BNP Paribas Financial Markets Acquires 2,514 Shares of CTS Co. (NYSE:CTS)

BNP Paribas Financial Markets boosted its holdings in CTS Co. (NYSE:CTS) by 22.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,477 shares of the electronics maker’s stock after purchasing an additional 2,514 shares during the quarter. BNP Paribas Financial Markets’ holdings in CTS were worth $652,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CTS. Innealta Capital LLC bought a new position in shares of CTS in the 2nd quarter valued at about $27,000. GAMMA Investing LLC lifted its stake in shares of CTS by 132.5% in the 3rd quarter. GAMMA Investing LLC now owns 586 shares of the electronics maker’s stock valued at $28,000 after purchasing an additional 334 shares during the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of CTS in the 2nd quarter worth approximately $41,000. Quest Partners LLC bought a new position in shares of CTS during the 3rd quarter valued at approximately $92,000. Finally, Hantz Financial Services Inc. purchased a new stake in CTS during the 2nd quarter valued at $157,000. 96.87% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Kieran M. O’sullivan sold 31,978 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $55.81, for a total value of $1,784,692.18. Following the transaction, the chief executive officer now directly owns 423,665 shares in the company, valued at approximately $23,644,743.65. This represents a 7.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold 59,956 shares of company stock worth $3,331,185 over the last three months. Insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on CTS shares. Scotiabank lowered CTS from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 25th. StockNews.com lowered CTS from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th.

CTS Trading Down 0.6 %

CTS stock opened at $56.31 on Friday. CTS Co. has a 52 week low of $39.43 and a 52 week high of $59.68. The stock has a 50-day moving average price of $52.36 and a 200 day moving average price of $50.44. The company has a quick ratio of 1.91, a current ratio of 2.46 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $1.70 billion, a price-to-earnings ratio of 29.03 and a beta of 0.60.

CTS (NYSE:CTS) last issued its earnings results on Tuesday, October 29th. The electronics maker reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.06. The firm had revenue of $132.42 million for the quarter. CTS had a return on equity of 12.39% and a net margin of 11.66%. During the same quarter in the previous year, the company earned $0.54 EPS. Sell-side analysts anticipate that CTS Co. will post 2.15 EPS for the current year.

CTS Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, December 27th will be issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date is Friday, December 27th. CTS’s payout ratio is 8.25%.

CTS 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.