CTS Co. (NYSE:CTS) Short Interest Update

CTS Co. (NYSE:CTS) saw a significant drop in short interest during the month of June. As of June 15th, there was short interest totalling 1,000,000 shares, a drop of 10.7% from the May 31st total of 1,120,000 shares. Currently, 3.3% of the shares of the company are short sold. Based on an average daily trading volume, of 147,500 shares, the short-interest ratio is currently 6.8 days.

CTS Trading Up 1.2 %

Shares of CTS stock traded up $0.58 on Wednesday, hitting $49.87. The stock had a trading volume of 53,941 shares, compared to its average volume of 151,463. The stock has a 50 day moving average of $51.01 and a 200 day moving average of $46.46. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.71 and a current ratio of 3.32. CTS has a twelve month low of $35.50 and a twelve month high of $54.73. The firm has a market capitalization of $1.54 billion, a P/E ratio of 29.02 and a beta of 0.60.

CTS (NYSE:CTS) last released its quarterly earnings results on Wednesday, May 1st. The electronics maker reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.06. CTS had a net margin of 10.06% and a return on equity of 12.39%. The firm had revenue of $125.70 million during the quarter, compared to the consensus estimate of $126.75 million. During the same quarter last year, the firm earned $0.61 earnings per share. The company’s revenue for the quarter was down 13.9% on a year-over-year basis. Sell-side analysts expect that CTS will post 2.25 earnings per share for the current fiscal year.

CTS Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, June 28th will be paid a $0.04 dividend. The ex-dividend date is Friday, June 28th. This represents a $0.16 annualized dividend and a dividend yield of 0.32%. CTS’s payout ratio is 9.41%.

Insider Activity

In related news, CEO Kieran M. O’sullivan sold 27,905 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $47.11, for a total value of $1,314,604.55. Following the sale, the chief executive officer now owns 455,643 shares in the company, valued at approximately $21,465,341.73. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Kieran M. O’sullivan sold 27,905 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $47.11, for a total transaction of $1,314,604.55. Following the transaction, the chief executive officer now directly owns 455,643 shares of the company’s stock, valued at $21,465,341.73. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Martin Baumeister sold 5,733 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $52.39, for a total transaction of $300,351.87. Following the transaction, the senior vice president now directly owns 19,811 shares in the company, valued at $1,037,898.29. The disclosure for this sale can be found here. Insiders sold a total of 48,780 shares of company stock valued at $2,326,765 over the last three months. Insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On CTS

A number of hedge funds have recently made changes to their positions in the stock. Pitcairn Co. increased its position in CTS by 3.2% during the 1st quarter. Pitcairn Co. now owns 7,096 shares of the electronics maker’s stock valued at $332,000 after purchasing an additional 222 shares during the period. CANADA LIFE ASSURANCE Co increased its position in shares of CTS by 5.7% during the first quarter. CANADA LIFE ASSURANCE Co now owns 34,514 shares of the electronics maker’s stock worth $1,616,000 after buying an additional 1,861 shares during the period. Vanguard Group Inc. increased its position in shares of CTS by 1.2% during the first quarter. Vanguard Group Inc. now owns 2,805,735 shares of the electronics maker’s stock worth $131,280,000 after buying an additional 33,636 shares during the period. ProShare Advisors LLC raised its stake in CTS by 7.4% during the first quarter. ProShare Advisors LLC now owns 6,250 shares of the electronics maker’s stock worth $292,000 after buying an additional 428 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in CTS by 54.8% in the first quarter. Russell Investments Group Ltd. now owns 23,745 shares of the electronics maker’s stock valued at $1,111,000 after buying an additional 8,405 shares during the period. 96.87% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised CTS from a “hold” rating to a “buy” rating in a research note on Thursday, June 27th.

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.