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

CTS Co. (NYSE:CTS) announced a quarterly dividend on Thursday, February 6th,RTT News reports. Stockholders of record on Friday, March 28th will be paid a dividend of 0.04 per share by the electronics maker on Friday, April 25th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.34%.

CTS has a dividend payout ratio of 5.9% meaning its dividend is sufficiently covered by earnings.

CTS Price Performance

Shares of NYSE CTS opened at $47.48 on Friday. CTS has a twelve month low of $42.20 and a twelve month high of $59.68. The company has a market cap of $1.43 billion, a PE ratio of 24.48 and a beta of 0.59. The business’s 50 day moving average price is $52.81 and its two-hundred day moving average price is $50.56. 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 (NYSE:CTS) last posted its earnings results on Tuesday, February 4th. The electronics maker reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.06). CTS had a return on equity of 12.39% and a net margin of 11.66%. On average, analysts predict that CTS will post 2.15 EPS for the current year.

Insider Buying and Selling

In related news, CEO Kieran M. O’sullivan sold 12,794 shares of CTS stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $55.50, for a total value of $710,067.00. Following the transaction, the chief executive officer now directly owns 400,456 shares of the company’s stock, valued at $22,225,308. This trade represents a 3.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold 59,956 shares of company stock valued at $3,331,185 over the last 90 days. 2.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Scotiabank lowered CTS from a “strong-buy” rating to a “hold” rating in a report on Friday, October 25th. StockNews.com upgraded shares of CTS from a “hold” rating to a “buy” rating in a research note on Saturday, February 1st.

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.