Chartwell Investment Partners LLC Trims Holdings in CTS Co. (NYSE:CTS)

Chartwell Investment Partners LLC lessened its holdings in CTS Co. (NYSE:CTS) by 48.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 123,142 shares of the electronics maker’s stock after selling 115,430 shares during the quarter. Chartwell Investment Partners LLC owned about 0.41% of CTS worth $5,958,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Innealta Capital LLC acquired a new stake in shares of CTS in the second quarter worth $27,000. GAMMA Investing LLC grew its position in CTS by 132.5% during the 3rd quarter. GAMMA Investing LLC now owns 586 shares of the electronics maker’s stock worth $28,000 after purchasing an additional 334 shares during the period. Canada Pension Plan Investment Board purchased a new position in shares of CTS during the 2nd quarter valued at about $41,000. Hantz Financial Services Inc. purchased a new stake in shares of CTS in the second quarter worth about $157,000. Finally, Summit Trail Advisors LLC purchased a new stake in shares of CTS in the second quarter worth about $214,000. 96.87% of the stock is owned by hedge funds and other institutional investors.

CTS Price Performance

Shares of NYSE CTS opened at $57.87 on Tuesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.91 and a current ratio of 2.46. The firm has a fifty day moving average of $48.57 and a 200 day moving average of $49.67. The firm has a market cap of $1.74 billion, a PE ratio of 29.83 and a beta of 0.58. CTS Co. has a one year low of $38.04 and a one year high of $59.68.

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 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 quarter last year, the company earned $0.54 EPS. As a group, research analysts predict that CTS Co. will post 2.15 EPS for the current fiscal year.

CTS Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, December 27th will be given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.28%. The ex-dividend date is Friday, December 27th. CTS’s payout ratio is 8.25%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Scotiabank downgraded CTS from a “strong-buy” rating to a “hold” rating in a report on Friday, October 25th. StockNews.com cut shares of CTS from a “buy” rating to a “hold” rating in a report on Thursday, November 7th.

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.