Dimensional Fund Advisors Reports 5% Passive Stake In Gentex, 10,550,621 Shares
The SEC filing says the shares sit in Dimensional-advised funds and were not bought to influence control of the mirror maker.
Dimensional Fund Advisors holds 10,550,621 Gentex shares, or 5% of the common stock, according to a Schedule 13G passive ownership filing with an event date of September 30. The filing certifies the stake is held in the ordinary course of business, not to change or influence control.
What the filing says
Dimensional Fund Advisors LP, based in Austin, Texas, reports sole voting power over 10,333,047 of the shares and shared voting power over none.
The filing says all the reported securities are owned by funds Dimensional advises or manages, and that Dimensional disclaims beneficial ownership of them. To Dimensional's knowledge, no single fund's interest exceeds 5% of the class.
The filer's signed certification says the shares were not acquired and are not held to change or influence control of Gentex, which is based in Zeeland, Michigan.
What it changes
Crossing 5% is what triggers the filing. Because it is a passive 13G rather than an activist disclosure, the document states no plan to seek influence over the company.
Gentex, which makes automatic-dimming rearview mirrors, has drawn fund interest this year even as the stock pulled back about 5% year to date. Palm Valley Capital Fund said it bought shares in the third quarter.
In Thursday trading, as of 2:39 p.m. ET, Gentex shares were at $21.10, up 0.09% from the prior close of $21.08, for a market value of $4.4 billion. The 52-week range was $20.48 to $27.65 as of early October.
The filing's own line on intent is the one to hold onto: the shares are held in the ordinary course of business, with no purpose of influencing control.
Sources
- SCHEDULE 13G — Dimensional Fund Advisors LP re: Gentex Corp (GNTX) — SEC EDGAR
- What Makes Gentex’s (GNTX) an Attractive bet? — Yahoo Finance
