Cambiar Investors LLC Reduces Stock Position in Gentex Corporation $GNTX

Key Points

• Cambiar Investors LLC reduced its stake in Gentex Corporation by 14.7%, selling 47,776 shares to hold 278,312 shares worth $6.48 million.
• Gentex reported a quarterly earnings per share (EPS) of $0.47, exceeding analysts' estimates of $0.39, with revenue reaching $657.86 million, a 14.8% increase year-over-year.
• The company has announced a share buyback program authorizing the repurchase of up to 40 million shares, indicating management's belief that the stock is undervalued.

Cambiar Investors LLC lessened its position in shares of Gentex Corporation (NASDAQ:GNTX - Free Report) by 14.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 278,312 shares of the auto parts company's stock after selling 47,776 shares during the period. Cambiar Investors LLC owned approximately 0.12% of Gentex worth $6,485,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Larson Financial Group LLC increased its holdings in Gentex by 1,471.0% during the 1st quarter. Larson Financial Group LLC now owns 1,084 shares of the auto parts company's stock worth $25,000 after acquiring an additional 1,015 shares during the period. Whittier Trust Co. of Nevada Inc. increased its holdings in Gentex by 85.4% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 1,222 shares of the auto parts company's stock worth $28,000 after acquiring an additional 563 shares during the period. Harbor Investment Advisory LLC increased its holdings in Gentex by 208.2% during the 1st quarter. Harbor Investment Advisory LLC now owns 1,618 shares of the auto parts company's stock worth $38,000 after acquiring an additional 1,093 shares during the period. UMB Bank n.a. increased its holdings in Gentex by 103.3% during the 1st quarter. UMB Bank n.a. now owns 2,124 shares of the auto parts company's stock worth $49,000 after acquiring an additional 1,079 shares during the period. Finally, NBC Securities Inc. increased its holdings in Gentex by 268,600.0% during the 1st quarter. NBC Securities Inc. now owns 2,687 shares of the auto parts company's stock worth $62,000 after acquiring an additional 2,686 shares during the period. Institutional investors own 86.76% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on GNTX. Wall Street Zen raised shares of Gentex from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. The Goldman Sachs Group reissued a "neutral" rating on shares of Gentex in a report on Friday, July 11th. UBS Group increased their price target on shares of Gentex from $23.00 to $28.00 and gave the stock a "neutral" rating in a report on Monday, July 28th. Guggenheim decreased their price target on shares of Gentex from $30.00 to $24.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Finally, B. Riley increased their price target on shares of Gentex from $28.00 to $32.00 and gave the stock a "buy" rating in a report on Monday, July 28th. Two investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $28.63.

Gentex Price Performance

GNTX traded down $0.32 during trading on Wednesday, hitting $27.37. 1,799,454 shares of the stock traded hands, compared to its average volume of 2,316,133. The firm has a market capitalization of $6.01 billion, a P/E ratio of 15.46 and a beta of 0.82. The firm has a 50-day moving average of $24.26 and a 200 day moving average of $23.44. Gentex Corporation has a 12-month low of $20.28 and a 12-month high of $31.75.

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

Gentex Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 23rd. Shareholders of record on Wednesday, July 9th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, July 9th. This represents a $0.48 annualized dividend and a yield of 1.8%. Gentex's dividend payout ratio is presently 27.12%.

Gentex announced that its Board of Directors has authorized a stock buyback plan on Wednesday, July 16th that permits the company to buyback 40,000,000 shares. This buyback authorization permits the auto parts company to buy shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company's leadership believes its stock is undervalued.

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.