Retirement Systems of Alabama Has $14.15 Million Position in Gentex Corporation (NASDAQ:GNTX)

Retirement Systems of Alabama lifted its stake in shares of Gentex Corporation (NASDAQ:GNTX - Free Report) by 2.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 607,253 shares of the auto parts company's stock after buying an additional 15,012 shares during the quarter. Retirement Systems of Alabama owned about 0.27% of Gentex worth $14,149,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Oppenheimer Asset Management Inc. lifted its position in Gentex by 6.5% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 7,445 shares of the auto parts company's stock valued at $214,000 after acquiring an additional 457 shares in the last quarter. ProShare Advisors LLC grew its holdings in Gentex by 6.0% during the fourth 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. raised its position in Gentex by 0.5% in the 4th quarter. Scotia Capital Inc. now owns 126,325 shares of the auto parts company's stock valued at $3,629,000 after buying an additional 608 shares during the last quarter. Smith Moore & CO. lifted its stake in Gentex by 3.5% during the 4th quarter. Smith Moore & CO. now owns 18,666 shares of the auto parts company's stock valued at $536,000 after acquiring an additional 632 shares in the last quarter. Finally, Treasurer of the State of North Carolina lifted its stake in Gentex by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 101,711 shares of the auto parts company's stock valued at $2,922,000 after acquiring an additional 640 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 company's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $22.87, for a total transaction of $86,082.68. Following the sale, the director now directly owns 5,939 shares in the company, valued at $135,824.93. This represents a 38.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.45% of the company's stock.

Gentex Stock Performance

Shares of Gentex stock opened at $21.25 on Monday. Gentex Corporation has a 52-week low of $20.28 and a 52-week high of $35.32. The stock's 50-day simple moving average is $21.83 and its 200 day simple moving average is $24.54. The stock has a market capitalization of $4.78 billion, a P/E ratio of 12.43, a P/E/G ratio of 1.05 and a beta of 0.82.

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 (EPS) for the quarter, meeting analysts' consensus estimates of $0.43. Gentex had a return on equity of 16.11% and a net margin of 17.01%. The business had revenue of $576.77 million for the quarter, compared to analysts' expectations of $578.68 million. During the same period in the previous year, the business posted $0.47 EPS. The firm's quarterly revenue was down 2.3% compared to the same quarter last year. Equities research analysts forecast that Gentex Corporation will post 2.04 EPS for the current fiscal year.

Gentex Dividend Announcement

The business also recently declared 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 2.26%. The ex-dividend date is Wednesday, July 9th. Gentex's dividend payout ratio is presently 28.07%.

Analyst Upgrades and Downgrades

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

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.

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