American Century Companies Inc. Raises Stock Position in Gentex Corporation $GNTX

Key Points

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American Century Companies Inc. boosted its holdings in Gentex Corporation (NASDAQ:GNTX - Free Report) by 148.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,119,232 shares of the auto parts company's stock after acquiring an additional 2,461,835 shares during the quarter. American Century Companies Inc. owned 1.83% of Gentex worth $95,978,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its position in Gentex by 4.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,622,237 shares of the auto parts company's stock valued at $37,798,000 after acquiring an additional 62,137 shares in the last quarter. Principal Financial Group Inc. lifted its position in Gentex by 0.4% in the 1st quarter. Principal Financial Group Inc. now owns 523,489 shares of the auto parts company's stock valued at $12,197,000 after acquiring an additional 1,923 shares in the last quarter. Marshall Wace LLP bought a new position in Gentex in the 4th quarter valued at approximately $10,868,000. Asset Management One Co. Ltd. raised its stake in Gentex by 5.9% during the 1st quarter. Asset Management One Co. Ltd. now owns 219,454 shares of the auto parts company's stock valued at $5,113,000 after buying an additional 12,168 shares during the last quarter. Finally, Praxis Investment Management Inc. purchased a new stake in Gentex during the 1st quarter valued at $359,000. 86.76% of the stock is owned by institutional investors.

Gentex Price Performance

Shares of NASDAQ:GNTX traded up $0.7460 during midday trading on Friday, hitting $28.1560. The company had a trading volume of 940,857 shares, compared to its average volume of 2,303,859. The company has a market cap of $6.18 billion, a price-to-earnings ratio of 15.91 and a beta of 0.82. Gentex Corporation has a 12-month low of $20.28 and a 12-month high of $31.75. The company has a fifty day moving average of $24.36 and a two-hundred day moving average of $23.45.

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

Gentex announced that its Board of Directors has initiated a share buyback program on Wednesday, July 16th that allows the company to repurchase 40,000,000 shares. This repurchase authorization allows the auto parts company to buy shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board believes its stock is undervalued.

Gentex Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Wednesday, October 8th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.7%. Gentex's dividend payout ratio (DPR) is 27.12%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Industrial Alliance Securities set a $25.00 target price on shares of Gentex in a research note on Friday, July 11th. UBS Group boosted their target price on shares of Gentex from $23.00 to $28.00 and gave the company a "neutral" rating in a research note on Monday, July 28th. B. Riley boosted their target price on shares of Gentex from $28.00 to $32.00 and gave the company a "buy" rating in a research note on Monday, July 28th. The Goldman Sachs Group reiterated a "neutral" rating on shares of Gentex in a research note on Friday, July 11th. Finally, Wall Street Zen upgraded shares of Gentex from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $28.63.

Gentex Company 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.