CTS Co. (NYSE:CTS) Short Interest Update

CTS Co. (NYSE:CTS) was the recipient of a large decrease in short interest during the month of September. As of September 30th, there was short interest totalling 831,900 shares, a decrease of 7.6% from the September 15th total of 900,700 shares. Based on an average daily volume of 150,700 shares, the days-to-cover ratio is currently 5.5 days. Approximately 2.8% of the company’s stock are short sold.

CTS Stock Up 0.3 %

Shares of CTS stock traded up $0.14 during trading on Thursday, reaching $49.32. The company’s stock had a trading volume of 115,141 shares, compared to its average volume of 149,641. The company has a 50-day simple moving average of $47.49 and a two-hundred day simple moving average of $48.96. CTS has a 1-year low of $35.50 and a 1-year high of $55.47. The company has a market cap of $1.52 billion, a price-to-earnings ratio of 29.01 and a beta of 0.57. The company has a quick ratio of 2.85, a current ratio of 3.41 and a debt-to-equity ratio of 0.12.

CTS (NYSE:CTS) last issued its quarterly earnings results on Tuesday, July 30th. The electronics maker reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.01. CTS had a return on equity of 11.98% and a net margin of 10.70%. The business had revenue of $130.16 million for the quarter, compared to analyst estimates of $133.33 million. During the same quarter in the previous year, the firm earned $0.59 earnings per share. The company’s revenue was down 10.3% on a year-over-year basis. As a group, equities analysts forecast that CTS will post 2.15 earnings per share for the current year.

CTS Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, September 27th will be paid a dividend of $0.04 per share. The ex-dividend date is Friday, September 27th. This represents a $0.16 dividend on an annualized basis and a yield of 0.32%. CTS’s payout ratio is 9.41%.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of CTS from a “hold” rating to a “buy” rating in a report on Thursday, October 10th.

Institutional Investors Weigh In On CTS

Institutional investors and hedge funds have recently made changes to their positions in the stock. Wasatch Advisors LP lifted its holdings in shares of CTS by 160.3% during the first quarter. Wasatch Advisors LP now owns 963,954 shares of the electronics maker’s stock worth $45,103,000 after purchasing an additional 593,641 shares during the period. Wellington Management Group LLP lifted its stake in CTS by 7.6% during the 4th quarter. Wellington Management Group LLP now owns 1,344,017 shares of the electronics maker’s stock valued at $58,787,000 after acquiring an additional 94,901 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in CTS during the 2nd quarter valued at approximately $4,001,000. Marshall Wace LLP purchased a new stake in shares of CTS in the 2nd quarter valued at $2,662,000. Finally, Earnest Partners LLC increased its stake in shares of CTS by 3.0% in the second quarter. Earnest Partners LLC now owns 1,735,534 shares of the electronics maker’s stock worth $87,870,000 after acquiring an additional 50,632 shares during the period. 96.87% of the stock is currently owned by institutional investors and hedge funds.

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.