Intech Investment Management LLC Raises Stake in CTS Co. (NYSE:CTS)

Intech Investment Management LLC increased its stake in CTS Co. (NYSE:CTS) by 147.7% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 88,021 shares of the electronics maker’s stock after buying an additional 52,482 shares during the quarter. Intech Investment Management LLC’s holdings in CTS were worth $4,641,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CTS. Quest Partners LLC purchased a new stake in CTS during the third quarter valued at about $92,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in CTS during the third quarter valued at about $1,890,000. Advisors Asset Management Inc. lifted its holdings in CTS by 53.0% during the third quarter. Advisors Asset Management Inc. now owns 5,807 shares of the electronics maker’s stock valued at $281,000 after purchasing an additional 2,011 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in CTS by 2.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 385,602 shares of the electronics maker’s stock valued at $18,655,000 after purchasing an additional 9,674 shares during the last quarter. Finally, Raymond James Trust N.A. lifted its holdings in CTS by 13.6% during the third quarter. Raymond James Trust N.A. now owns 5,587 shares of the electronics maker’s stock valued at $270,000 after purchasing an additional 669 shares during the last quarter. 96.87% of the stock is owned by hedge funds and other institutional investors.

CTS Price Performance

NYSE CTS opened at $42.64 on Wednesday. The firm’s 50-day simple moving average is $47.27 and its two-hundred day simple moving average is $49.80. CTS Co. has a 52 week low of $41.23 and a 52 week high of $59.68. The company has a market cap of $1.28 billion, a PE ratio of 22.44 and a beta of 0.57. The company has a quick ratio of 1.95, a current ratio of 2.50 and a debt-to-equity ratio of 0.17.

CTS (NYSE:CTS) last announced its quarterly earnings results on Tuesday, February 4th. The electronics maker reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.06). CTS had a net margin of 11.27% and a return on equity of 12.67%. Research analysts predict that CTS Co. 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 $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.38%. The ex-dividend date is Friday, March 28th. CTS’s dividend payout ratio (DPR) is 8.42%.

Analyst Ratings Changes

Separately, StockNews.com raised shares of CTS from a “hold” rating to a “buy” rating in a report on Monday, March 3rd.

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.