First Mercantile Trust Co Lowers stake in Gentex Corporation (GNTX)

Gentex Corporation (GNTX) : First Mercantile Trust Co reduced its stake in Gentex Corporation by 18.84% during the most recent quarter end. The investment management company now holds a total of 77,980 shares of Gentex Corporation which is valued at $1,388,044 after selling 18,100 shares in Gentex Corporation , the firm said in a disclosure report filed with the SEC on Oct 7, 2016.Gentex Corporation makes up approximately 0.19% of First Mercantile Trust Co’s portfolio.

Other Hedge Funds, Including , Simplex Trading sold out all of its stake in GNTX during the most recent quarter. The investment firm sold 37,873 shares of GNTX which is valued $674,139.Independent Portfolio Consultants boosted its stake in GNTX in the latest quarter, The investment management firm added 45 additional shares and now holds a total of 22,150 shares of Gentex Corporation which is valued at $396,264. Gentex Corporation makes up approx 0.12% of Independent Portfolio Consultants’s portfolio.Bnp Paribas Arbitrage Sa reduced its stake in GNTX by selling 86,496 shares or 75.66% in the most recent quarter. The Hedge Fund company now holds 27,830 shares of GNTX which is valued at $497,879. Washington Trust Bank sold out all of its stake in GNTX during the most recent quarter. The investment firm sold 170 shares of GNTX which is valued $3,041.Eqis Capital Management boosted its stake in GNTX in the latest quarter, The investment management firm added 5,811 additional shares and now holds a total of 22,220 shares of Gentex Corporation which is valued at $397,516. Gentex Corporation makes up approx 0.03% of Eqis Capital Management’s portfolio.

Gentex Corporation closed down -0.11 points or -0.61% at $17.8 with 18,39,547 shares getting traded on Friday. Post opening the session at $17.89, the shares hit an intraday low of $17.625 and an intraday high of $17.96 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Gentex Corporation reported $0.30 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Jul 22, 2016. Analyst had a consensus of $0.29. The company had revenue of $423.80 million for the quarter, compared to analysts expectations of $416.74 million. The company’s revenue was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.26 EPS.

Gentex Corporation designs and manufactures automatic-dimming rearview mirrors and electronics for the automotive industry dimmable aircraft windows for the aviation industry and commercial smoke alarms and signaling devices for the fire protection industry. The Company’s business involves designing developing manufacturing and marketing interior and exterior auto-dimming automotive rearview mirrors that utilize electrochromic technology to dim in proportion to the amount of headlight glare from trailing vehicle headlamps. It also designs develops and manufactures various electronics features that are additive to the interior and exterior automotive rearview mirrors as well as interior visors and overhead consoles. The Company ships its product to all of the automotive producing regions across the world.

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