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

MFA Wealth Advisors LLC acquired a new stake in Gentex Corporation (NASDAQ:GNTX - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 19,536 shares of the auto parts company's stock, valued at approximately $455,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in GNTX. Midwest Capital Advisors LLC acquired a new position in Gentex in the fourth quarter valued at $26,000. TD Private Client Wealth LLC lifted its stake in shares of Gentex by 138.8% during the fourth quarter. TD Private Client Wealth LLC now owns 1,139 shares of the auto parts company's stock worth $33,000 after purchasing an additional 662 shares in the last quarter. Harbor Investment Advisory LLC lifted its stake in shares of 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. UMB Bank n.a. lifted its stake in shares of 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. Finally, NBC Securities Inc. lifted its stake in shares of Gentex by 268,600.0% during the first quarter. NBC Securities Inc. now owns 2,687 shares of the auto parts company's stock worth $62,000 after purchasing an additional 2,686 shares in the last quarter. Hedge funds and other institutional investors own 86.76% of the company's stock.

Wall Street Analyst Weigh In

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

Insider Activity at Gentex

In other 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 transaction, the director now directly owns 5,939 shares of the company's stock, valued at approximately $135,824.93. This represents a 38.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.45% of the stock is owned by corporate insiders.

Gentex Stock Performance

Shares of NASDAQ GNTX traded down $0.14 during midday trading on Friday, reaching $21.25. 3,826,076 shares of the company's stock were exchanged, compared to its average volume of 1,842,100. Gentex Corporation has a 52-week low of $20.28 and a 52-week high of $35.32. The stock has a market capitalization of $4.78 billion, a PE ratio of 12.43, a price-to-earnings-growth ratio of 1.05 and a beta of 0.81. The business's fifty day moving average price is $21.83 and its two-hundred day moving average price is $24.58.

Gentex (NASDAQ:GNTX - Get Free Report) last announced 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 during the quarter, compared to analyst estimates of $578.68 million. Gentex had a return on equity of 16.11% and a net margin of 17.01%. Gentex's quarterly revenue was down 2.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.47 earnings per share. Analysts predict that Gentex Corporation will post 2.04 earnings per share for the current fiscal year.

Gentex Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Wednesday, July 9th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend is Wednesday, July 9th. Gentex's dividend payout ratio is currently 28.07%.

About Gentex

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.