Palo Capital buys $4,478,214 stake in Gentex Corporation (GNTX)

Gentex Corporation (GNTX) : Palo Capital scooped up 165,010 additional shares in Gentex Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 20, 2016. The investment management firm now holds a total of 254,444 shares of Gentex Corporation which is valued at $4,478,214.Gentex Corporation makes up approximately 1.48% of Palo Capital’s portfolio.

Other Hedge Funds, Including , Wealthtrust-arizona reduced its stake in GNTX by selling 1 shares or 0.09% in the most recent quarter. The Hedge Fund company now holds 1,075 shares of GNTX which is valued at $18,920. Gentex Corporation makes up approx 0.01% of Wealthtrust-arizona’s portfolio.Weaver C. Barksdale Associates boosted its stake in GNTX in the latest quarter, The investment management firm added 48 additional shares and now holds a total of 440 shares of Gentex Corporation which is valued at $6,987. Gentex Corporation makes up approx 0.01% of Weaver C. Barksdale Associates’s portfolio.

Gentex Corporation opened for trading at $16.15 and hit $16.265 on the upside on Wednesday, eventually ending the session at $16.19, with a gain of 0.81% or 0.13 points. The heightened volatility saw the trading volume jump to 15,63,478 shares. Company has a market cap of $4,676 M.

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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