CTS Co. (NYSE:CTS) Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC lessened its stake in shares of CTS Co. (NYSE:CTS) by 1.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 545,550 shares of the electronics maker’s stock after selling 7,500 shares during the quarter. Gabelli Funds LLC owned about 1.77% of CTS worth $27,621,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of CTS. Wasatch Advisors LP lifted its stake in shares of CTS by 160.3% in the 1st quarter. Wasatch Advisors LP now owns 963,954 shares of the electronics maker’s stock worth $45,103,000 after acquiring an additional 593,641 shares during the period. Norges Bank purchased a new stake in CTS in the 4th quarter valued at approximately $8,859,000. Wellington Management Group LLP boosted its holdings in CTS by 7.6% in the 4th quarter. Wellington Management Group LLP now owns 1,344,017 shares of the electronics maker’s stock valued at $58,787,000 after purchasing an additional 94,901 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in CTS during the 2nd quarter worth approximately $4,001,000. Finally, Fiduciary Management Inc. WI raised its stake in shares of CTS by 4.2% during the 4th quarter. Fiduciary Management Inc. WI now owns 1,187,171 shares of the electronics maker’s stock worth $51,927,000 after buying an additional 47,730 shares in the last quarter. 96.87% of the stock is owned by institutional investors and hedge funds.

CTS Trading Down 1.2 %

Shares of CTS opened at $47.99 on Monday. The firm’s 50-day moving average is $48.37 and its two-hundred day moving average is $48.62. CTS Co. has a twelve month low of $35.50 and a twelve month high of $55.47. The company has a current ratio of 3.41, a quick ratio of 2.85 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $1.48 billion, a P/E ratio of 28.23 and a beta of 0.58.

CTS (NYSE:CTS) last released its quarterly earnings data on Tuesday, July 30th. The electronics maker reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.01. The firm 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%. CTS’s quarterly revenue was down 10.3% on a year-over-year basis. During the same period last year, the business posted $0.59 EPS. On average, research analysts predict that CTS Co. will post 2.15 earnings per share for the current fiscal year.

CTS Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, September 27th will be given a $0.04 dividend. The ex-dividend date is Friday, September 27th. This represents a $0.16 annualized dividend and a dividend yield of 0.33%. CTS’s dividend payout ratio is presently 9.41%.

Analyst Ratings Changes

Separately, StockNews.com cut CTS from a “buy” rating to a “hold” rating in a research report on Monday, September 16th.

CTS Company Profile

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.