Mutual of America Capital Management LLC Trims Holdings in Gentex Corporation $GNTX

Mutual of America Capital Management LLC cut its stake in Gentex Corporation (NASDAQ:GNTX) by 4.5% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 111,797 shares of the auto parts company’s stock after selling 5,258 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Gentex were worth $2,458,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its position in shares of Gentex by 4.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,622,237 shares of the auto parts company’s stock valued at $37,798,000 after purchasing an additional 62,137 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Gentex by 0.4% in the first quarter. Principal Financial Group Inc. now owns 523,489 shares of the auto parts company’s stock valued at $12,197,000 after purchasing an additional 1,923 shares in the last quarter. Asset Management One Co. Ltd. grew its position in Gentex by 5.9% during the first quarter. Asset Management One Co. Ltd. now owns 219,454 shares of the auto parts company’s stock worth $5,113,000 after buying an additional 12,168 shares in the last quarter. Speece Thorson Capital Group Inc. grew its position in Gentex by 18.3% during the first quarter. Speece Thorson Capital Group Inc. now owns 682,684 shares of the auto parts company’s stock worth $15,907,000 after buying an additional 105,446 shares in the last quarter. Finally, Hsbc Holdings PLC purchased a new position in Gentex during the first quarter worth about $700,000. 86.76% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. B. Riley boosted their target price on Gentex from $28.00 to $32.00 and gave the stock a “buy” rating in a research report on Monday, July 28th. JPMorgan Chase & Co. boosted their target price on Gentex from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Monday, October 20th. Weiss Ratings restated a “hold (c)” rating on shares of Gentex in a research report on Wednesday, October 8th. Industrial Alliance Securities set a $25.00 target price on Gentex in a research report on Friday, July 11th. Finally, The Goldman Sachs Group set a $32.00 target price on Gentex in a research report on Monday, September 29th. Two equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $29.14.

Gentex Price Performance

Shares of GNTX opened at $23.64 on Friday. The firm has a market cap of $5.19 billion, a P/E ratio of 13.36 and a beta of 0.84. The stock has a 50 day simple moving average of $27.57 and a two-hundred day simple moving average of $24.52. Gentex Corporation has a 1 year low of $20.28 and a 1 year high of $31.48.

Gentex (NASDAQ:GNTX) last issued its earnings results on Friday, October 24th. The auto parts company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.01). The firm had revenue of $655.24 million during the quarter, compared to analysts’ expectations of $661.10 million. Gentex had a return on equity of 16.86% and a net margin of 16.82%.The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.53 EPS. Gentex has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that Gentex Corporation will post 2.04 earnings per share for the current year.

Gentex Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 22nd. Investors of record on Wednesday, October 8th were issued a dividend of $0.12 per share. The ex-dividend date was Wednesday, October 8th. This represents a $0.48 annualized dividend and a yield of 2.0%. Gentex’s dividend payout ratio is currently 27.12%.

Gentex announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, July 16th that authorizes the company to buyback 40,000,000 shares. This buyback authorization authorizes the auto parts company to purchase shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

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.