Weiss Asset Management LP Makes New Investment in CTS Co. (NYSE:CTS)

Weiss Asset Management LP purchased a new position in shares of CTS Co. (NYSE:CTS) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 102,517 shares of the electronics maker’s stock, valued at approximately $4,960,000. Weiss Asset Management LP owned 0.34% of CTS as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the stock. Trust Point Inc. raised its stake in CTS by 2.1% during the third quarter. Trust Point Inc. now owns 12,861 shares of the electronics maker’s stock worth $622,000 after purchasing an additional 270 shares during the period. SummerHaven Investment Management LLC raised its stake in shares of CTS by 1.7% in the 2nd 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 period. AQR Capital Management LLC raised its stake in shares of CTS by 5.8% in the 2nd quarter. AQR Capital Management LLC now owns 5,637 shares of the electronics maker’s stock valued at $285,000 after acquiring an additional 308 shares during the period. GAMMA Investing LLC raised its stake in shares of CTS by 132.5% in the 3rd quarter. GAMMA Investing LLC now owns 586 shares of the electronics maker’s stock valued at $28,000 after acquiring an additional 334 shares during the period. Finally, The Manufacturers Life Insurance Company raised its stake in shares of CTS by 3.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,372 shares of the electronics maker’s stock valued at $778,000 after acquiring an additional 444 shares during the period. Hedge funds and other institutional investors own 96.87% of the company’s stock.

Insider Activity at CTS

In other CTS news, CEO Kieran M. O’sullivan sold 12,794 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $55.50, for a total value of $710,067.00. Following the completion of the sale, the chief executive officer now directly owns 400,456 shares of the company’s stock, valued at approximately $22,225,308. This represents a 3.10 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.00% of the stock is currently owned by insiders.

CTS Stock Performance

CTS stock opened at $54.83 on Friday. The stock’s fifty day moving average is $51.69 and its two-hundred day moving average is $50.36. The stock has a market capitalization of $1.65 billion, a price-to-earnings ratio of 28.26 and a beta of 0.60. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.91 and a current ratio of 2.46. CTS Co. has a 1 year low of $39.43 and a 1 year high of $59.68.

CTS (NYSE:CTS) last released its quarterly earnings results on Tuesday, October 29th. The electronics maker reported $0.63 EPS for the quarter, topping the consensus estimate of $0.57 by $0.06. The business had revenue of $132.42 million during the quarter. CTS had a net margin of 11.66% and a return on equity of 12.39%. During the same quarter in the prior year, the company posted $0.54 EPS. On average, research analysts predict that CTS Co. will post 2.15 EPS for the current year.

CTS Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, December 27th will be given a $0.04 dividend. The ex-dividend date of this dividend is Friday, December 27th. This represents a $0.16 dividend on an annualized basis and a yield of 0.29%. CTS’s dividend payout ratio is presently 8.25%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Scotiabank downgraded shares of CTS from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 25th. StockNews.com downgraded shares of CTS from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th.

CTS 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.