Bank of New York Mellon Corp Acquires Shares of 210,507 Gentherm Inc $THRM

Key Points

• Bank of New York Mellon acquired 210,507 Gentherm shares worth approximately $7.18 million, representing a 0.69% stake. Institutional investors collectively own 97.13% of the company.
• Gentherm reported quarterly EPS of $0.75, beating estimates by $0.19, while revenue rose 11% year over year to $404.94 million. Analysts give the stock a “Moderate Buy” consensus rating with an average price target of $45.80.
• The company authorized a $400 million share-repurchase program, allowing it to buy back up to 36.2% of outstanding shares; meanwhile, an executive sold 4,700 shares for approximately $203,000.

Bank of New York Mellon Corp bought a new stake in Gentherm Inc (NASDAQ:THRM - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 210,507 shares of the auto parts company's stock, valued at approximately $7,180,000. Bank of New York Mellon Corp owned 0.69% of Gentherm at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Caxton Associates LLP increased its position in shares of Gentherm by 4.7% during the third quarter. Caxton Associates LLP now owns 8,294 shares of the auto parts company's stock worth $282,000 after acquiring an additional 372 shares during the period. Gamco Investors INC. ET AL boosted its stake in Gentherm by 6.2% during the 4th quarter. Gamco Investors INC. ET AL now owns 8,500 shares of the auto parts company's stock worth $309,000 after purchasing an additional 500 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Gentherm by 160.3% during the fourth quarter. Farther Finance Advisors LLC now owns 812 shares of the auto parts company's stock worth $30,000 after buying an additional 500 shares in the last quarter. Palouse Capital Management Inc. raised its position in shares of Gentherm by 14.2% in the second quarter. Palouse Capital Management Inc. now owns 4,822 shares of the auto parts company's stock valued at $164,000 after buying an additional 600 shares during the last quarter. Finally, Federation des caisses Desjardins du Quebec raised its position in shares of Gentherm by 1.5% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 40,940 shares of the auto parts company's stock valued at $1,489,000 after buying an additional 600 shares during the last quarter. Hedge funds and other institutional investors own 97.13% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Zacks Research upgraded shares of Gentherm from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 27th. Roth Capital reissued a "buy" rating and issued a $50.00 target price on shares of Gentherm in a research note on Wednesday, July 29th. Weiss Ratings upgraded Gentherm from a "hold (c-)" rating to a "hold (c)" rating in a report on Wednesday, July 29th. Wall Street Zen lowered Gentherm from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 1st. Finally, JPMorgan Chase & Co. increased their price target on Gentherm from $41.00 to $48.00 and gave the company a "neutral" rating in a report on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $45.80.

Insiders Place Their Bets

In related news, SVP Wayne Kauffman, III sold 4,700 shares of the stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $43.21, for a total value of $203,087.00. Following the completion of the transaction, the senior vice president directly owned 27,421 shares in the company, valued at approximately $1,184,861.41. This represents a 14.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.10% of the company's stock.

Gentherm Price Performance

Shares of THRM stock opened at $40.02 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.06 and a quick ratio of 1.49. The firm's 50-day moving average is $39.07 and its two-hundred day moving average is $34.11. Gentherm Inc has a 12 month low of $27.00 and a 12 month high of $48.35. The company has a market capitalization of $1.23 billion, a PE ratio of 46.00, a price-to-earnings-growth ratio of 0.90 and a beta of 1.34.

Gentherm (NASDAQ:THRM - Get Free Report) last posted its quarterly earnings results on Thursday, July 23rd. The auto parts company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.19. The business had revenue of $404.94 million during the quarter, compared to analysts' expectations of $382.90 million. Gentherm had a net margin of 1.68% and a return on equity of 12.06%. The business's revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.54 EPS. Analysts predict that Gentherm Inc will post 2.92 earnings per share for the current year.

Gentherm announced that its Board of Directors has initiated a stock repurchase plan on Thursday, July 23rd that authorizes the company to repurchase $400.00 million in outstanding shares. This repurchase authorization authorizes the auto parts company to purchase up to 36.2% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's management believes its shares are undervalued.

Gentherm Company Profile

Gentherm Incorporated NASDAQ: THRM is a global developer and supplier of advanced thermal management technologies for automotive, specialty vehicle, medical, consumer and industrial markets. The company's core focus lies in delivering integrated heating and cooling systems designed to enhance energy efficiency, comfort and safety across a wide range of applications. Gentherm's product portfolio includes seat thermal systems, heated and ventilated seating surfaces, steering wheel heaters, battery thermal management solutions, and climate systems for electric vehicles.

In the automotive sector, Gentherm partners with leading original equipment manufacturers to engineer and manufacture high-performance thermal solutions that meet stringent industry demands for reduced weight, lower energy consumption and improved passenger comfort.

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