Touchstone Capital Inc. Invests $9.35 Million in Gentex Corporation $GNTX

Touchstone Capital Inc. bought a new position in Gentex Corporation (NASDAQ:GNTX) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 330,412 shares of the auto parts company’s stock, valued at approximately $9,351,000. Gentex accounts for approximately 4.8% of Touchstone Capital Inc.’s holdings, making the stock its 9th biggest position. Touchstone Capital Inc. owned about 0.15% of Gentex as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. CWM LLC boosted its holdings in Gentex by 5.1% in the third quarter. CWM LLC now owns 9,648 shares of the auto parts company’s stock worth $273,000 after purchasing an additional 467 shares during the period. Orion Porfolio Solutions LLC grew its stake in Gentex by 4.5% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 13,025 shares of the auto parts company’s stock worth $286,000 after buying an additional 562 shares during the last quarter. Nisa Investment Advisors LLC increased its position in Gentex by 0.4% in the second quarter. Nisa Investment Advisors LLC now owns 139,315 shares of the auto parts company’s stock worth $3,064,000 after buying an additional 614 shares during the period. Steph & Co. boosted its holdings in shares of Gentex by 30.5% during the third quarter. Steph & Co. now owns 2,684 shares of the auto parts company’s stock valued at $76,000 after acquiring an additional 627 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its position in shares of Gentex by 5.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 12,509 shares of the auto parts company’s stock worth $275,000 after acquiring an additional 634 shares during the last quarter. 86.76% of the stock is owned by institutional investors and hedge funds.

Gentex Trading Down 1.3%

Gentex stock opened at $23.98 on Wednesday. The company’s 50-day moving average is $23.33 and its two-hundred day moving average is $25.21. Gentex Corporation has a 1 year low of $20.28 and a 1 year high of $29.38. The company has a market cap of $5.25 billion, a PE ratio of 14.11 and a beta of 0.78.

Gentex (NASDAQ:GNTX) last posted its earnings results on Friday, October 24th. The auto parts company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.01). The company had revenue of $570.32 million for the quarter, compared to analyst estimates of $661.10 million. Gentex had a return on equity of 15.86% and a net margin of 15.61%.Gentex’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.53 earnings per share. Research analysts forecast that Gentex Corporation will post 2.04 EPS for the current year.

Gentex Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 21st. Shareholders of record on Wednesday, January 7th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Wednesday, January 7th. Gentex’s dividend payout ratio is 28.24%.

Analysts Set New Price Targets

GNTX has been the subject of a number of research analyst reports. Robert W. Baird set a $29.00 price target on shares of Gentex in a research note on Monday, October 27th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Gentex in a research note on Wednesday, October 8th. UBS Group restated a “neutral” rating and set a $29.00 price target (up from $28.00) on shares of Gentex in a report on Monday, October 6th. Zacks Research downgraded Gentex from a “strong-buy” rating to a “hold” rating in a report on Friday, September 19th. Finally, The Goldman Sachs Group set a $27.00 price objective on shares of Gentex and gave the stock a “neutral” rating in a report on Monday, October 27th. Two equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $28.29.

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).