KLP Kapitalforvaltning AS Acquires New Holdings in CTS Co. (NYSE:CTS)

KLP Kapitalforvaltning AS purchased a new position in CTS Co. (NYSE:CTS) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 6,300 shares of the electronics maker’s stock, valued at approximately $332,000.

A number of other large investors have also made changes to their positions in the business. Smartleaf Asset Management LLC grew its stake in CTS by 608.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 737 shares of the electronics maker’s stock worth $39,000 after buying an additional 633 shares during the last quarter. KBC Group NV boosted its holdings in CTS by 58.2% in the fourth quarter. KBC Group NV now owns 1,713 shares of the electronics maker’s stock worth $90,000 after acquiring an additional 630 shares in the last quarter. Envestnet Portfolio Solutions Inc. purchased a new stake in shares of CTS during the fourth quarter worth about $202,000. Corient Private Wealth LLC acquired a new position in shares of CTS during the fourth quarter valued at about $214,000. Finally, Atria Wealth Solutions Inc. purchased a new position in shares of CTS in the 4th quarter valued at approximately $214,000. 96.87% of the stock is owned by institutional investors and hedge funds.

CTS Stock Performance

Shares of CTS stock opened at $36.05 on Friday. The business has a fifty day moving average of $44.73 and a 200 day moving average of $49.36. CTS Co. has a 1 year low of $34.02 and a 1 year high of $59.68. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.50 and a quick ratio of 1.95. The firm has a market capitalization of $1.08 billion, a price-to-earnings ratio of 18.98 and a beta of 0.57.

CTS (NYSE:CTS) last announced its quarterly earnings data 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 return on equity of 12.67% and a net margin of 11.27%. As a group, research analysts expect that CTS Co. will post 2.28 earnings per share for the current year.

CTS Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, March 28th will be issued a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.44%. The ex-dividend date is Friday, March 28th. CTS’s dividend payout ratio (DPR) is currently 8.42%.

Wall Street Analysts Forecast Growth

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

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.