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

CTS Co. (NYSE:CTS) declared a quarterly dividend on Thursday, May 9th, Zacks reports. Shareholders of record on Friday, June 28th will be given a dividend of 0.04 per share by the electronics maker on Friday, July 26th. This represents a $0.16 annualized dividend and a yield of 0.32%. The ex-dividend date of this dividend is Friday, June 28th.

CTS has a dividend payout ratio of 6.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect CTS to earn $2.60 per share next year, which means the company should continue to be able to cover its $0.16 annual dividend with an expected future payout ratio of 6.2%.

CTS Price Performance

Shares of NYSE:CTS opened at $50.17 on Thursday. The stock has a market capitalization of $1.54 billion, a P/E ratio of 29.51 and a beta of 0.60. The business has a 50-day moving average of $50.54 and a two-hundred day moving average of $46.20. CTS has a fifty-two week low of $35.50 and a fifty-two week high of $54.73. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.32 and a quick ratio of 2.71.

CTS (NYSE:CTS) last announced its earnings results on Wednesday, May 1st. The electronics maker reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.06. CTS had a return on equity of 12.39% and a net margin of 10.06%. The firm had revenue of $125.70 million during the quarter, compared to analysts’ expectations of $126.75 million. During the same quarter in the prior year, the business earned $0.61 earnings per share. The company’s revenue was down 13.9% on a year-over-year basis. On average, equities research analysts predict that CTS will post 2.25 EPS for the current fiscal year.

Insider Activity at CTS

In other news, SVP Martin Baumeister sold 5,733 shares of the business’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $52.39, for a total transaction of $300,351.87. Following the transaction, the senior vice president now owns 19,811 shares in the company, valued at approximately $1,037,898.29. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO Kieran M. O’sullivan sold 2,064 shares of the firm’s stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $47.00, for a total value of $97,008.00. Following the completion of the transaction, the chief executive officer now directly owns 499,498 shares of the company’s stock, valued at $23,476,406. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Martin Baumeister sold 5,733 shares of the stock in a transaction on Friday, May 24th. The shares were sold at an average price of $52.39, for a total transaction of $300,351.87. Following the completion of the transaction, the senior vice president now owns 19,811 shares of the company’s stock, valued at approximately $1,037,898.29. The disclosure for this sale can be found here. Insiders sold a total of 48,855 shares of company stock worth $2,330,290 in the last ninety days. 2.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of CTS from a “buy” rating to a “hold” rating in a report on Thursday, June 6th.

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.