Sequoia Financial Advisors LLC Purchases 20,083 Shares of Gentex Corporation $GNTX

Key Points

• Sequoia Financial Advisors LLC increased its stake in Gentex Corporation by 39.5%, acquiring an additional 20,083 shares in the second quarter, bringing their total holdings to 70,950 shares valued at $1,560,000.
• Gentex Corporation reported a quarterly earnings per share (EPS) of $0.47, exceeding estimates and representing a 14.8% increase in revenue compared to the previous year.
• The company announced a stock repurchase plan to buy back up to 40 million shares, indicating management's belief that the stock is currently undervalued.

Sequoia Financial Advisors LLC grew its position in shares of Gentex Corporation (NASDAQ:GNTX - Free Report) by 39.5% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 70,950 shares of the auto parts company's stock after purchasing an additional 20,083 shares during the quarter. Sequoia Financial Advisors LLC's holdings in Gentex were worth $1,560,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in GNTX. Larson Financial Group LLC raised its holdings in Gentex by 1,471.0% during the 1st quarter. Larson Financial Group LLC now owns 1,084 shares of the auto parts company's stock worth $25,000 after purchasing an additional 1,015 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its holdings in Gentex by 85.4% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 1,222 shares of the auto parts company's stock worth $28,000 after purchasing an additional 563 shares during the last quarter. Brooklyn Investment Group raised its holdings in Gentex by 305.7% during the 1st quarter. Brooklyn Investment Group now owns 1,217 shares of the auto parts company's stock worth $28,000 after purchasing an additional 917 shares during the last quarter. State of Wyoming bought a new position in Gentex during the 1st quarter worth approximately $45,000. Finally, Steph & Co. bought a new position in Gentex during the 2nd quarter worth approximately $45,000. Institutional investors own 86.76% of the company's stock.

Gentex Trading Up 0.6%

NASDAQ GNTX opened at $26.19 on Friday. The company has a fifty day simple moving average of $27.73 and a 200 day simple moving average of $24.37. Gentex Corporation has a 12-month low of $20.28 and a 12-month high of $31.48. The company has a market cap of $5.75 billion, a P/E ratio of 14.80 and a beta of 0.84.

Gentex (NASDAQ:GNTX - Get Free Report) last posted its quarterly earnings results on Friday, July 25th. The auto parts company reported $0.47 earnings per share (EPS) 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 business had revenue of $657.86 million during the quarter, compared to the consensus estimate of $591.94 million. During the same quarter last year, the firm posted $0.37 EPS. Gentex's revenue was up 14.8% compared to the same quarter last year. Gentex has set its FY 2025 guidance at EPS. Sell-side analysts predict that Gentex Corporation will post 2.04 EPS for the current year.

Gentex announced that its board has initiated a stock 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 reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company's management believes its stock is undervalued.

Gentex Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Wednesday, October 8th will be given 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 1.8%. Gentex's dividend payout ratio (DPR) is presently 27.12%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on GNTX shares. B. Riley raised their price target on shares of Gentex from $28.00 to $32.00 and gave the stock a "buy" rating in a report on Monday, July 28th. The Goldman Sachs Group set a $32.00 price objective on shares of Gentex in a research note on Monday, September 29th. Wall Street Zen upgraded shares of Gentex from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Industrial Alliance Securities set a $25.00 price objective on shares of Gentex in a research note on Friday, July 11th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Gentex in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $29.14.

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.

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