Voloridge Investment Management LLC Grows Position in Gentex Co. (NASDAQ:GNTX)

Voloridge Investment Management LLC grew its stake in shares of Gentex Co. (NASDAQ:GNTX - Free Report) by 69.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 752,101 shares of the auto parts company's stock after acquiring an additional 308,774 shares during the quarter. Voloridge Investment Management LLC owned about 0.33% of Gentex worth $21,608,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Midwest Capital Advisors LLC bought a new stake in shares of Gentex during the fourth quarter valued at approximately $26,000. TD Private Client Wealth LLC grew its holdings in shares of Gentex by 138.8% in the fourth quarter. TD Private Client Wealth LLC now owns 1,139 shares of the auto parts company's stock valued at $33,000 after purchasing an additional 662 shares in the last quarter. Synergy Asset Management LLC purchased a new position in shares of Gentex in the fourth quarter valued at $34,000. LRI Investments LLC grew its holdings in shares of Gentex by 33.2% in the fourth quarter. LRI Investments LLC now owns 2,750 shares of the auto parts company's stock valued at $79,000 after purchasing an additional 686 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd purchased a new position in shares of Gentex in the fourth quarter valued at $96,000. Hedge funds and other institutional investors own 86.76% of the company's stock.

Insiders Place Their Bets

In other Gentex 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 value of $86,082.68. Following the sale, the director now owns 5,939 shares in the company, valued at approximately $135,824.93. This represents a 38.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.45% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. B. Riley reissued a "buy" rating and issued a $32.50 target price (down from $37.00) on shares of Gentex in a report on Monday, February 3rd. Robert W. Baird reaffirmed a "neutral" rating and set a $25.00 price objective (down from $31.00) on shares of Gentex in a research note on Tuesday, April 15th. Guggenheim dropped their price objective on shares of Gentex from $30.00 to $24.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. The Goldman Sachs Group dropped their price objective on shares of Gentex from $28.00 to $23.00 and set a "neutral" rating for the company in a research note on Thursday, April 10th. Finally, Baird R W lowered shares of Gentex from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 15th. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $28.31.

Gentex Trading Down 0.8%

Shares of GNTX traded down $0.19 during trading hours on Wednesday, reaching $21.82. 369,018 shares of the company traded hands, compared to its average volume of 1,805,901. The stock's fifty day moving average price is $22.22 and its 200 day moving average price is $25.66. The firm has a market cap of $4.90 billion, a price-to-earnings ratio of 12.39, a PEG ratio of 0.84 and a beta of 0.85. Gentex Co. has a 12-month low of $20.28 and a 12-month high of $35.32.

Gentex (NASDAQ:GNTX - Get Free Report) last issued its quarterly earnings results on Friday, April 25th. The auto parts company reported $0.43 earnings per share for the quarter, hitting analysts' consensus estimates of $0.43. Gentex had a return on equity of 16.74% and a net margin of 17.49%. The business had revenue of $576.77 million for the quarter, compared to analyst estimates of $578.68 million. During the same quarter in the previous year, the firm earned $0.47 earnings per share. The company's revenue was down 2.3% on a year-over-year basis. On average, research analysts forecast that Gentex Co. will post 2.04 earnings per share for the current year.

Gentex Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Wednesday, July 9th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 2.20%. 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.