Values First Advisors Inc. Buys 29,217 Shares of Gentex Corporation $GNTX

Key Points

• Values First Advisors Inc. increased its stake in Gentex Corporation by 56.3%, acquiring an additional 29,217 shares during the second quarter, bringing its total holdings to 81,090 shares valued at approximately $1.78 million.
• Gentex reported a quarterly earnings per share (EPS) of $0.47, exceeding analysts' expectations of $0.39, with revenue of $657.86 million for the quarter.
• The company recently announced a stock repurchase program allowing for the buyback of up to 40 million shares, signaling management's belief that its stock may be undervalued.

Values First Advisors Inc. grew its stake in Gentex Corporation (NASDAQ:GNTX - Free Report) by 56.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 81,090 shares of the auto parts company's stock after acquiring an additional 29,217 shares during the quarter. Values First Advisors Inc.'s holdings in Gentex were worth $1,783,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Gentex by 4.1% in the first quarter. Vanguard Group Inc. now owns 22,581,938 shares of the auto parts company's stock worth $526,159,000 after acquiring an additional 886,785 shares in the last quarter. Burgundy Asset Management Ltd. lifted its holdings in shares of Gentex by 40.1% during the first quarter. Burgundy Asset Management Ltd. now owns 7,728,209 shares of the auto parts company's stock valued at $180,067,000 after purchasing an additional 2,211,392 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Gentex by 46.2% during the first quarter. JPMorgan Chase & Co. now owns 7,673,701 shares of the auto parts company's stock valued at $178,797,000 after purchasing an additional 2,424,471 shares in the last quarter. Ariel Investments LLC lifted its holdings in shares of Gentex by 10.7% during the first quarter. Ariel Investments LLC now owns 7,082,055 shares of the auto parts company's stock valued at $165,012,000 after purchasing an additional 687,329 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Gentex by 3.6% during the first quarter. Dimensional Fund Advisors LP now owns 4,655,948 shares of the auto parts company's stock valued at $108,482,000 after purchasing an additional 160,432 shares in the last quarter. 86.76% of the stock is owned by institutional investors.

Gentex Stock Performance

Gentex stock opened at $26.19 on Friday. The stock has a fifty day moving average of $27.73 and a 200 day moving average of $24.37. The stock has a market cap of $5.75 billion, a PE ratio of 14.80 and a beta of 0.84. Gentex Corporation has a one year low of $20.28 and a one year high of $31.48.

Gentex (NASDAQ:GNTX - Get Free Report) last issued its quarterly earnings results on Friday, July 25th. The auto parts company reported $0.47 EPS for the quarter, topping analysts' consensus estimates of $0.39 by $0.08. The business had revenue of $657.86 million during the quarter, compared to analysts' expectations of $591.94 million. Gentex had a return on equity of 16.86% and a net margin of 16.82%.The business's quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.37 earnings per share. Gentex has set its FY 2025 guidance at EPS. As a group, sell-side analysts predict that Gentex Corporation will post 2.04 EPS for the current fiscal year.

Gentex announced that its board has initiated a stock repurchase program on Wednesday, July 16th that allows the company to buyback 40,000,000 shares. This buyback authorization allows the auto parts company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company's management believes its stock is undervalued.

Gentex Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Wednesday, October 8th will be given a dividend of $0.12 per share. The ex-dividend date is Wednesday, October 8th. This represents a $0.48 annualized dividend and a dividend yield of 1.8%. Gentex's dividend payout ratio (DPR) is currently 27.12%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. The Goldman Sachs Group set a $32.00 price target on Gentex in a report on Monday, September 29th. Industrial Alliance Securities set a $25.00 price target on Gentex in a report on Friday, July 11th. B. Riley upped their price target on Gentex from $28.00 to $32.00 and gave the company a "buy" rating in a report on Monday, July 28th. Robert W. Baird upped their price objective on Gentex from $26.00 to $30.00 and gave the company a "neutral" rating in a research report on Monday, July 28th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Gentex in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, Gentex has a consensus rating of "Hold" and an average price target 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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