Sei Investments Co. Purchases 197,075 Shares of Gentex Co. (NASDAQ:GNTX)

Sei Investments Co. raised its position in shares of Gentex Co. (NASDAQ:GNTX) by 149.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 328,659 shares of the auto parts company’s stock after acquiring an additional 197,075 shares during the period. Sei Investments Co. owned approximately 0.14% of Gentex worth $11,079,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Scharf Investments LLC raised its position in shares of Gentex by 36,001.4% in the second quarter. Scharf Investments LLC now owns 2,278,357 shares of the auto parts company’s stock valued at $76,803,000 after buying an additional 2,272,046 shares in the last quarter. First Trust Advisors LP raised its position in shares of Gentex by 301.6% in the fourth quarter. First Trust Advisors LP now owns 2,568,775 shares of the auto parts company’s stock valued at $83,896,000 after buying an additional 1,929,150 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Gentex by 27.9% in the fourth quarter. Wellington Management Group LLP now owns 8,728,378 shares of the auto parts company’s stock valued at $285,069,000 after buying an additional 1,905,356 shares in the last quarter. TD Asset Management Inc raised its position in shares of Gentex by 41.2% in the first quarter. TD Asset Management Inc now owns 4,677,655 shares of the auto parts company’s stock valued at $168,957,000 after buying an additional 1,363,898 shares in the last quarter. Finally, Motley Fool Asset Management LLC raised its position in shares of Gentex by 287.7% in the first quarter. Motley Fool Asset Management LLC now owns 1,204,152 shares of the auto parts company’s stock valued at $43,494,000 after buying an additional 893,552 shares in the last quarter. Institutional investors own 86.76% of the company’s stock.

Gentex Stock Performance

NASDAQ GNTX opened at $30.98 on Friday. The firm’s fifty day moving average price is $30.32 and its two-hundred day moving average price is $33.18. The stock has a market cap of $7.16 billion, a PE ratio of 16.39, a PEG ratio of 0.99 and a beta of 0.92. Gentex Co. has a fifty-two week low of $27.86 and a fifty-two week high of $37.58.

Gentex (NASDAQ:GNTX) last posted its earnings results 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 the consensus estimate of $623.28 million. Gentex had a return on equity of 17.78% and a net margin of 17.87%. As a group, sell-side analysts predict that Gentex Co. will post 1.96 earnings per share for the current fiscal year.

Gentex Announces Dividend

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

Insiders Place Their Bets

In other Gentex news, major shareholder Corp Gentex acquired 3,152,500 shares of Gentex stock in a transaction that occurred on Friday, August 23rd. The shares were bought at an average price of $5.00 per share, with a total value of $15,762,500.00. Following the completion of the purchase, the insider now directly owns 6,463,808 shares in the company, valued at approximately $32,319,040. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.41% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on GNTX. BNP Paribas downgraded shares of Gentex from an “outperform” rating to a “neutral” rating and set a $34.00 price target for the company. in a research report on Tuesday, July 30th. StockNews.com downgraded shares of Gentex from a “buy” rating to a “hold” rating in a research report on Thursday, July 4th. JPMorgan Chase & Co. lowered their price objective on shares of Gentex from $36.00 to $35.00 and set a “neutral” rating for the company in a research report on Monday, July 22nd. UBS Group assumed coverage on shares of Gentex in a research report on Wednesday, September 4th. They set a “neutral” rating and a $34.00 price objective for the company. Finally, B. Riley lowered their price objective on shares of Gentex from $44.00 to $41.00 and set a “buy” rating for the company in a research report on Monday, July 29th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock presently 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.