Bank of New York Mellon Corp Purchases 3,115 Shares of CTS Co. (NYSE:CTS)

Bank of New York Mellon Corp raised its position in CTS Co. (NYSE:CTS) by 1.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 282,737 shares of the electronics maker’s stock after buying an additional 3,115 shares during the period. Bank of New York Mellon Corp owned about 0.94% of CTS worth $14,909,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. KBC Group NV increased its position in shares of CTS by 58.2% during the 4th quarter. KBC Group NV now owns 1,713 shares of the electronics maker’s stock worth $90,000 after purchasing an additional 630 shares during the last quarter. Quest Partners LLC bought a new stake in shares of CTS during the 3rd quarter worth approximately $92,000. Atria Wealth Solutions Inc. bought a new position in shares of CTS in the 4th quarter valued at $214,000. Raymond James Trust N.A. raised its stake in CTS by 13.6% during the third quarter. Raymond James Trust N.A. now owns 5,587 shares of the electronics maker’s stock worth $270,000 after acquiring an additional 669 shares in the last quarter. Finally, Advisors Asset Management Inc. increased its holdings in shares of CTS by 53.0% during the third 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 in the last quarter. 96.87% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of CTS from a “hold” rating to a “buy” rating in a research note on Monday, March 3rd.

CTS Price Performance

CTS stock opened at $42.50 on Thursday. The company has a market capitalization of $1.28 billion, a P/E ratio of 22.37 and a beta of 0.57. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.95 and a current ratio of 2.50. CTS Co. has a 52-week low of $41.90 and a 52-week high of $59.68. The business has a 50-day simple moving average of $48.05 and a two-hundred day simple moving average of $49.98.

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

CTS Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, March 28th will be given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date is Friday, March 28th. CTS’s dividend payout ratio is currently 8.42%.

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.