MFA Wealth Advisors LLC Invests $455,000 in Gentex Corporation (NASDAQ:GNTX)

MFA Wealth Advisors LLC bought a new position in Gentex Corporation (NASDAQ:GNTX - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 19,536 shares of the auto parts company's stock, valued at approximately $455,000.

Several other large investors also recently made changes to their positions in GNTX. Cardinal Capital Management grew its stake in shares of Gentex by 7.8% in the 1st quarter. Cardinal Capital Management now owns 70,837 shares of the auto parts company's stock worth $1,651,000 after purchasing an additional 5,107 shares during the last quarter. Janney Montgomery Scott LLC boosted its holdings in Gentex by 19.9% during the first quarter. Janney Montgomery Scott LLC now owns 1,061,692 shares of the auto parts company's stock worth $24,737,000 after buying an additional 175,906 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Gentex by 42.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 50,056 shares of the auto parts company's stock worth $1,166,000 after buying an additional 15,025 shares during the last quarter. Alpha Omega Wealth Management LLC increased its holdings in shares of Gentex by 11.2% in the first quarter. Alpha Omega Wealth Management LLC now owns 188,524 shares of the auto parts company's stock valued at $4,393,000 after buying an additional 18,967 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Gentex by 28.6% in the first quarter. Assenagon Asset Management S.A. now owns 98,081 shares of the auto parts company's stock valued at $2,285,000 after buying an additional 21,802 shares in the last quarter. Institutional investors and hedge funds own 86.76% of the company's stock.

Gentex Stock Down 1.2%

Shares of GNTX traded down $0.27 during midday trading on Friday, reaching $21.13. 1,190,854 shares of the stock were exchanged, compared to its average volume of 1,841,834. The company has a market cap of $4.75 billion, a price-to-earnings ratio of 12.37, a P/E/G ratio of 1.06 and a beta of 0.81. Gentex Corporation has a 12-month low of $20.28 and a 12-month high of $35.32. The firm has a 50 day simple moving average of $21.83 and a 200-day simple moving average of $24.68.

Gentex (NASDAQ:GNTX - Get Free Report) last issued its quarterly earnings data on Friday, April 25th. The auto parts company reported $0.43 earnings per share for the quarter, meeting the consensus estimate of $0.43. The firm had revenue of $576.77 million for the quarter, compared to analyst estimates of $578.68 million. Gentex had a net margin of 17.01% and a return on equity of 16.11%. The company's revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.47 earnings per share. Research analysts expect that Gentex Corporation will post 2.04 earnings per share for the current fiscal year.

Gentex Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Wednesday, July 9th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 2.27%. The ex-dividend date is Wednesday, July 9th. Gentex's payout ratio is 28.07%.

Wall Street Analyst Weigh In

GNTX has been the subject of several research analyst reports. Robert W. Baird restated a "neutral" rating and issued a $25.00 price target (down previously from $31.00) on shares of Gentex in a research report on Tuesday, April 15th. Guggenheim decreased their target price on Gentex from $30.00 to $24.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Baird R W lowered Gentex from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 15th. The Goldman Sachs Group reduced their price objective on Gentex from $28.00 to $23.00 and set a "neutral" rating for the company in a research note on Thursday, April 10th. Finally, UBS Group lowered their target price on Gentex from $29.00 to $21.00 and set a "neutral" rating on the stock in a research note on Thursday, April 10th. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $28.31.

Insiders Place Their Bets

In other Gentex news, Director Joseph B. Anderson, Jr. sold 3,764 shares of the company's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $22.87, for a total transaction of $86,082.68. Following the completion of the sale, the director now owns 5,939 shares of the company's stock, valued at $135,824.93. This represents a 38.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.45% of the company's stock.

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.