Gentex Co. (GNTX) Short Interest Down 12.9% in January

Gentex Co. (NASDAQ:GNTX) saw a large decline in short interest in the month of January. As of January 31st, there was short interest totalling 11,298,240 shares, a decline of 12.9% from the January 12th total of 12,978,893 shares. Approximately 4.1% of the shares of the company are short sold. Based on an average trading volume of 3,259,577 shares, the days-to-cover ratio is presently 3.5 days.

Several brokerages have recently issued reports on GNTX. KeyCorp reissued a “buy” rating and issued a $25.00 price objective on shares of Gentex in a report on Sunday, October 15th. Zacks Investment Research raised Gentex from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a report on Tuesday, October 17th. FBR & Co reissued a “buy” rating and issued a $25.00 price objective on shares of Gentex in a report on Wednesday, October 18th. Robert W. Baird decreased their price objective on Gentex from $22.00 to $21.00 and set an “outperform” rating for the company in a report on Monday, October 23rd. Finally, B. Riley reissued a “buy” rating on shares of Gentex in a report on Wednesday, November 1st. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Gentex presently has a consensus rating of “Buy” and a consensus target price of $25.50.

Gentex (GNTX) opened at $22.17 on Friday. The firm has a market capitalization of $6,382.13, a PE ratio of 15.72, a P/E/G ratio of 1.44 and a beta of 1.31. Gentex has a fifty-two week low of $16.59 and a fifty-two week high of $24.07.

Gentex (NASDAQ:GNTX) last released its quarterly earnings results on Friday, January 26th. The auto parts company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.01. The company had revenue of $459.57 million during the quarter, compared to analysts’ expectations of $449.43 million. Gentex had a return on equity of 18.35% and a net margin of 22.66%. Gentex’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.31 EPS. research analysts predict that Gentex will post 1.62 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 17th. Investors of record on Friday, January 5th were issued a $0.10 dividend. The ex-dividend date was Thursday, January 4th. This represents a $0.40 dividend on an annualized basis and a yield of 1.80%. Gentex’s payout ratio is 28.37%.

In other Gentex news, Director James H. Wallace sold 12,000 shares of Gentex stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $23.40, for a total transaction of $280,800.00. Following the completion of the sale, the director now owns 48,304 shares of the company’s stock, valued at approximately $1,130,313.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Scott P. Ryan sold 7,220 shares of Gentex stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $23.66, for a total value of $170,825.20. Following the sale, the general counsel now directly owns 21,329 shares of the company’s stock, valued at approximately $504,644.14. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 27,094 shares of company stock valued at $635,877. 2.50% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Redmond Asset Management LLC raised its holdings in Gentex by 7.8% in the 3rd quarter. Redmond Asset Management LLC now owns 97,492 shares of the auto parts company’s stock worth $1,930,000 after purchasing an additional 7,018 shares during the period. Sprucegrove Investment Management Ltd. raised its holdings in Gentex by 34.5% in the 3rd quarter. Sprucegrove Investment Management Ltd. now owns 1,207,300 shares of the auto parts company’s stock worth $23,905,000 after purchasing an additional 309,800 shares during the period. Claar Advisors LLC purchased a new stake in Gentex during the 3rd quarter worth approximately $9,900,000. Disciplined Growth Investors Inc. MN increased its stake in Gentex by 0.8% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 4,341,788 shares of the auto parts company’s stock worth $82,364,000 after buying an additional 33,375 shares in the last quarter. Finally, BerganKDV Wealth Management LLC purchased a new stake in Gentex during the 3rd quarter worth approximately $376,000. 81.39% of the stock is owned by institutional investors.

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Gentex Company Profile

Gentex Corporation designs and manufactures automatic-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. The Company’s business segment involves designing, developing, manufacturing and marketing interior and exterior automatic-dimming automotive rearview mirrors that utilize electrochromic technology to dim in proportion to the amount of headlight glare from trailing vehicle headlamps.

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