Marshall Wace LLP Invests $10.87 Million in Gentex Co. (NASDAQ:GNTX)

Marshall Wace LLP acquired a new position in Gentex Co. (NASDAQ:GNTX) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 378,272 shares of the auto parts company’s stock, valued at approximately $10,868,000.

Several other hedge funds have also recently bought and sold shares of GNTX. Gamco Investors INC. ET AL increased its holdings in shares of Gentex by 0.7% during the 4th quarter. Gamco Investors INC. ET AL now owns 215,500 shares of the auto parts company’s stock valued at $6,191,000 after acquiring an additional 1,500 shares during the last quarter. Ontario Teachers Pension Plan Board bought a new stake in shares of Gentex during the 4th quarter worth $382,000. Barclays PLC grew its stake in Gentex by 66.5% in the 4th quarter. Barclays PLC now owns 179,659 shares of the auto parts company’s stock valued at $5,162,000 after buying an additional 71,729 shares during the last quarter. Grandeur Peak Global Advisors LLC lifted its position in Gentex by 69.5% during the 4th quarter. Grandeur Peak Global Advisors LLC now owns 59,772 shares of the auto parts company’s stock worth $1,717,000 after acquiring an additional 24,509 shares during the last quarter. Finally, Covestor Ltd boosted its holdings in Gentex by 49.8% during the fourth quarter. Covestor Ltd now owns 7,379 shares of the auto parts company’s stock valued at $212,000 after acquiring an additional 2,454 shares during the period. 86.76% of the stock is owned by institutional investors and hedge funds.

Gentex Price Performance

Gentex stock opened at $21.29 on Tuesday. The business has a 50 day simple moving average of $23.46 and a 200 day simple moving average of $27.05. The company has a market capitalization of $4.82 billion, a PE ratio of 12.10, a price-to-earnings-growth ratio of 0.84 and a beta of 0.84. Gentex Co. has a one year low of $20.28 and a one year high of $35.33.

Gentex (NASDAQ:GNTX) last announced its earnings results on Friday, January 31st. The auto parts company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 last year, the firm posted $0.50 EPS. Equities analysts anticipate that Gentex Co. will post 2.04 earnings per share for the current fiscal year.

Gentex Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Wednesday, April 9th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, April 9th. This represents a $0.48 dividend on an annualized basis and a yield of 2.25%. Gentex’s dividend payout ratio is 27.27%.

Wall Street Analysts Forecast Growth

GNTX has been the subject of several recent analyst reports. B. Riley restated 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. Robert W. Baird reiterated a “neutral” rating and set a $25.00 target price (down from $31.00) on shares of Gentex in a research note on Tuesday, April 15th. JPMorgan Chase & Co. decreased their price target on shares of Gentex from $34.00 to $32.00 and set a “neutral” rating on the stock in a research report on Monday, February 3rd. Guggenheim set a $30.00 target price on shares of Gentex in a research note on Wednesday, March 5th. Finally, The Goldman Sachs Group lowered their price target on Gentex from $28.00 to $23.00 and set a “neutral” rating on the stock in a research note on Thursday, April 10th. Eight research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Gentex presently has an average rating of “Hold” and an average target price of $29.06.

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.