CTS Co. (NYSE:CTS) Short Interest Update

CTS Co. (NYSE:CTS) was the target of a large decline in short interest in the month of August. As of August 31st, there was short interest totalling 835,700 shares, a decline of 8.3% from the August 15th total of 911,100 shares. Based on an average daily volume of 157,800 shares, the days-to-cover ratio is presently 5.3 days. Approximately 2.8% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

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

CTS Stock Up 0.4 %

Shares of CTS stock traded up $0.20 during trading on Wednesday, hitting $47.03. The company’s stock had a trading volume of 113,458 shares, compared to its average volume of 151,480. CTS has a 52 week low of $35.50 and a 52 week high of $55.47. The company has a market capitalization of $1.45 billion, a PE ratio of 27.41 and a beta of 0.58. The company has a fifty day simple moving average of $48.57 and a two-hundred day simple moving average of $48.55. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.85 and a current ratio of 3.41.

CTS (NYSE:CTS) last released its earnings results on Tuesday, July 30th. The electronics maker reported $0.54 earnings per share (EPS) 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 analyst estimates of $133.33 million. CTS had a net margin of 10.70% and a return on equity of 11.98%. The business’s revenue was down 10.3% on a year-over-year basis. During the same period last year, the business earned $0.59 earnings per share. Equities research analysts predict that CTS will post 2.15 earnings per share for the current year.

CTS Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, September 27th will be given a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.34%. The ex-dividend date is Friday, September 27th. CTS’s dividend payout ratio is presently 9.41%.

Institutional Trading of CTS

Institutional investors have recently bought and sold shares of the company. Wellington Management Group LLP increased 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 worth $58,787,000 after buying an additional 94,901 shares in the last quarter. Wasatch Advisors LP bought a new stake in shares of CTS during the 4th quarter valued at about $16,197,000. Tributary Capital Management LLC raised its position in CTS by 11.3% in the first quarter. Tributary Capital Management LLC now owns 307,176 shares of the electronics maker’s stock worth $14,373,000 after acquiring an additional 31,069 shares during the period. Raymond James & Associates increased its stake in shares of CTS by 55.1% in the 2nd quarter. Raymond James & Associates now owns 132,729 shares of the electronics maker’s stock worth $6,720,000 after purchasing an additional 47,149 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co lifted its position in CTS by 5.7% during the first quarter. CANADA LIFE ASSURANCE Co now owns 34,514 shares of the electronics maker’s stock valued at $1,616,000 after purchasing an additional 1,861 shares in the last quarter. 96.87% of the stock is owned by hedge funds and other institutional investors.

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.