Gentex Corporation (NASDAQ:GNTX) Announces $0.12 Quarterly Dividend

Gentex Corporation (NASDAQ:GNTX) announced a quarterly dividend on Tuesday, February 24th. Shareholders of record on Wednesday, April 8th will be paid a dividend of 0.12 per share by the auto parts company on Wednesday, April 22nd. This represents a c) dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Wednesday, April 8th.

Gentex has a payout ratio of 25.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Gentex to earn $2.15 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 22.3%.

Gentex Trading Up 0.9%

GNTX stock traded up $0.22 during trading on Tuesday, reaching $23.79. 1,344,960 shares of the stock were exchanged, compared to its average volume of 2,511,752. Gentex has a twelve month low of $20.28 and a twelve month high of $29.38. The company has a market capitalization of $5.21 billion, a P/E ratio of 13.67 and a beta of 0.78. The stock has a 50 day simple moving average of $23.91 and a 200-day simple moving average of $25.12.

Gentex (NASDAQ:GNTX) last posted its quarterly earnings results on Friday, January 30th. The auto parts company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. Gentex had a net margin of 15.19% and a return on equity of 16.05%. The firm had revenue of $644.40 million for the quarter, compared to the consensus estimate of $650.90 million. During the same quarter in the previous year, the company earned $0.39 earnings per share. The business’s revenue was up 19.0% compared to the same quarter last year. Equities analysts predict that Gentex will post 2.04 EPS for the current year.

Insider Activity

In related news, CTO Neil Boehm sold 11,248 shares of the company’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $24.82, for a total value of $279,175.36. Following the completion of the sale, the chief technology officer owned 58,951 shares in the company, valued at $1,463,163.82. This represents a 16.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Kevin C. Nash sold 11,885 shares of the business’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $24.98, for a total value of $296,887.30. Following the completion of the transaction, the chief financial officer directly owned 59,430 shares of the company’s stock, valued at approximately $1,484,561.40. The trade was a 16.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 58,133 shares of company stock valued at $1,442,313 in the last ninety days. 0.45% of the stock is owned by insiders.

Hedge Funds Weigh In On Gentex

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Nordea Investment Management AB acquired a new stake in shares of Gentex in the third quarter valued at approximately $6,422,000. Deprince Race & Zollo Inc. bought a new position in Gentex in the third quarter valued at $26,283,000. Cidel Asset Management Inc. grew its position in Gentex by 13.7% in the third quarter. Cidel Asset Management Inc. now owns 450,780 shares of the auto parts company’s stock valued at $12,757,000 after purchasing an additional 54,328 shares in the last quarter. Global Alpha Capital Management Ltd. acquired a new stake in Gentex in the 2nd quarter valued at $19,318,000. Finally, JPMorgan Chase & Co. lifted its position in Gentex by 21.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,725,426 shares of the auto parts company’s stock worth $190,330,000 after buying an additional 1,206,060 shares in the last quarter. 86.76% of the stock is owned by institutional investors and hedge funds.

Gentex Company Profile

Gentex Corporation (NASDAQ: GNTX) is a global technology company specializing in the design and manufacture of automotive and aerospace products. The company’s primary business centers on automatic-dimming rearview mirrors, advanced driver-assistance systems (ADAS), and camera-based driver monitoring technologies. In the automotive sector, Gentex supplies exterior and interior mirrors with integrated electronics, connectivity features, and safety capabilities to many of the world’s leading original equipment manufacturers (OEMs).