Front Street Capital Management Lowers stake in Gentex Corporation (GNTX)

Gentex Corporation (GNTX) : Front Street Capital Management reduced its stake in Gentex Corporation by 0.58% during the most recent quarter end. The investment management company now holds a total of 539,089 shares of Gentex Corporation which is valued at $9,299,285 after selling 3,138 shares in Gentex Corporation , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Gentex Corporation makes up approximately 4.22% of Front Street Capital Management’s portfolio.

Other Hedge Funds, Including , Arrowstreet Capital Limited Partnership added GNTX to its portfolio by purchasing 1,649,179 company shares during the most recent quarter which is valued at $28,448,338. Gentex Corporation makes up approx 0.10% of Arrowstreet Capital Limited Partnership’s portfolio.Swiss National Bank reduced its stake in GNTX by selling 12,100 shares or 2.52% in the most recent quarter. The Hedge Fund company now holds 467,400 shares of GNTX which is valued at $7,852,320. Gentex Corporation makes up approx 0.01% of Swiss National Bank’s portfolio.Tocqueville Asset Management reduced its stake in GNTX by selling 45,000 shares or 5.71% in the most recent quarter. The Hedge Fund company now holds 743,450 shares of GNTX which is valued at $12,326,401. Gentex Corporation makes up approx 0.16% of Tocqueville Asset Management’s portfolio.Ftb Advisors boosted its stake in GNTX in the latest quarter, The investment management firm added 157 additional shares and now holds a total of 3,444 shares of Gentex Corporation which is valued at $58,238. Gentex Corporation makes up approx 0.01% of Ftb Advisors’s portfolio.

Gentex Corporation closed down -0.03 points or -0.17% at $18.01 with 32,22,274 shares getting traded on Monday. Post opening the session at $17.97, the shares hit an intraday low of $17.92 and an intraday high of $18.1 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Gentex Corporation reported $0.32 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Oct 20, 2016. Analyst had a consensus of $0.30. The company had revenue of $429.60 million for the quarter, compared to analysts expectations of $428.43 million. The company’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.27 EPS.

Many Wall Street Analysts have commented on Gentex Corporation. Company shares were Reiterated by FBR & Co. on Oct 21, 2016 to “Outperform”, Firm has raised the Price Target to $ 22 from a previous price target of $20 .

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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