Gentex Corporation (NASDAQ:GNTX) Plans $0.12 Quarterly Dividend

Gentex Corporation (NASDAQ:GNTX) announced a quarterly dividend on Friday, May 29th. Investors of record on Wednesday, July 8th will be given a dividend of 0.12 per share by the auto parts company on Wednesday, July 22nd. This represents a c) annualized dividend and a yield of 2.0%. The ex-dividend date is Wednesday, July 8th.

Gentex has a payout ratio of 25.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Gentex to earn $2.17 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 22.1%.

Gentex Stock Up 0.3%

NASDAQ GNTX traded up $0.08 on Friday, reaching $24.16. The stock had a trading volume of 2,787,265 shares, compared to its average volume of 2,232,101. The firm has a market capitalization of $5.14 billion, a price-to-earnings ratio of 13.57 and a beta of 0.78. Gentex has a 12-month low of $20.48 and a 12-month high of $29.38. The stock has a fifty day moving average price of $22.54 and a two-hundred day moving average price of $23.08.

Gentex (NASDAQ:GNTX) last released its quarterly earnings results on Friday, April 24th. The auto parts company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.44 by $0.04. Gentex had a return on equity of 16.27% and a net margin of 14.75%.The business had revenue of $675.44 million during the quarter, compared to analyst estimates of $649.42 million. During the same period last year, the business posted $0.42 earnings per share. The company’s quarterly revenue was up 17.1% on a year-over-year basis. Sell-side analysts forecast that Gentex will post 1.96 earnings per share for the current fiscal year.

Insider Activity

In other Gentex news, Director Richard O. Schaum sold 4,815 shares of the business’s stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $23.31, for a total transaction of $112,237.65. Following the completion of the transaction, the director owned 81,443 shares in the company, valued at $1,898,436.33. The trade was a 5.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Brian C. Walker sold 5,939 shares of the stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $22.98, for a total transaction of $136,478.22. Following the completion of the sale, the director directly owned 24,205 shares in the company, valued at approximately $556,230.90. This represents a 19.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 16,693 shares of company stock worth $385,194. 0.55% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Gentex

Several hedge funds have recently added to or reduced their stakes in the stock. Anchor Investment Management LLC acquired a new stake in Gentex during the first quarter worth approximately $26,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Gentex in the 3rd quarter valued at $38,000. AdvisorNet Financial Inc boosted its holdings in shares of Gentex by 2,299.0% in the 1st 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 in the last quarter. Arax Advisory Partners purchased a new position in shares of Gentex in the 4th quarter valued at $52,000. Finally, Employees Retirement System of Texas purchased a new position in shares of Gentex in the 4th quarter valued at $56,000. 86.76% of the stock is currently owned by hedge funds and other institutional investors.

About Gentex

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).