Gentex said on February 28, 2023 that its board of directors declared a regular quarterly dividend of $0.12 per share ($0.48 annualized). Previously, the company paid $0.12 per share.
Shares must be purchased before the ex-div date of April 5, 2023 to qualify for the dividend. Shareholders of record as of April 7, 2023 will receive the payment on April 19, 2023.
At the current share price of $28.75 / share, the stock's dividend yield is 1.67%. Looking back five years and taking a sample every week, the average dividend yield has been 1.73%, the lowest has been 1.29%, and the highest has been 2.39%. The standard deviation of yields is 0.25 (n=235).
The current dividend yield is 0.24 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.35. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.04%, demonstrating that it has increased its dividend over time.
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Analyst Price Forecast Suggests 14.86% Upside
As of March 4, 2023, the average one-year price target for Gentex is $33.02. The forecasts range from a low of $27.27 to a high of $36.75. The average price target represents an increase of 14.86% from its latest reported closing price of $28.75.
The projected annual revenue for Gentex is $2,257MM, an increase of 17.62%. The projected annual non-GAAP EPS is $1.86.
What is the Fund Sentiment?
There are 896 funds or institutions reporting positions in Gentex. This is an increase of 11 owner(s) or 1.24% in the last quarter. Average portfolio weight of all funds dedicated to GNTX is 0.29%, an increase of 9.65%. Total shares owned by institutions increased in the last three months by 0.61% to 230,218K shares. The put/call ratio of GNTX is 0.53, indicating a bullish outlook.
What are large shareholders doing?
Ariel Investments holds 8,852K shares representing 3.78% ownership of the company. In it's prior filing, the firm reported owning 9,227K shares, representing a decrease of 4.23%. The firm increased its portfolio allocation in GNTX by 1.49% over the last quarter.
EdgePoint Investment Group holds 8,621K shares representing 3.68% ownership of the company. In it's prior filing, the firm reported owning 8,610K shares, representing an increase of 0.13%. The firm increased its portfolio allocation in GNTX by 9.16% over the last quarter.
IJH - iShares Core S&P Mid-Cap ETF holds 7,244K shares representing 3.09% ownership of the company. In it's prior filing, the firm reported owning 6,871K shares, representing an increase of 5.15%. The firm increased its portfolio allocation in GNTX by 5.26% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 7,135K shares representing 3.05% ownership of the company. In it's prior filing, the firm reported owning 6,993K shares, representing an increase of 1.99%. The firm increased its portfolio allocation in GNTX by 7.78% over the last quarter.
NAESX - Vanguard Small-Cap Index Fund Investor Shares holds 6,044K shares representing 2.58% ownership of the company. In it's prior filing, the firm reported owning 5,970K shares, representing an increase of 1.22%. The firm increased its portfolio allocation in GNTX by 7.20% over the last quarter.
Gentex Background Information
(This description is provided by the company.)
Founded in 1974, Gentex Corporation is a leading supplier of digital vision, connected car, dimmable glass and fire protection technologies.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
