Kingstone Capital Partners Texas LLC Makes New $3.75 Million Investment in Gentex Corporation $GNTX

Key Points

• Kingstone Capital Partners Texas LLC acquired a new position in Gentex Corporation valued at approximately $3.75 million, purchasing over 170,000 shares, representing about 0.08% of the company.
• Institutional ownership in Gentex is strong, with 86.76% of shares held by hedge funds and institutional investors, including significant increases from firms like Fuller & Thaler Asset Management and American Century Companies.
• Gentex's recent quarterly report showed an EPS of $0.47, surpassing expectations, and the company also announced a quarterly dividend of $0.12, indicating a solid financial position.

Kingstone Capital Partners Texas LLC bought a new position in shares of Gentex Corporation (NASDAQ:GNTX - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 170,664 shares of the auto parts company's stock, valued at approximately $3,753,000. Kingstone Capital Partners Texas LLC owned approximately 0.08% of Gentex as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Larson Financial Group LLC raised its position in shares of 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 buying an additional 1,015 shares during the last quarter. Brooklyn Investment Group increased its position in shares of Gentex by 305.7% in the first quarter. Brooklyn Investment Group now owns 1,217 shares of the auto parts company's stock worth $28,000 after acquiring an additional 917 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its stake in shares of Gentex by 85.4% in 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 lifted its holdings in shares of 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 in the last quarter. Finally, State of Wyoming purchased a new stake in Gentex during the 1st quarter worth $45,000. Institutional investors and hedge funds own 86.76% of the company's stock.

Gentex Stock Down 1.0%

NASDAQ GNTX traded down $0.29 during trading on Monday, hitting $28.39. The company's stock had a trading volume of 1,490,379 shares, compared to its average volume of 1,955,334. Gentex Corporation has a 52 week low of $20.28 and a 52 week high of $31.72. The firm has a market cap of $6.23 billion, a P/E ratio of 16.04 and a beta of 0.85. The firm has a 50 day moving average price of $27.01 and a 200 day moving average price of $24.00.

Gentex (NASDAQ:GNTX - Get Free Report) last posted its quarterly earnings data 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. Gentex had a net margin of 16.82% and a return on equity of 16.86%. The firm had revenue of $657.86 million during the quarter, compared to analysts' expectations of $591.94 million. During the same quarter last year, the company posted $0.37 EPS. The company's quarterly revenue was up 14.8% compared to the same quarter last year. Gentex has set its FY 2025 guidance at EPS. On average, equities analysts expect that Gentex Corporation will post 2.04 earnings per share for the current year.

Gentex declared that its Board of Directors has initiated a share repurchase plan 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 plans are generally an indication that the company's board of directors believes its shares are undervalued.

Gentex Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Wednesday, October 8th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, October 8th. This represents a $0.48 annualized dividend and a yield of 1.7%. Gentex's payout ratio is currently 27.12%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on GNTX shares. Industrial Alliance Securities set a $25.00 target price on Gentex in a research report on Friday, July 11th. Wall Street Zen upgraded Gentex from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. 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 research report on Monday, July 28th. The Goldman Sachs Group reaffirmed a "neutral" rating on shares of Gentex in a report on Friday, July 11th. Finally, B. Riley raised their price objective on Gentex from $28.00 to $32.00 and gave the stock a "buy" rating in a research note on Monday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently 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.