Kayne Anderson Rudnick Investment Management LLC Has $14.67 Million Stock Holdings in Gentex Corporation $GNTX

Key Points

• Kayne Anderson Rudnick Investment Management LLC increased its holdings in Gentex Corporation by 12.8%, now owning approximately 0.28% of the company's stock worth $14.7 million.
• Multiple hedge funds have significantly raised their stakes in Gentex, with Fuller & Thaler Asset Management increasing its position by 487.7% during the first quarter.
• Gentex announced a quarterly dividend of $0.12, reflecting a yield of 1.7%, and has set a stock buyback plan to reacquire 40 million shares, indicating confidence in its stock value.

Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of Gentex Corporation (NASDAQ:GNTX - Free Report) by 12.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 629,425 shares of the auto parts company's stock after buying an additional 71,267 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned approximately 0.28% of Gentex worth $14,666,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Larson Financial Group LLC raised its holdings in Gentex by 1,471.0% during the first quarter. Larson Financial Group LLC now owns 1,084 shares of the auto parts company's stock worth $25,000 after purchasing an additional 1,015 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its holdings in Gentex by 85.4% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 1,222 shares of the auto parts company's stock worth $28,000 after purchasing an additional 563 shares in the last quarter. Brooklyn Investment Group raised its holdings in Gentex by 305.7% during the first quarter. Brooklyn Investment Group now owns 1,217 shares of the auto parts company's stock worth $28,000 after purchasing an additional 917 shares in the last quarter. Harbor Investment Advisory LLC raised its holdings in Gentex by 208.2% during the first quarter. Harbor Investment Advisory LLC now owns 1,618 shares of the auto parts company's stock worth $38,000 after purchasing an additional 1,093 shares in the last quarter. Finally, UMB Bank n.a. raised its holdings in Gentex by 103.3% during the first quarter. UMB Bank n.a. now owns 2,124 shares of the auto parts company's stock worth $49,000 after purchasing an additional 1,079 shares in the last quarter. Institutional investors own 86.76% of the company's stock.

Gentex Trading Down 0.5%

NASDAQ:GNTX traded down $0.14 during trading hours on Friday, hitting $28.01. 1,973,745 shares of the stock traded hands, compared to its average volume of 2,303,559. The firm has a 50 day moving average price of $25.16 and a 200 day moving average price of $23.58. Gentex Corporation has a fifty-two week low of $20.28 and a fifty-two week high of $31.72. The firm has a market cap of $6.15 billion, a price-to-earnings ratio of 15.82 and a beta of 0.82.

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

Gentex declared that its board has authorized a share buyback program on Wednesday, July 16th that authorizes the company to repurchase 40,000,000 outstanding shares. This repurchase authorization authorizes the auto parts company to purchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company's management believes its stock is undervalued.

Gentex Announces Dividend

The business 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 $0.12 dividend. The ex-dividend date of this dividend is Wednesday, October 8th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.7%. Gentex's dividend payout ratio is 27.12%.

Analyst Upgrades and Downgrades

GNTX has been the topic of several recent analyst reports. Wall Street Zen raised 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 objective on Gentex from $23.00 to $28.00 and gave the company a "neutral" rating in a research report on Monday, July 28th. Industrial Alliance Securities set a $25.00 price objective on Gentex in a research report on Friday, July 11th. Finally, B. Riley increased their price objective on Gentex from $28.00 to $32.00 and gave the company a "buy" rating in a research report on Monday, July 28th. One investment 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, the company currently has a consensus rating of "Hold" and a consensus price target 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.