Eubel Brady & Suttman Asset Management Inc. Buys 212,949 Shares of Gentex Corporation $GNTX

Eubel Brady & Suttman Asset Management Inc. raised its stake in shares of Gentex Corporation (NASDAQ:GNTX) by 31.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 886,145 shares of the auto parts company’s stock after acquiring an additional 212,949 shares during the quarter. Gentex makes up 2.5% of Eubel Brady & Suttman Asset Management Inc.’s portfolio, making the stock its 19th largest holding. Eubel Brady & Suttman Asset Management Inc.’s holdings in Gentex were worth $19,486,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GNTX. Teacher Retirement System of Texas grew its holdings in shares of Gentex by 10.4% during the second quarter. Teacher Retirement System of Texas now owns 248,598 shares of the auto parts company’s stock worth $5,467,000 after purchasing an additional 23,418 shares during the last quarter. Y Intercept Hong Kong Ltd grew its holdings in shares of Gentex by 256.8% during the second quarter. Y Intercept Hong Kong Ltd now owns 213,375 shares of the auto parts company’s stock worth $4,692,000 after purchasing an additional 153,575 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of Gentex by 0.4% during the second quarter. Nisa Investment Advisors LLC now owns 139,315 shares of the auto parts company’s stock worth $3,064,000 after purchasing an additional 614 shares during the last quarter. State of New Jersey Common Pension Fund D grew its holdings in shares of Gentex by 3.1% during the second quarter. State of New Jersey Common Pension Fund D now owns 85,767 shares of the auto parts company’s stock worth $1,886,000 after purchasing an additional 2,548 shares during the last quarter. Finally, AlphaQuest LLC grew its holdings in shares of Gentex by 97.7% during the second quarter. AlphaQuest LLC now owns 84,974 shares of the auto parts company’s stock worth $1,869,000 after purchasing an additional 42,001 shares during the last quarter. 86.76% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

GNTX has been the topic of several recent research reports. The Goldman Sachs Group set a $27.00 price target on Gentex and gave the company a “neutral” rating in a report on Monday. Wall Street Zen upgraded Gentex from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. UBS Group reiterated a “neutral” rating and issued a $29.00 price target (up previously from $28.00) on shares of Gentex in a report on Monday, October 6th. Robert W. Baird set a $29.00 price target on Gentex in a report on Monday. Finally, B. Riley raised their price target on Gentex from $28.00 to $32.00 and gave the company a “buy” rating in a report on Monday, July 28th. Two equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, Gentex has an average rating of “Hold” and a consensus price target of $28.29.

Gentex Price Performance

NASDAQ GNTX opened at $23.67 on Wednesday. The firm has a market cap of $5.20 billion, a P/E ratio of 13.92 and a beta of 0.84. The stock’s 50-day moving average is $27.42 and its 200-day moving average is $24.60. Gentex Corporation has a one year low of $20.28 and a one year high of $31.47.

Gentex (NASDAQ:GNTX) last announced its earnings results on Friday, October 24th. The auto parts company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.01). Gentex had a net margin of 15.61% and a return on equity of 15.86%. The firm had revenue of $655.24 million during the quarter, compared to analyst estimates of $661.10 million. During the same period in the prior year, the business posted $0.53 EPS. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. Gentex has set its FY 2025 guidance at EPS. Equities analysts anticipate that Gentex Corporation will post 2.04 EPS for the current year.

Gentex Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 22nd. Stockholders of record on Wednesday, October 8th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Wednesday, October 8th. Gentex’s payout ratio is currently 28.24%.

Gentex declared that its Board of Directors has approved a stock buyback program on Wednesday, July 16th that allows the company to buyback 40,000,000 shares. This buyback authorization allows the auto parts company to repurchase shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

Gentex Company 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.