Tributary Capital Management LLC Lowers Holdings in CTS Co. (NYSE:CTS)

Tributary Capital Management LLC lessened its stake in shares of CTS Co. (NYSE:CTS) by 0.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 306,128 shares of the electronics maker’s stock after selling 410 shares during the period. Tributary Capital Management LLC’s holdings in CTS were worth $16,142,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in CTS. GAMMA Investing LLC boosted its stake in CTS by 132.5% during the third quarter. GAMMA Investing LLC now owns 586 shares of the electronics maker’s stock valued at $28,000 after buying an additional 334 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in shares of CTS during the 2nd quarter valued at approximately $41,000. Quest Partners LLC bought a new position in shares of CTS during the 3rd quarter valued at approximately $92,000. Sei Investments Co. purchased a new position in shares of CTS in the second quarter valued at $263,000. Finally, Raymond James Trust N.A. increased its position in CTS by 13.6% in the third quarter. Raymond James Trust N.A. now owns 5,587 shares of the electronics maker’s stock worth $270,000 after purchasing an additional 669 shares during the last quarter. Hedge funds and other institutional investors own 96.87% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Scotiabank cut shares of CTS from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 25th. StockNews.com downgraded shares of CTS from a “buy” rating to a “hold” rating in a report on Friday.

Insider Buying and Selling

In other news, CEO Kieran M. O’sullivan sold 12,794 shares of CTS stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 400,456 shares in the company, valued at approximately $22,225,308. This trade represents a 3.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders sold 59,956 shares of company stock valued at $3,331,185. Insiders own 2.00% of the company’s stock.

CTS Stock Up 1.2 %

NYSE CTS opened at $52.16 on Friday. The company has a quick ratio of 1.91, a current ratio of 2.46 and a debt-to-equity ratio of 0.19. CTS Co. has a 52 week low of $40.92 and a 52 week high of $59.68. The firm has a market capitalization of $1.57 billion, a price-to-earnings ratio of 26.89 and a beta of 0.60. The company has a fifty day moving average of $53.42 and a two-hundred day moving average of $50.69.

CTS (NYSE:CTS) last released its quarterly earnings results on Tuesday, October 29th. The electronics maker reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.06. CTS had a net margin of 11.66% and a return on equity of 12.39%. The firm had revenue of $132.42 million during the quarter. During the same period in the prior year, the firm posted $0.54 earnings per share. On average, analysts predict that CTS Co. will post 2.15 earnings per share for the current year.

CTS Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, December 27th will be issued a $0.04 dividend. The ex-dividend date of this dividend is Friday, December 27th. This represents a $0.16 annualized dividend and a dividend yield of 0.31%. CTS’s payout ratio is 8.25%.

CTS 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.