Riverhead Capital Management Has Raised Its Westlake Chemical (WLK) Stake by $354,410; Gentex (GNTX) Valuation Declined While Sprucegrove Investment Management LTD Boosted Holding

December 30, 2017 - By Adrian Mccoy

Riverhead Capital Management Llc increased its stake in Westlake Chemical Corp (WLK) by 52.46% based on its latest 2017Q3 regulatory filing with the SEC. Riverhead Capital Management Llc bought 4,270 shares as the company’s stock rose 1.98% with the market. The institutional investor held 12,410 shares of the major chemicals company at the end of 2017Q3, valued at $1.03M, up from 8,140 at the end of the previous reported quarter. Riverhead Capital Management Llc who had been investing in Westlake Chemical Corp for a number of months, seems to be bullish on the $13.75 billion market cap company. The stock increased 0.08% or $0.09 during the last trading session, reaching $106.53. About 468,614 shares traded. Westlake Chemical Corporation (NYSE:WLK) has risen 45.05% since December 30, 2016 and is uptrending. It has outperformed by 28.35% the S&P500.

Sprucegrove Investment Management Ltd increased its stake in Gentex Corp (GNTX) by 34.52% based on its latest 2017Q3 regulatory filing with the SEC. Sprucegrove Investment Management Ltd bought 309,800 shares as the company’s stock declined 8.68% while stock markets rallied. The institutional investor held 1.21M shares of the o.e.m. company at the end of 2017Q3, valued at $23.91M, up from 897,500 at the end of the previous reported quarter. Sprucegrove Investment Management Ltd who had been investing in Gentex Corp for a number of months, seems to be bullish on the $5.95 billion market cap company. The stock decreased 0.52% or $0.11 during the last trading session, reaching $20.95. About 1.24 million shares traded. Gentex Corporation (NASDAQ:GNTX) has risen 19.63% since December 30, 2016 and is uptrending. It has outperformed by 2.93% the S&P500.

Since August 7, 2017, it had 0 insider purchases, and 3 selling transactions for $4.39 million activity. Downing Steven R also sold $157,582 worth of Gentex Corporation (NASDAQ:GNTX) on Wednesday, September 27. 239,400 shares valued at $4.15 million were sold by BAUER FRED on Monday, August 7.

Sprucegrove Investment Management Ltd, which manages about $24.66 billion and $1.78 billion US Long portfolio, decreased its stake in Carnival Corp (NYSE:CCL) by 5,700 shares to 238,842 shares, valued at $15.42M in 2017Q3, according to the filing. It also reduced its holding in Markel Corp (NYSE:MKL) by 2,500 shares in the quarter, leaving it with 59,807 shares, and cut its stake in Microsoft Corp (NASDAQ:MSFT).

Among 6 analysts covering Gentex Corp (NASDAQ:GNTX), 4 have Buy rating, 0 Sell and 2 Hold. Therefore 67% are positive. Gentex Corp had 14 analyst reports since October 20, 2015 according to SRatingsIntel. Robert W. Baird upgraded Gentex Corporation (NASDAQ:GNTX) on Thursday, August 24 to “Outperform” rating. The firm has “Buy” rating given on Monday, November 13 by KeyBanc Capital Markets. KeyBanc Capital Markets maintained Gentex Corporation (NASDAQ:GNTX) rating on Thursday, October 12. KeyBanc Capital Markets has “Buy” rating and $25.0 target. The firm earned “Neutral” rating on Monday, December 19 by Susquehanna. The stock has “Buy” rating by Robert W. Baird on Friday, October 20. The company was maintained on Friday, October 21 by FBR Capital. Robert W. Baird downgraded Gentex Corporation (NASDAQ:GNTX) on Wednesday, January 27 to “Neutral” rating. The firm has “Hold” rating given on Monday, July 24 by Craig Hallum. The stock of Gentex Corporation (NASDAQ:GNTX) earned “Buy” rating by KeyBanc Capital Markets on Wednesday, August 23. The firm earned “Buy” rating on Wednesday, July 19 by FBR Capital.

