Amalgamated Bank Reduces Position in Gentex Co. (NASDAQ:GNTX)

Amalgamated Bank lowered its holdings in Gentex Co. (NASDAQ:GNTX) by 5.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 108,526 shares of the auto parts company’s stock after selling 5,990 shares during the period. Amalgamated Bank’s holdings in Gentex were worth $3,118,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Midwest Capital Advisors LLC purchased a new position in shares of Gentex during the 4th quarter valued at approximately $26,000. Synergy Asset Management LLC bought a new position in Gentex during the 4th quarter valued at $34,000. Thurston Springer Miller Herd & Titak Inc. grew its holdings in Gentex by 32.5% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,419 shares of the auto parts company’s stock worth $70,000 after acquiring an additional 593 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Gentex during the 3rd quarter worth $125,000. Finally, GAMMA Investing LLC increased its position in shares of Gentex by 159.1% in the 4th quarter. GAMMA Investing LLC now owns 5,133 shares of the auto parts company’s stock worth $147,000 after purchasing an additional 3,152 shares during the last quarter. Institutional investors and hedge funds own 86.76% of the company’s stock.

Gentex Price Performance

Shares of GNTX opened at $24.32 on Friday. Gentex Co. has a 12 month low of $24.07 and a 12 month high of $37.58. The stock has a fifty day moving average price of $26.70 and a 200 day moving average price of $28.90. The company has a market cap of $5.53 billion, a P/E ratio of 13.82, a PEG ratio of 0.84 and a beta of 0.91.

Gentex (NASDAQ:GNTX) last released its quarterly earnings results on Friday, January 31st. The auto parts company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.10). Gentex had a return on equity of 16.74% and a net margin of 17.49%. During the same quarter in the prior year, the business posted $0.50 EPS. As a group, research analysts anticipate that Gentex Co. will post 2.04 earnings per share for the current year.

Gentex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Wednesday, April 9th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, April 9th. This represents a $0.48 annualized dividend and a dividend yield of 1.97%. Gentex’s dividend payout ratio is presently 27.27%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. UBS Group decreased their price target on Gentex from $30.00 to $29.00 and set a “neutral” rating for the company in a research note on Monday, February 3rd. Guggenheim decreased their target price on Gentex from $35.00 to $34.00 and set a “buy” rating for the company in a research report on Thursday, November 21st. Robert W. Baird set a $31.00 price target on Gentex in a research report on Monday, February 3rd. JPMorgan Chase & Co. decreased their price objective on shares of Gentex from $34.00 to $32.00 and set a “neutral” rating for the company in a report on Monday, February 3rd. Finally, B. Riley reiterated a “buy” rating and set a $32.50 target price (down previously from $37.00) on shares of Gentex in a research note on Monday, February 3rd. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Gentex presently has a consensus rating of “Hold” and an average target price of $32.31.

About Gentex

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.