AdvisorShares Investments LLC Invests $513,000 in CTS Co. (NYSE:CTS)

AdvisorShares Investments LLC bought a new stake in shares of CTS Co. (NYSE:CTS) during the 2nd quarter, according to its most recent filing with the SEC. The firm bought 10,452 shares of the electronics maker’s stock, valued at approximately $513,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Pitcairn Co. raised its stake in shares of CTS by 3.2% during the first quarter. Pitcairn Co. now owns 7,096 shares of the electronics maker’s stock valued at $332,000 after purchasing an additional 222 shares during the period. Azzad Asset Management Inc. ADV increased its stake in CTS by 2.2% during the 1st quarter. Azzad Asset Management Inc. ADV now owns 11,364 shares of the electronics maker’s stock worth $532,000 after buying an additional 249 shares during the period. SummerHaven Investment Management LLC boosted its position in CTS by 1.7% in the 2nd quarter. SummerHaven Investment Management LLC now owns 17,529 shares of the electronics maker’s stock valued at $887,000 after buying an additional 285 shares during the last quarter. Quadrant Capital Group LLC grew its stake in shares of CTS by 25.8% during the fourth quarter. Quadrant Capital Group LLC now owns 1,636 shares of the electronics maker’s stock valued at $72,000 after acquiring an additional 336 shares in the last quarter. Finally, Texas Permanent School Fund Corp increased its position in shares of CTS by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 27,269 shares of the electronics maker’s stock worth $1,276,000 after acquiring an additional 352 shares during the last quarter. 96.87% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded CTS from a “hold” rating to a “buy” rating in a research note on Tuesday, August 27th.

CTS Price Performance

CTS opened at $44.91 on Wednesday. The company has a market capitalization of $1.36 billion, a P/E ratio of 26.42 and a beta of 0.58. The company has a 50-day moving average of $48.88 and a 200-day moving average of $48.49. 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 Co. has a 1-year low of $35.50 and a 1-year high of $55.47.

CTS (NYSE:CTS) last announced its quarterly earnings data on Tuesday, July 30th. The electronics maker reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.01. CTS had a return on equity of 11.98% and a net margin of 10.70%. The firm had revenue of $130.16 million during the quarter, compared to analyst estimates of $133.33 million. During the same period in the previous year, the company earned $0.59 earnings per share. CTS’s quarterly revenue was down 10.3% on a year-over-year basis. Equities analysts expect that CTS Co. will post 2.15 EPS for the current fiscal year.

CTS Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, September 27th will be paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.36%. The ex-dividend date of this dividend is Friday, September 27th. CTS’s dividend payout ratio (DPR) is presently 9.41%.

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.