CTS Co. (NYSE:CTS) Shares Sold by Sage Investment Advisers LLC

Sage Investment Advisers LLC lowered its stake in shares of CTS Co. (NYSE:CTS) by 63.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,150 shares of the electronics maker’s stock after selling 21,400 shares during the quarter. Sage Investment Advisers LLC’s holdings in CTS were worth $568,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of CTS. Wellington Management Group LLP increased its holdings in CTS by 7.6% in the 4th quarter. Wellington Management Group LLP now owns 1,344,017 shares of the electronics maker’s stock worth $58,787,000 after buying an additional 94,901 shares during the period. Wasatch Advisors LP acquired a new position in CTS in the 4th quarter worth approximately $16,197,000. Heartland Advisors Inc. acquired a new stake in shares of CTS during the 4th quarter worth approximately $9,855,000. Deutsche Bank AG grew its stake in shares of CTS by 18.7% during the 3rd quarter. Deutsche Bank AG now owns 16,159 shares of the electronics maker’s stock worth $674,000 after purchasing an additional 2,541 shares during the period. Finally, State of New Jersey Common Pension Fund D grew its stake in shares of CTS by 21.0% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 63,888 shares of the electronics maker’s stock worth $2,794,000 after purchasing an additional 11,079 shares during the period. Institutional investors and hedge funds own 96.87% of the company’s stock.

CTS Stock Performance

Shares of NYSE CTS traded up $0.25 during midday trading on Thursday, reaching $50.42. 25,127 shares of the stock were exchanged, compared to its average volume of 150,390. CTS Co. has a twelve month low of $35.50 and a twelve month high of $54.73. The firm has a market cap of $1.55 billion, a price-to-earnings ratio of 29.51 and a beta of 0.60. The company has a quick ratio of 2.71, a current ratio of 3.32 and a debt-to-equity ratio of 0.13. The firm has a 50-day simple moving average of $50.54 and a two-hundred day simple moving average of $46.20.

CTS (NYSE:CTS) last announced its earnings results on Wednesday, May 1st. The electronics maker reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.06. The firm had revenue of $125.70 million for the quarter, compared to analyst estimates of $126.75 million. CTS had a return on equity of 12.39% and a net margin of 10.06%. The business’s revenue was down 13.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.61 EPS. As a group, analysts anticipate that CTS Co. will post 2.25 EPS 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 issued a dividend of $0.04 per share. The ex-dividend date is Friday, June 28th. This represents a $0.16 annualized dividend and a dividend yield of 0.32%. CTS’s dividend payout ratio is presently 9.41%.

Analyst Ratings Changes

Separately, StockNews.com cut shares of CTS from a “buy” rating to a “hold” rating in a research note on Thursday, June 6th.

Insider Transactions at CTS

In related news, SVP Martin Baumeister sold 5,733 shares of the firm’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $52.39, for a total transaction of $300,351.87. Following the completion of the sale, the senior vice president now directly owns 19,811 shares of the company’s stock, valued at approximately $1,037,898.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other CTS news, SVP Martin Baumeister sold 5,733 shares of CTS stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $52.39, for a total value of $300,351.87. Following the completion of the transaction, the senior vice president now directly owns 19,811 shares of the company’s stock, valued at approximately $1,037,898.29. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Ashish Agrawal sold 800 shares of CTS stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $47.00, for a total value of $37,600.00. Following the completion of the transaction, the chief financial officer now directly owns 127,977 shares of the company’s stock, valued at $6,014,919. The disclosure for this sale can be found here. Insiders have sold a total of 48,855 shares of company stock worth $2,330,290 in the last quarter. Company insiders own 2.00% of the company’s stock.

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.