Two Sigma Securities LLC Buys 29,417 Shares of Gentex Corporation $GNTX

Two Sigma Securities LLC boosted its stake in Gentex Corporation (NASDAQ:GNTX) by 293.1% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 39,454 shares of the auto parts company’s stock after purchasing an additional 29,417 shares during the quarter. Two Sigma Securities LLC’s holdings in Gentex were worth $997,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Anchor Investment Management LLC bought a new stake in shares of Gentex in the first quarter worth about $26,000. AdvisorNet Financial Inc boosted its stake in Gentex by 2,299.0% during the first quarter. AdvisorNet Financial Inc now owns 2,399 shares of the auto parts company’s stock valued at $52,000 after buying an additional 2,299 shares during the last quarter. Arax Advisory Partners purchased a new position in Gentex during the 4th quarter valued at approximately $52,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Gentex during the 2nd quarter valued at approximately $54,000. Finally, Employees Retirement System of Texas bought a new stake in Gentex in the 4th quarter worth approximately $56,000. Institutional investors own 86.76% of the company’s stock.

Gentex Stock Performance

NASDAQ:GNTX opened at $22.37 on Tuesday. The stock’s fifty day moving average is $23.97 and its 200 day moving average is $23.46. Gentex Corporation has a fifty-two week low of $20.48 and a fifty-two week high of $29.38. The firm has a market capitalization of $4.76 billion, a PE ratio of 11.84 and a beta of 0.79.

Gentex (NASDAQ:GNTX) last posted its quarterly earnings data on Friday, July 24th. The auto parts company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.50 by $0.08. Gentex had a net margin of 15.50% and a return on equity of 16.78%. The company had revenue of $651.30 million during the quarter, compared to analyst estimates of $669.65 million. During the same period in the previous year, the firm earned $0.43 earnings per share. Gentex’s quarterly revenue was down 1.0% compared to the same quarter last year. Equities analysts forecast that Gentex Corporation will post 2.04 EPS for the current year.

Gentex Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 21st. Investors of record on Wednesday, October 7th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, October 7th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.1%. Gentex’s payout ratio is currently 25.40%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Freedom Capital downgraded Gentex from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 29th. UBS Group reaffirmed a “neutral” rating and set a $25.00 price target (down from $26.00) on shares of Gentex in a research note on Thursday, July 9th. Wall Street Zen lowered shares of Gentex from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. JPMorgan Chase & Co. dropped their price objective on shares of Gentex from $28.00 to $27.00 and set a “neutral” rating for the company in a research note on Monday, August 10th. Finally, Weiss Ratings upgraded shares of Gentex from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, June 23rd. One investment analyst has rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, Gentex has a consensus rating of “Hold” and an average price target of $26.80.

Gentex 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).