CTS Co. (NYSE:CTS) Short Interest Update

CTS Co. (NYSE:CTS) was the recipient of a significant decline in short interest in January. As of January 31st, there was short interest totalling 352,400 shares, a decline of 8.4% from the January 15th total of 384,600 shares. Based on an average daily trading volume, of 152,600 shares, the days-to-cover ratio is presently 2.3 days. Approximately 1.2% of the shares of the stock are short sold.

Insider Activity at CTS

In other news, CEO Kieran M. O’sullivan sold 12,794 shares of the 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 transaction, the chief executive officer now owns 400,456 shares in the company, valued at $22,225,308. This trade represents a 3.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold a total of 59,956 shares of company stock worth $3,331,185 over the last three months. 2.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On CTS

Institutional investors and hedge funds have recently bought and sold shares of the stock. Quarry LP raised its holdings in shares of CTS by 572.4% in the fourth quarter. Quarry LP now owns 659 shares of the electronics maker’s stock worth $35,000 after acquiring an additional 561 shares during the last quarter. Smartleaf Asset Management LLC increased its position in CTS by 608.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 737 shares of the electronics maker’s stock worth $39,000 after purchasing an additional 633 shares in the last quarter. KBC Group NV raised its stake in CTS by 58.2% in the 4th quarter. KBC Group NV now owns 1,713 shares of the electronics maker’s stock valued at $90,000 after purchasing an additional 630 shares during the last quarter. Quest Partners LLC purchased a new position in CTS in the 3rd quarter valued at about $92,000. Finally, Envestnet Portfolio Solutions Inc. acquired a new stake in shares of CTS during the 4th quarter worth about $202,000. Hedge funds and other institutional investors own 96.87% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. StockNews.com cut shares of CTS from a “buy” rating to a “hold” rating in a report on Sunday, February 9th. Scotiabank cut CTS from a “strong-buy” rating to a “hold” rating in a report on Friday, October 25th.

CTS Price Performance

Shares of CTS stock traded up $0.49 during mid-day trading on Tuesday, reaching $46.72. The stock had a trading volume of 117,036 shares, compared to its average volume of 142,321. The company has a market cap of $1.41 billion, a P/E ratio of 24.59 and a beta of 0.59. The company has a current ratio of 2.50, a quick ratio of 1.91 and a debt-to-equity ratio of 0.17. CTS has a 12-month low of $42.63 and a 12-month high of $59.68. The business has a 50-day simple moving average of $51.41 and a 200 day simple moving average of $50.28.

CTS (NYSE:CTS) last issued its quarterly earnings data on Tuesday, February 4th. The electronics maker reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.06). CTS had a net margin of 11.27% and a return on equity of 12.67%. On average, sell-side analysts anticipate that CTS will post 2.28 earnings per share for the current year.

CTS Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, March 28th will be given a dividend of $0.04 per share. The ex-dividend date is Friday, March 28th. This represents a $0.16 annualized dividend and a dividend yield of 0.34%. CTS’s dividend payout ratio is currently 8.42%.

About CTS

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.