Investors sentiment increased to 1.24 in Q3 2017. Its up 0.32, from 0.92 in 2017Q2. It improved, as 35 investors sold GNTX shares while 109 reduced holdings. 41 funds opened positions while 137 raised stakes. 224.48 million shares or 0.88% less from 226.47 million shares in 2017Q2 were reported. Palo Cap has invested 1.6% of its portfolio in Gentex Corporation (NASDAQ:GNTX). The North Carolina-based Sterling Capital Management Ltd Company has invested 0.88% in Gentex Corporation (NASDAQ:GNTX). Country Trust Fincl Bank owns 1.35 million shares or 1.21% of their US portfolio. Boston Private Wealth Ltd Liability Company stated it has 0.02% in Gentex Corporation (NASDAQ:GNTX). Ellington Mngmt Group Llc accumulated 23,000 shares or 0.08% of the stock. Crawford Inv Counsel Inc accumulated 0.04% or 56,060 shares. South Dakota Investment Council holds 0.06% or 161,500 shares. Yorktown Mngmt And Co Inc holds 0.09% of its portfolio in Gentex Corporation (NASDAQ:GNTX) for 18,000 shares. 93,002 were reported by Paloma Prtn. Highland Cap Mgmt Limited Liability accumulated 183,005 shares or 0.29% of the stock. 23 were accumulated by Spectrum Mngmt Grp Inc. First Quadrant Lp Ca invested in 1.04 million shares or 0.4% of the stock. State Board Of Administration Of Florida Retirement has 440,613 shares for 0.02% of their portfolio. Catalyst Cap Ltd Llc accumulated 0.16% or 188,139 shares. Winfield Assoc Inc reported 70 shares stake.

Since August 15, 2017, it had 0 insider buys, and 1 insider sale for $968,620 activity.

Investors sentiment increased to 1.38 in Q3 2017. Its up 0.23, from 1.15 in 2017Q2. It improved, as 21 investors sold WLK shares while 61 reduced holdings. 55 funds opened positions while 58 raised stakes. 37.12 million shares or 5.60% less from 39.33 million shares in 2017Q2 were reported. Parametric Portfolio Limited Company owns 74,480 shares for 0.01% of their portfolio. 12,906 were accumulated by Nomura. Caxton Assoc Lp invested 0.31% of its portfolio in Westlake Chemical Corporation (NYSE:WLK). Ameritas accumulated 7,600 shares. Zacks Management has invested 0.04% in Westlake Chemical Corporation (NYSE:WLK). Moreover, Denver Inv Ltd Liability Co has 0.09% invested in Westlake Chemical Corporation (NYSE:WLK) for 21,941 shares. Barclays Public Ltd Llc owns 54,987 shares. Utah Retirement Sys invested 0.01% of its portfolio in Westlake Chemical Corporation (NYSE:WLK). The Iowa-based Principal Gru has invested 0% in Westlake Chemical Corporation (NYSE:WLK). Aviva Public invested 0.01% in Westlake Chemical Corporation (NYSE:WLK). Renaissance Technologies Ltd Co invested in 0.01% or 83,100 shares. Verity Asset Management invested in 2,614 shares or 0.17% of the stock. Sg Americas Securities Ltd has invested 0.01% of its portfolio in Westlake Chemical Corporation (NYSE:WLK). The California-based California Public Employees Retirement Sys has invested 0.01% in Westlake Chemical Corporation (NYSE:WLK). 299,853 are owned by Geode Mgmt Limited.

Riverhead Capital Management Llc, which manages about $2.13 billion US Long portfolio, decreased its stake in Financial Select Sector Spdr Fund (XLF) by 29,800 shares to 87,841 shares, valued at $2.27M in 2017Q3, according to the filing. It also reduced its holding in Leidos Holdings Inc (NYSE:LDOS) by 13,298 shares in the quarter, leaving it with 34,590 shares, and cut its stake in Procter & Gamble Co/The (NYSE:PG).