CTS Co. (NYSE:CTS) Short Interest Down 7.5% in July

CTS Co. (NYSE:CTS) was the recipient of a significant decrease in short interest during the month of July. As of July 15th, there was short interest totalling 962,000 shares, a decrease of 7.5% from the June 30th total of 1,040,000 shares. Currently, 3.2% of the shares of the company are sold short. Based on an average daily trading volume, of 151,700 shares, the short-interest ratio is currently 6.3 days.

Insider Activity at CTS

In related news, SVP Martin Baumeister sold 5,733 shares of the stock in a transaction on Friday, May 24th. The stock was sold at an average price of $52.39, for a total value of $300,351.87. Following the completion of the transaction, the senior vice president now directly owns 19,811 shares of the company’s stock, valued at approximately $1,037,898.29. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.00% of the stock is owned by insiders.

Institutional Investors Weigh In On CTS

Several hedge funds have recently bought and sold shares of CTS. Wasatch Advisors LP grew its stake in shares of CTS by 160.3% during the first quarter. Wasatch Advisors LP now owns 963,954 shares of the electronics maker’s stock worth $45,103,000 after buying an additional 593,641 shares during the last quarter. Heartland Advisors Inc. bought a new position in shares of CTS during the 4th quarter valued at approximately $9,855,000. Norges Bank purchased a new stake in shares of CTS during the 4th quarter valued at approximately $8,859,000. Vanguard Group Inc. lifted its stake in CTS by 4.7% in the 3rd quarter. Vanguard Group Inc. now owns 2,729,923 shares of the electronics maker’s stock worth $113,947,000 after purchasing an additional 122,600 shares in the last quarter. Finally, Wellington Management Group LLP lifted its stake 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 purchasing an additional 94,901 shares in the last quarter. 96.87% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered CTS from a “buy” rating to a “hold” rating in a research note on Wednesday.

CTS Stock Down 1.2 %

Shares of NYSE:CTS traded down $0.59 during midday trading on Thursday, hitting $48.29. 251,375 shares of the stock were exchanged, compared to its average volume of 155,278. CTS has a 52-week low of $35.50 and a 52-week high of $55.47. The business’s fifty day simple moving average is $51.64 and its two-hundred day simple moving average is $47.71. The company has a market capitalization of $1.49 billion, a PE ratio of 28.78 and a beta of 0.60. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.71 and a current ratio of 3.41.

CTS (NYSE:CTS) last posted its quarterly earnings data on Tuesday, July 30th. The electronics maker reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.01. The firm had revenue of $130.16 million for the quarter, compared to the consensus estimate of $133.33 million. CTS had a return on equity of 11.98% and a net margin of 10.70%. The business’s revenue for the quarter was down 10.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.59 EPS. As a group, research analysts predict that CTS will post 2.22 earnings per share for the current fiscal year.

CTS Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 26th. Investors of record on Friday, June 28th were paid a $0.04 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $0.16 annualized dividend and a yield of 0.33%. CTS’s dividend payout ratio (DPR) is currently 9.41%.

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.