Stevens Capital Management LP Buys New Stake in Gentex (GNTX)

Stevens Capital Management LP bought a new position in shares of Gentex (NASDAQ:GNTX) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 67,843 shares of the auto parts company’s stock, valued at approximately $1,562,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Schwab Charles Investment Management Inc. increased its stake in shares of Gentex by 6.4% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,778,887 shares of the auto parts company’s stock worth $37,268,000 after buying an additional 107,327 shares during the last quarter. State of Alaska Department of Revenue bought a new stake in shares of Gentex in the fourth quarter worth $399,000. Hendershot Investments Inc. increased its stake in shares of Gentex by 30.8% in the fourth quarter. Hendershot Investments Inc. now owns 196,955 shares of the auto parts company’s stock worth $4,126,000 after buying an additional 46,395 shares during the last quarter. Palo Capital Inc. increased its stake in shares of Gentex by 16.9% in the fourth quarter. Palo Capital Inc. now owns 179,178 shares of the auto parts company’s stock worth $3,754,000 after buying an additional 25,868 shares during the last quarter. Finally, Smith Graham & Co. Investment Advisors LP increased its stake in shares of Gentex by 21.5% in the fourth quarter. Smith Graham & Co. Investment Advisors LP now owns 292,950 shares of the auto parts company’s stock worth $6,137,000 after buying an additional 51,800 shares during the last quarter. 83.35% of the stock is currently owned by institutional investors and hedge funds.

A number of analysts recently issued reports on GNTX shares. B. Riley restated a “buy” rating and issued a $29.00 price target (up previously from $25.00) on shares of Gentex in a research note on Wednesday, January 24th. ValuEngine upgraded shares of Gentex from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Zacks Investment Research upgraded shares of Gentex from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a research note on Wednesday, January 31st. BidaskClub lowered shares of Gentex from a “strong-buy” rating to a “buy” rating in a research note on Saturday, April 21st. Finally, Longbow Research reiterated a “buy” rating and set a $28.00 target price on shares of Gentex in a research note on Monday, April 23rd. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $25.60.

In related news, Chairman Fred Bauer sold 946,200 shares of the company’s stock in a transaction dated Monday, March 12th. The shares were sold at an average price of $23.33, for a total value of $22,074,846.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frederick A. Sotok sold 4,000 shares of the company’s stock in a transaction dated Wednesday, May 2nd. The stock was sold at an average price of $22.92, for a total transaction of $91,680.00. Following the completion of the sale, the director now directly owns 31,696 shares of the company’s stock, valued at approximately $726,472.32. The disclosure for this sale can be found here. Insiders have sold 951,260 shares of company stock valued at $22,190,387 in the last 90 days. Insiders own 0.60% of the company’s stock.

Gentex stock opened at $24.05 on Monday. The stock has a market cap of $6.59 billion, a PE ratio of 17.82, a PEG ratio of 1.09 and a beta of 1.25. Gentex has a one year low of $16.59 and a one year high of $24.60.

Gentex (NASDAQ:GNTX) last released its quarterly earnings results on Friday, April 20th. The auto parts company reported $0.40 EPS for the quarter, hitting the consensus estimate of $0.40. The business had revenue of $465.42 million during the quarter, compared to analyst estimates of $478.06 million. Gentex had a net margin of 23.27% and a return on equity of 19.05%. The company’s quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.33 earnings per share. research analysts expect that Gentex will post 1.7 EPS for the current fiscal year.

Gentex announced that its board has authorized a stock repurchase program on Friday, March 9th that authorizes the company to repurchase 20,000,000 shares. This repurchase authorization authorizes the auto parts company to reacquire shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

About Gentex

Gentex Corporation provides automatic-dimming and non-dimming rearview mirrors, and electronics for the automotive industry; dimmable aircraft windows for the aviation industry; and commercial smoke alarms and signaling devices for the fire protection industry worldwide. It designs, develops, manufactures, and markets automotive products, including interior and exterior electrochromic automatic-dimming rearview mirrors, automotive electronics, and interior and exterior non-automatic-dimming rearview mirrors with electronic features for automotive passenger cars, light trucks, pick-up trucks, sport utility vehicles, and vans for original equipment manufacturers, tier one automotive mirror manufacturers, and various aftermarket and accessory customers.

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Institutional Ownership by Quarter for Gentex (NASDAQ:GNTX)

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