Rhumbline Advisers Sells 740 Shares of CTS Co. (NYSE:CTS)

Rhumbline Advisers cut its stake in CTS Co. (NYSE:CTS) by 0.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 88,105 shares of the electronics maker’s stock after selling 740 shares during the quarter. Rhumbline Advisers owned approximately 0.29% of CTS worth $4,646,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. KBC Group NV raised its holdings in CTS by 58.2% in the 4th quarter. KBC Group NV now owns 1,713 shares of the electronics maker’s stock valued at $90,000 after acquiring an additional 630 shares during the period. Quest Partners LLC bought a new stake in CTS in the 3rd quarter valued at $92,000. Raymond James Trust N.A. grew its holdings in CTS by 13.6% in the 3rd quarter. Raymond James Trust N.A. now owns 5,587 shares of the electronics maker’s stock valued at $270,000 after buying an additional 669 shares in the last quarter. Advisors Asset Management Inc. increased its position in CTS by 53.0% during the 3rd quarter. Advisors Asset Management Inc. now owns 5,807 shares of the electronics maker’s stock worth $281,000 after buying an additional 2,011 shares during the period. Finally, Perpetual Ltd lifted its holdings in shares of CTS by 88.5% during the fourth quarter. Perpetual Ltd now owns 8,501 shares of the electronics maker’s stock worth $448,000 after buying an additional 3,991 shares in the last quarter. Institutional investors and hedge funds own 96.87% of the company’s stock.

CTS Stock Performance

NYSE CTS opened at $44.29 on Friday. The firm’s 50 day simple moving average is $50.00 and its 200 day simple moving average is $50.27. The firm has a market capitalization of $1.33 billion, a price-to-earnings ratio of 23.31 and a beta of 0.59. The company has a current ratio of 2.50, a quick ratio of 1.95 and a debt-to-equity ratio of 0.17. CTS Co. has a 1 year low of $42.63 and a 1 year high of $59.68.

CTS (NYSE:CTS) last issued its quarterly earnings results on Tuesday, February 4th. The electronics maker reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.06). CTS had a net margin of 11.27% and a return on equity of 12.67%. As a group, research analysts expect that CTS Co. will post 2.28 earnings per share for the current fiscal year.

CTS Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, March 28th will be issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.36%. The ex-dividend date of this dividend is Friday, March 28th. CTS’s dividend payout ratio (DPR) is presently 8.42%.

Insider Buying and Selling

In other CTS news, CEO Kieran M. O’sullivan sold 12,794 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $55.50, for a total transaction of $710,067.00. Following the sale, the chief executive officer now owns 400,456 shares of the company’s stock, valued at approximately $22,225,308. The trade was a 3.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 59,956 shares of company stock worth $3,331,185 in the last three months. 2.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Separately, StockNews.com lowered CTS from a “buy” rating to a “hold” rating in a report on Sunday, February 9th.

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.