1% year over year. Institutional investors own approximately 86.76% of the company.

Gentex Corporation (NASDAQ:GNTX - Get Free Report) declared a quarterly dividend on Monday, August 31st. Stockholders of record on Wednesday, October 7th will be paid a dividend of 0.12 per share by the auto parts company on Wednesday, October 21st. This represents a c) dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Wednesday, October 7th.

Gentex has a dividend payout ratio of 25.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Gentex to earn $2.17 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 22.1%.

Gentex Price Performance

Shares of Gentex stock traded down $0.30 during trading on Monday, hitting $22.37. 2,967,204 shares of the company's stock traded hands, compared to its average volume of 2,370,549. Gentex has a 1 year low of $20.48 and a 1 year high of $29.38. The business has a 50-day simple moving average of $24.04 and a 200-day simple moving average of $23.47. The stock has a market capitalization of $4.76 billion, a P/E ratio of 11.84 and a beta of 0.79.

Gentex (NASDAQ:GNTX - Get Free Report) last issued its earnings results on Friday, July 24th. The auto parts company reported $0.58 earnings per share for the quarter, topping analysts' consensus estimates of $0.50 by $0.08. The business had revenue of $651.30 million during the quarter, compared to analyst estimates of $669.65 million. Gentex had a return on equity of 16.78% and a net margin of 15.50%.Gentex's revenue was down 1.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.43 EPS. On average, equities analysts predict that Gentex will post 2.04 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Gentex

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Thompson Siegel & Walmsley LLC boosted its position in shares of Gentex by 57.1% during the 4th quarter. Thompson Siegel & Walmsley LLC now owns 377,484 shares of the auto parts company's stock valued at $8,784,000 after acquiring an additional 137,245 shares during the last quarter. Pacer Advisors Inc. increased its position in Gentex by 2,636.4% in the fourth quarter. Pacer Advisors Inc. now owns 799,243 shares of the auto parts company's stock worth $18,598,000 after purchasing an additional 770,035 shares during the last quarter. Hillsdale Investment Management Inc. raised its stake in Gentex by 25,026.7% during the first quarter. Hillsdale Investment Management Inc. now owns 188,450 shares of the auto parts company's stock valued at $4,118,000 after purchasing an additional 187,700 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in Gentex by 3,905.8% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 700,693 shares of the auto parts company's stock valued at $16,305,000 after purchasing an additional 683,201 shares during the last quarter. Finally, Assenagon Asset Management S.A. purchased a new position in shares of Gentex in the 2nd quarter worth $3,411,000. 86.76% of the stock is owned by hedge funds and other institutional investors.

Gentex Company Profile

Gentex Corporation NASDAQ: GNTX is a global technology company specializing in the design and manufacture of automotive and aerospace products. The company's primary business centers on automatic-dimming rearview mirrors, advanced driver-assistance systems (ADAS), and camera-based driver monitoring technologies. In the automotive sector, Gentex supplies exterior and interior mirrors with integrated electronics, connectivity features, and safety capabilities to many of the world's leading original equipment manufacturers (OEMs).

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