CTS Co. (NYSE:CTS) Short Interest Update

CTS Co. (NYSE:CTS) was the recipient of a large increase in short interest during the month of November. As of November 30th, there was short interest totalling 745,900 shares, an increase of 6.0% from the November 15th total of 703,500 shares. Currently, 2.5% of the shares of the stock are sold short. Based on an average trading volume of 141,500 shares, the days-to-cover ratio is currently 5.3 days.

CTS Trading Down 2.3 %

NYSE:CTS traded down $1.33 during midday trading on Tuesday, reaching $55.62. 197,290 shares of the stock traded hands, compared to its average volume of 149,377. The stock has a market capitalization of $1.68 billion, a P/E ratio of 28.67 and a beta of 0.60. CTS has a 12 month low of $40.09 and a 12 month high of $59.68. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.91 and a current ratio of 2.46. The company has a fifty day moving average of $52.71 and a 200 day moving average of $50.45.

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

CTS Announces Dividend

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

Analysts Set New Price Targets

CTS has been the topic of a number of recent research reports. StockNews.com cut shares of CTS from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Scotiabank downgraded CTS from a “strong-buy” rating to a “hold” rating in a report on Friday, October 25th.

Insider Activity

In other news, CEO Kieran M. O’sullivan sold 12,794 shares of the company’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $55.50, for a total value of $710,067.00. Following the completion of the transaction, the chief executive officer now directly owns 400,456 shares in the company, valued at approximately $22,225,308. This represents a 3.10 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last 90 days, insiders sold 59,956 shares of company stock worth $3,331,185. 2.00% of the stock is currently owned by insiders.

Institutional Trading of CTS

A number of hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC raised its stake in shares of CTS by 4.3% in the third quarter. Geode Capital Management LLC now owns 806,180 shares of the electronics maker’s stock worth $39,010,000 after purchasing an additional 33,449 shares during the last quarter. Barclays PLC increased its holdings in CTS by 256.1% in the 3rd quarter. Barclays PLC now owns 57,238 shares of the electronics maker’s stock worth $2,769,000 after buying an additional 41,164 shares in the last quarter. Weiss Asset Management LP purchased a new position in CTS in the 3rd quarter worth about $4,960,000. Wasatch Advisors LP boosted its holdings in shares of CTS by 23.1% during the 3rd quarter. Wasatch Advisors LP now owns 1,993,863 shares of the electronics maker’s stock valued at $96,463,000 after acquiring an additional 374,104 shares during the last quarter. Finally, Rockefeller Capital Management L.P. grew its stake in shares of CTS by 24.7% in the third quarter. Rockefeller Capital Management L.P. now owns 138,444 shares of the electronics maker’s stock worth $6,698,000 after acquiring an additional 27,455 shares during the period. 96.87% of the stock is owned by institutional investors.

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.