Rhumbline Advisers Has $4.72 Million Stock Position in CTS Co. (NYSE:CTS)

Rhumbline Advisers reduced its stake in CTS Co. (NYSE:CTS) by 0.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 93,146 shares of the electronics maker’s stock after selling 412 shares during the quarter. Rhumbline Advisers owned about 0.30% of CTS worth $4,716,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Pitcairn Co. lifted its stake in shares of CTS by 3.2% in the first quarter. Pitcairn Co. now owns 7,096 shares of the electronics maker’s stock worth $332,000 after acquiring an additional 222 shares during the period. Azzad Asset Management Inc. ADV lifted its stake in shares of CTS by 2.2% in the first quarter. Azzad Asset Management Inc. ADV now owns 11,364 shares of the electronics maker’s stock worth $532,000 after acquiring an additional 249 shares during the period. SummerHaven Investment Management LLC lifted its stake in shares of CTS by 1.7% in the second quarter. SummerHaven Investment Management LLC now owns 17,529 shares of the electronics maker’s stock worth $887,000 after acquiring an additional 285 shares during the period. Quadrant Capital Group LLC lifted its stake in shares of CTS by 25.8% in the fourth quarter. Quadrant Capital Group LLC now owns 1,636 shares of the electronics maker’s stock worth $72,000 after acquiring an additional 336 shares during the period. Finally, Texas Permanent School Fund Corp increased its holdings in CTS by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 27,269 shares of the electronics maker’s stock worth $1,276,000 after purchasing an additional 352 shares in the last quarter. 96.87% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded CTS from a “hold” rating to a “buy” rating in a report on Tuesday, August 27th.

CTS Trading Up 2.8 %

Shares of CTS stock opened at $47.03 on Monday. The company has a market cap of $1.43 billion, a P/E ratio of 27.66 and a beta of 0.58. The stock has a 50 day simple moving average of $48.67 and a two-hundred day simple moving average of $48.53. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.85 and a current ratio of 3.41. CTS Co. has a fifty-two week low of $35.50 and a fifty-two week high of $55.47.

CTS (NYSE:CTS) last issued its earnings results on Tuesday, July 30th. The electronics maker reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.01. The business had revenue of $130.16 million during the quarter, compared to the consensus estimate of $133.33 million. CTS had a return on equity of 11.98% and a net margin of 10.70%. The firm’s revenue for the quarter was down 10.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.59 earnings per share. Research analysts forecast that CTS Co. will post 2.15 earnings per share for the current year.

CTS Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, September 27th will be issued a dividend of $0.04 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.16 annualized dividend and a dividend yield of 0.34%. CTS’s dividend payout ratio is 9.41%.

About CTS

CTS Corporation manufactures and sells sensors, actuators, and connectivity components in North America, Europe, and Asia. The company provides encoders, rotary position sensors, slide potentiometers, industrial and commercial rotary potentiometers. It also provides non-contacting, and contacting pedals; and eBrake pedals.