American Century Companies Inc. Buys 8,793 Shares of Gentex Co. (NASDAQ:GNTX)

American Century Companies Inc. boosted its position in Gentex Co. (NASDAQ:GNTX) by 10.1% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 95,523 shares of the auto parts company’s stock after purchasing an additional 8,793 shares during the quarter. American Century Companies Inc.’s holdings in Gentex were worth $3,220,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Neo Ivy Capital Management bought a new stake in Gentex during the fourth quarter valued at approximately $29,000. Quest Partners LLC bought a new position in shares of Gentex during the second quarter valued at about $31,000. Gladius Capital Management LP purchased a new position in Gentex in the 2nd quarter worth approximately $34,000. GAMMA Investing LLC increased its stake in shares of Gentex by 26.3% in the first quarter. GAMMA Investing LLC now owns 1,742 shares of the auto parts company’s stock worth $63,000 after buying an additional 363 shares during the period. Finally, HHM Wealth Advisors LLC purchased a new stake in shares of Gentex during the second quarter worth about $67,000. Hedge funds and other institutional investors own 86.76% of the company’s stock.

Gentex Stock Performance

NASDAQ GNTX opened at $30.95 on Friday. The business’s fifty day moving average is $30.39 and its 200 day moving average is $33.19. Gentex Co. has a fifty-two week low of $27.86 and a fifty-two week high of $37.58. The company has a market capitalization of $7.16 billion, a PE ratio of 16.38, a price-to-earnings-growth ratio of 0.99 and a beta of 0.92.

Gentex (NASDAQ:GNTX) last posted its quarterly earnings data on Friday, July 26th. The auto parts company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.15). The company had revenue of $572.93 million for the quarter, compared to analysts’ expectations of $623.28 million. Gentex had a net margin of 17.87% and a return on equity of 17.78%. On average, sell-side analysts forecast that Gentex Co. will post 1.96 EPS for the current year.

Gentex Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 9th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.55%. The ex-dividend date of this dividend is Wednesday, October 9th. Gentex’s dividend payout ratio (DPR) is presently 25.40%.

Insider Activity

In other news, major shareholder Corp Gentex bought 3,152,500 shares of the stock in a transaction dated Friday, August 23rd. The stock was purchased at an average cost of $5.00 per share, for a total transaction of $15,762,500.00. Following the transaction, the insider now owns 6,463,808 shares of the company’s stock, valued at $32,319,040. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.41% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on GNTX shares. UBS Group started coverage on shares of Gentex in a report on Wednesday, September 4th. They issued a “neutral” rating and a $34.00 price target on the stock. B. Riley cut their price target on Gentex from $44.00 to $41.00 and set a “buy” rating on the stock in a research note on Monday, July 29th. StockNews.com downgraded shares of Gentex from a “buy” rating to a “hold” rating in a research report on Thursday, July 4th. Robert W. Baird reduced their target price on Gentex from $40.00 to $38.00 and set an “outperform” rating for the company in a report on Monday, July 29th. Finally, BNP Paribas lowered shares of Gentex from an “outperform” rating to a “neutral” rating and set a $34.00 price target for the company. in a research note on Tuesday, July 30th. Five research 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, the company has an average rating of “Hold” and an average price target of $36.86.

Gentex 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.