CTS Co. (NYSE:CTS) Sees Significant Decrease in Short Interest

CTS Co. (NYSE:CTS) was the recipient of a large decrease in short interest in January. As of January 31st, there was short interest totalling 352,400 shares, a decrease of 8.4% from the January 15th total of 384,600 shares. Approximately 1.2% of the company’s shares are short sold. Based on an average daily trading volume, of 152,600 shares, the days-to-cover ratio is presently 2.3 days.

CTS Stock Performance

CTS stock opened at $46.72 on Wednesday. CTS has a twelve month low of $42.63 and a twelve month high of $59.68. The company has a quick ratio of 1.91, a current ratio of 2.50 and a debt-to-equity ratio of 0.17. The company has a market cap of $1.41 billion, a P/E ratio of 24.59 and a beta of 0.59. The business’s fifty day moving average is $51.41 and its 200-day moving average is $50.28.

CTS (NYSE:CTS) last released its earnings results on Tuesday, February 4th. The electronics maker reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.06). CTS had a net margin of 11.27% and a return on equity of 12.67%. Equities research analysts forecast that CTS will post 2.28 EPS for the current year.

CTS Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, March 28th will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.34%. The ex-dividend date of this dividend is Friday, March 28th. CTS’s payout ratio is presently 8.42%.

Insiders Place Their Bets

In other news, CEO Kieran M. O’sullivan sold 12,794 shares of the business’s 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 owns 400,456 shares in the company, valued at $22,225,308. The trade was a 3.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In the last quarter, insiders have sold 59,956 shares of company stock valued at $3,331,185. 2.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On CTS

Several hedge funds have recently bought and sold shares of the company. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in CTS during the 3rd quarter worth $1,890,000. Geode Capital Management LLC raised its position in shares of CTS by 4.3% during the third quarter. Geode Capital Management LLC now owns 806,180 shares of the electronics maker’s stock worth $39,010,000 after purchasing an additional 33,449 shares during the period. Royce & Associates LP lifted its holdings in shares of CTS by 5.4% during the 3rd quarter. Royce & Associates LP now owns 294,513 shares of the electronics maker’s stock valued at $14,249,000 after purchasing an additional 15,062 shares in the last quarter. Intech Investment Management LLC acquired a new position in shares of CTS in the 3rd quarter valued at approximately $1,719,000. Finally, Versor Investments LP bought a new stake in CTS during the 3rd quarter worth approximately $518,000. 96.87% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CTS. StockNews.com cut CTS from a “buy” rating to a “hold” rating in a report on Sunday, February 9th. Scotiabank downgraded shares of CTS from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 25th.

CTS Company 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.