CTS Co. (NYSE:CTS) to Issue Quarterly Dividend of $0.04

CTS Co. (NYSE:CTS) declared a quarterly dividend on Thursday, November 7th,Zacks Dividends reports. Stockholders of record on Friday, December 27th will be given a dividend of 0.04 per share by the electronics maker on Friday, January 31st. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date of this dividend is Friday, December 27th.

CTS has a payout ratio of 6.8% meaning its dividend is sufficiently covered by earnings.

CTS Trading Up 1.0 %

Shares of CTS stock opened at $53.42 on Wednesday. The firm has a market capitalization of $1.61 billion, a PE ratio of 27.54 and a beta of 0.60. CTS has a 1 year low of $40.09 and a 1 year high of $59.68. The company has a current ratio of 2.46, a quick ratio of 1.91 and a debt-to-equity ratio of 0.19. The firm’s 50 day moving average is $53.22 and its 200 day moving average is $50.45.

CTS (NYSE:CTS) last released its quarterly earnings results on Tuesday, October 29th. The electronics maker reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.06. CTS had a return on equity of 12.39% and a net margin of 11.66%. The company had revenue of $132.42 million for the quarter. During the same quarter last year, the firm posted $0.54 earnings per share. Equities research analysts forecast that CTS will post 2.15 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Kieran M. O’sullivan sold 12,794 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $55.50, for a total transaction of $710,067.00. Following the transaction, the chief executive officer now directly owns 400,456 shares of the company’s stock, valued at approximately $22,225,308. This represents a 3.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders sold 59,956 shares of company stock worth $3,331,185. 2.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. StockNews.com lowered CTS from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Scotiabank downgraded CTS from a “strong-buy” rating to a “hold” rating in a report on Friday, October 25th.

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.