CTS Co. (NYSE:CTS) Short Interest Down 6.7% in October

CTS Co. (NYSE:CTS) was the recipient of a significant drop in short interest in October. As of October 15th, there was short interest totalling 776,100 shares, a drop of 6.7% from the September 30th total of 831,900 shares. Based on an average daily trading volume, of 145,300 shares, the short-interest ratio is currently 5.3 days. Currently, 2.6% of the shares of the stock are short sold.

Institutional Trading of CTS

Hedge funds and other institutional investors have recently bought and sold shares of the business. Pitcairn Co. grew its stake in shares of CTS by 3.2% in the 1st quarter. Pitcairn Co. now owns 7,096 shares of the electronics maker’s stock worth $332,000 after acquiring an additional 222 shares in the last quarter. Azzad Asset Management Inc. ADV lifted its position in shares of CTS by 2.2% during the 1st quarter. Azzad Asset Management Inc. ADV now owns 11,364 shares of the electronics maker’s stock worth $532,000 after buying an additional 249 shares in the last quarter. Trust Point Inc. boosted its stake in shares of CTS by 2.1% in the 3rd quarter. Trust Point Inc. now owns 12,861 shares of the electronics maker’s stock worth $622,000 after buying an additional 270 shares during the last quarter. SummerHaven Investment Management LLC increased its position in shares of CTS by 1.7% during the second quarter. SummerHaven Investment Management LLC now owns 17,529 shares of the electronics maker’s stock valued at $887,000 after acquiring an additional 285 shares during the last quarter. Finally, AQR Capital Management LLC lifted its holdings in CTS by 5.8% during the second quarter. AQR Capital Management LLC now owns 5,637 shares of the electronics maker’s stock worth $285,000 after acquiring an additional 308 shares during the period. Institutional investors own 96.87% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CTS. Scotiabank lowered CTS from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 25th. StockNews.com upgraded CTS from a “hold” rating to a “buy” rating in a report on Thursday, October 10th.

CTS Trading Up 2.5 %

Shares of NYSE:CTS traded up $1.25 during trading on Friday, reaching $50.74. The stock had a trading volume of 18,149 shares, compared to its average volume of 148,549. CTS has a 52 week low of $37.60 and a 52 week high of $55.47. The firm’s fifty day moving average is $47.85 and its 200 day moving average is $49.15. The stock has a market cap of $1.53 billion, a price-to-earnings ratio of 25.53 and a beta of 0.57. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.85 and a current ratio of 2.46.

CTS (NYSE:CTS) last issued its earnings results on Tuesday, October 29th. The electronics maker reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.06. The business had revenue of $132.42 million during the quarter. CTS had a return on equity of 12.39% and a net margin of 11.66%. During the same quarter in the previous year, the firm posted $0.54 earnings per share. As a group, equities analysts forecast that CTS will post 2.15 EPS for the current fiscal year.

CTS Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, September 27th were paid a $0.04 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.16 dividend on an annualized basis and a yield of 0.32%. CTS’s dividend payout ratio (DPR) is presently 8.25%.

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.