26,479 Shares in Gentex Corporation (NASDAQ:GNTX) Purchased by MQS Management LLC

MQS Management LLC acquired a new stake in Gentex Corporation (NASDAQ:GNTX - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 26,479 shares of the auto parts company's stock, valued at approximately $617,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. State of Michigan Retirement System boosted its holdings in shares of Gentex by 1.1% during the 1st quarter. State of Michigan Retirement System now owns 54,440 shares of the auto parts company's stock worth $1,268,000 after buying an additional 600 shares in the last quarter. Louisiana State Employees Retirement System boosted its holdings in shares of Gentex by 1.0% during the 1st quarter. Louisiana State Employees Retirement System now owns 63,700 shares of the auto parts company's stock worth $1,484,000 after buying an additional 600 shares in the last quarter. ProShare Advisors LLC boosted its holdings in shares of Gentex by 6.0% during the 4th quarter. ProShare Advisors LLC now owns 10,641 shares of the auto parts company's stock worth $306,000 after buying an additional 605 shares in the last quarter. Scotia Capital Inc. lifted its holdings in shares of Gentex by 0.5% in the 4th quarter. Scotia Capital Inc. now owns 126,325 shares of the auto parts company's stock worth $3,629,000 after purchasing an additional 608 shares in the last quarter. Finally, Smith Moore & CO. lifted its holdings in shares of Gentex by 3.5% in the 4th quarter. Smith Moore & CO. now owns 18,666 shares of the auto parts company's stock worth $536,000 after purchasing an additional 632 shares in the last quarter. Institutional investors and hedge funds own 86.76% of the company's stock.

Insider Activity

In other news, Director Joseph B. Anderson, Jr. sold 3,764 shares of the firm's stock in a transaction 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 directly owned 5,939 shares of the company's stock, valued at $135,824.93. This trade represents a 38.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.45% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on GNTX. The Goldman Sachs Group reiterated a "neutral" rating on shares of Gentex in a report on Friday, July 11th. Baird R W cut Gentex from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 15th. Industrial Alliance Securities set a $25.00 target price on Gentex in a report on Friday, July 11th. UBS Group reiterated a "neutral" rating and issued a $23.00 target price (up from $21.00) on shares of Gentex in a report on Monday. Finally, Robert W. Baird increased their target price on Gentex from $25.00 to $26.00 and gave the stock a "neutral" rating in a report on Friday, July 11th. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $28.28.

Gentex Stock Up 2.4%

NASDAQ GNTX traded up $0.55 on Wednesday, reaching $23.21. The company had a trading volume of 3,852,268 shares, compared to its average volume of 1,913,652. The stock has a market capitalization of $5.22 billion, a P/E ratio of 13.57, a P/E/G ratio of 1.14 and a beta of 0.81. The company's fifty day moving average is $22.18 and its 200 day moving average is $23.72. Gentex Corporation has a 52-week low of $20.28 and a 52-week high of $35.23.

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

Gentex Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders 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 dividend yield of 2.07%. The ex-dividend date is Wednesday, July 9th. Gentex's dividend payout ratio is presently 28.07%.

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.