72,700 Shares in Gentex Corporation $GNTX Purchased by OMERS ADMINISTRATION Corp

Key Points

• OMERS ADMINISTRATION Corp has acquired a new position in Gentex Corporation by purchasing 72,700 shares worth approximately $1,694,000.
• Several hedge funds significantly increased their stakes in Gentex, with notable increases from Fuller & Thaler Asset Management and American Century Companies, raising their holdings by over 400% and 148% respectively.
• Gentex reported a 14.8% year-over-year revenue increase in their last earnings report, posting $0.47 earnings per share, exceeding expectations.

OMERS ADMINISTRATION Corp bought a new position in shares of Gentex Corporation (NASDAQ:GNTX - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 72,700 shares of the auto parts company's stock, valued at approximately $1,694,000.

A number of other hedge funds have also modified their holdings of GNTX. Fuller & Thaler Asset Management Inc. grew its position in shares of Gentex by 487.7% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 3,447,651 shares of the auto parts company's stock worth $80,330,000 after acquiring an additional 2,860,969 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Gentex by 148.5% during the first quarter. American Century Companies Inc. now owns 4,119,232 shares of the auto parts company's stock worth $95,978,000 after purchasing an additional 2,461,835 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Gentex by 46.2% during the first quarter. JPMorgan Chase & Co. now owns 7,673,701 shares of the auto parts company's stock worth $178,797,000 after purchasing an additional 2,424,471 shares during the period. Burgundy Asset Management Ltd. lifted its holdings in shares of Gentex by 40.1% during the first quarter. Burgundy Asset Management Ltd. now owns 7,728,209 shares of the auto parts company's stock worth $180,067,000 after purchasing an additional 2,211,392 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in shares of Gentex by 4.1% during the first quarter. Vanguard Group Inc. now owns 22,581,938 shares of the auto parts company's stock worth $526,159,000 after purchasing an additional 886,785 shares during the period. 86.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. The Goldman Sachs Group reaffirmed a "neutral" rating on shares of Gentex in a report on Friday, July 11th. Robert W. Baird increased their price target on Gentex from $26.00 to $30.00 and gave the stock a "neutral" rating in a report on Monday, July 28th. Zacks Research raised Gentex from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 20th. Wall Street Zen raised Gentex from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Finally, Industrial Alliance Securities set a $25.00 target price on Gentex in a report on Friday, July 11th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Gentex currently has a consensus rating of "Hold" and an average price target of $28.63.

Gentex Trading Up 1.2%

Shares of NASDAQ:GNTX traded up $0.32 during midday trading on Thursday, hitting $27.99. 765,466 shares of the stock were exchanged, compared to its average volume of 2,283,285. The stock has a market cap of $6.14 billion, a P/E ratio of 15.79 and a beta of 0.85. Gentex Corporation has a twelve month low of $20.28 and a twelve month high of $31.72. The company has a 50 day moving average price of $25.53 and a 200-day moving average price of $23.65.

Gentex (NASDAQ:GNTX - Get Free Report) last released its quarterly earnings results on Friday, July 25th. The auto parts company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.08. The business had revenue of $657.86 million during the quarter, compared to the consensus estimate of $591.94 million. Gentex had a return on equity of 16.86% and a net margin of 16.82%.The business's revenue was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.37 EPS. Gentex has set its FY 2025 guidance at EPS. On average, equities research analysts expect that Gentex Corporation will post 2.04 earnings per share for the current year.

Gentex Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Wednesday, October 8th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Wednesday, October 8th. Gentex's payout ratio is 27.12%.

Gentex announced that its board has approved a share repurchase program on Wednesday, July 16th that authorizes the company to buyback 40,000,000 shares. This buyback authorization authorizes the auto parts company to buy shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company's management believes its stock is undervalued.

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.