Crestline Management LP Raises Stock Holdings in Gentex Co. (NASDAQ:GNTX)

Crestline Management LP increased its stake in shares of Gentex Co. (NASDAQ:GNTX - Free Report) by 171.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 49,218 shares of the auto parts company's stock after buying an additional 31,112 shares during the quarter. Crestline Management LP's holdings in Gentex were worth $1,414,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Midwest Capital Advisors LLC purchased a new stake in Gentex during the fourth quarter worth approximately $26,000. TD Private Client Wealth LLC lifted its holdings in shares of Gentex by 138.8% in the 4th 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 during the last quarter. Synergy Asset Management LLC acquired a new stake in shares of Gentex in the 4th quarter valued at about $34,000. Thurston Springer Miller Herd & Titak Inc. grew its stake in Gentex by 32.5% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,419 shares of the auto parts company's stock worth $70,000 after buying an additional 593 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd acquired a new position in Gentex during the fourth quarter worth approximately $96,000. 86.76% of the stock is owned by institutional investors and hedge funds.

Gentex Stock Up 5.2%

Shares of GNTX stock traded up $1.16 during trading hours on Monday, hitting $23.37. 2,349,551 shares of the company were exchanged, compared to its average volume of 1,745,825. The firm has a fifty day moving average of $22.71 and a 200 day moving average of $26.31. Gentex Co. has a 1 year low of $20.28 and a 1 year high of $35.33. The firm has a market cap of $5.25 billion, a PE ratio of 13.28, a PEG ratio of 0.84 and a beta of 0.85.

Gentex (NASDAQ:GNTX - Get Free Report) last announced its quarterly earnings results on Friday, April 25th. The auto parts company reported $0.43 earnings per share for the quarter, meeting analysts' consensus estimates of $0.43. Gentex had a net margin of 17.49% and a return on equity of 16.74%. The firm 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 company posted $0.47 earnings per share. Gentex's revenue was down 2.3% compared to the same quarter last year. Analysts expect that Gentex Co. will post 2.04 earnings per share for the current year.

Gentex Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 23rd. Shareholders of record on Wednesday, April 9th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date of this dividend was Wednesday, April 9th. Gentex's dividend payout ratio is presently 28.07%.

Wall Street Analysts Forecast Growth

GNTX has been the topic of a number of research reports. JPMorgan Chase & Co. lowered their price target on Gentex from $34.00 to $32.00 and set a "neutral" rating on the stock in a report on Monday, February 3rd. The Goldman Sachs Group cut their price objective on shares of Gentex from $28.00 to $23.00 and set a "neutral" rating for the company in a research report on Thursday, April 10th. UBS Group lowered their target price 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. Baird R W cut Gentex from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 15th. Finally, Guggenheim decreased their price target on Gentex from $30.00 to $24.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Eight analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $28.31.

Gentex Company 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.