Schaper Benz & Wise Investment Counsel Inc. WI Acquires New Holdings in Gentex Co. (NASDAQ:GNTX)

by · The Cerbat Gem

Schaper Benz & Wise Investment Counsel Inc. WI bought a new position in Gentex Co. (NASDAQ:GNTX – Free Report) in the third quarter, according to the company in its most recent disclosure with the SEC. The fund bought 10,905 shares of the auto parts company’s stock, valued at approximately $324,000.

Other hedge funds have also added to or reduced their stakes in the company. Quest Partners LLC bought a new stake in shares of Gentex in the second quarter worth $31,000. Gladius Capital Management LP purchased a new position in Gentex in the second quarter worth about $34,000. EverSource Wealth Advisors LLC grew its stake in shares of Gentex by 173.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,341 shares of the auto parts company’s stock valued at $42,000 after purchasing an additional 850 shares during the period. Thurston Springer Miller Herd & Titak Inc. increased its position in shares of Gentex by 227.8% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,826 shares of the auto parts company’s stock valued at $54,000 after purchasing an additional 1,269 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Gentex by 26.3% in the 1st quarter. GAMMA Investing LLC now owns 1,742 shares of the auto parts company’s stock worth $63,000 after purchasing an additional 363 shares during the period. 86.76% of the stock is currently owned by hedge funds and other institutional investors.

Gentex Stock Up 0.8 %

NASDAQ GNTX opened at $29.92 on Friday. Gentex Co. has a twelve month low of $27.86 and a twelve month high of $37.58. The business has a 50-day moving average price of $29.85 and a 200-day moving average price of $32.41. The firm has a market cap of $6.92 billion, a price-to-earnings ratio of 15.83, a price-to-earnings-growth ratio of 0.95 and a beta of 0.92.

Gentex (NASDAQ:GNTX – Get Free Report) last posted its quarterly earnings results on Friday, July 26th. The auto parts company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.15). The business had revenue of $572.93 million during the quarter, compared to the consensus estimate of $623.28 million. Gentex had a return on equity of 17.78% and a net margin of 17.87%. Research analysts expect that Gentex Co. will post 1.96 EPS for the current fiscal year.

Gentex Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 9th will be issued a $0.12 dividend. The ex-dividend date is Wednesday, October 9th. This represents a $0.48 dividend on an annualized basis and a yield of 1.60%. Gentex’s dividend payout ratio is currently 25.40%.

Analyst Upgrades and Downgrades

GNTX has been the subject of several recent research reports. The Goldman Sachs Group cut their target price on shares of Gentex from $33.00 to $31.00 and set a “neutral” rating for the company in a research report on Tuesday, October 1st. StockNews.com cut Gentex from a “buy” rating to a “hold” rating in a report on Thursday, July 4th. UBS Group started coverage on Gentex in a research report on Wednesday, September 4th. They set a “neutral” rating and a $34.00 target price on the stock. JPMorgan Chase & Co. reduced their price target on Gentex from $36.00 to $35.00 and set a “neutral” rating for the company in a research report on Monday, July 22nd. Finally, BNP Paribas cut Gentex from an “outperform” rating to a “neutral” rating and set a $34.00 price objective on the stock. in a research report on Tuesday, July 30th. Six analysts have rated the stock with a hold rating and three have given 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 target price of $36.13.

Check Out Our Latest Stock Analysis on GNTX

Insider Buying and Selling at Gentex

In other news, major shareholder Corp Gentex acquired 3,152,500 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was purchased at an average price of $5.00 per share, for a total transaction of $15,762,500.00. Following the completion of the transaction, the insider now directly owns 6,463,808 shares in the company, valued at approximately $32,319,040. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.41% of the stock is currently owned by insiders.

Gentex Profile

(Free Report)

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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