Invenomic Capital Management LP Boosts Stock Position in Gentex Corporation $GNTX

Key Points

• Invenomic Capital Management LP increased its stake in Gentex Corporation by 93.1%, now owning 244,966 shares valued at approximately $5.71 million.
• Gentex reported a quarterly earnings per share (EPS) of $0.47, surpassing the consensus estimate of $0.39, with revenue growing by 14.8% year-over-year to $657.86 million.
• The company has declared a quarterly dividend of $0.12 per share, with a yield of 1.7%, and initiated a share repurchase program authorizing the buyback of 40 million shares.

Invenomic Capital Management LP boosted its position in Gentex Corporation (NASDAQ:GNTX - Free Report) by 93.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 244,966 shares of the auto parts company's stock after purchasing an additional 118,124 shares during the period. Invenomic Capital Management LP owned about 0.11% of Gentex worth $5,708,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Larson Financial Group LLC lifted its stake in Gentex by 1,471.0% in the first quarter. Larson Financial Group LLC now owns 1,084 shares of the auto parts company's stock valued at $25,000 after purchasing an additional 1,015 shares during the last quarter. Brooklyn Investment Group lifted its stake in Gentex by 305.7% in the first quarter. Brooklyn Investment Group now owns 1,217 shares of the auto parts company's stock valued at $28,000 after purchasing an additional 917 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised 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 valued at $28,000 after acquiring an additional 563 shares during the period. Harbor Investment Advisory LLC raised 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 valued at $38,000 after acquiring an additional 1,093 shares during the period. Finally, State of Wyoming bought a new stake in Gentex during the 1st quarter valued at $45,000. Hedge funds and other institutional investors own 86.76% of the company's stock.

Gentex Stock Performance

GNTX traded up $0.39 during trading on Thursday, reaching $28.41. The stock had a trading volume of 285,488 shares, compared to its average volume of 2,270,518. The stock has a market cap of $6.23 billion, a PE ratio of 16.04 and a beta of 0.85. Gentex Corporation has a one year low of $20.28 and a one year high of $31.72. The business has a 50-day moving average of $26.12 and a 200-day moving average of $23.78.

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

Gentex announced that its board has initiated a stock repurchase plan on Wednesday, July 16th that allows the company to buyback 40,000,000 shares. This buyback authorization allows the auto parts company to repurchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company's leadership believes its stock is undervalued.

Gentex Announces Dividend

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

Wall Street Analysts Forecast Growth

GNTX has been the topic of a number of analyst reports. 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 report on Monday, July 28th. The Goldman Sachs Group reaffirmed a "neutral" rating on shares of Gentex in a report on Friday, July 11th. Wall Street Zen raised shares of Gentex from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Robert W. Baird upped their price target on shares of Gentex from $26.00 to $30.00 and gave the stock a "neutral" rating in a report on Monday, July 28th. Finally, Zacks Research raised shares of Gentex from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Gentex currently has a consensus rating of "Hold" and an average target price of $28.63.

Gentex 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.