CTS Co. (NYSE:CTS) Short Interest Down 7.5% in July

CTS Co. (NYSE:CTS) was the recipient of a large decline in short interest in July. As of July 15th, there was short interest totalling 962,000 shares, a decline of 7.5% from the June 30th total of 1,040,000 shares. Currently, 3.2% of the company’s stock are short sold. Based on an average daily volume of 151,700 shares, the days-to-cover ratio is presently 6.3 days.

CTS Trading Down 1.2 %

CTS stock traded down $0.59 on Thursday, hitting $48.29. 251,375 shares of the company were exchanged, compared to its average volume of 155,278. CTS has a twelve month low of $35.50 and a twelve month high of $55.47. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.41 and a quick ratio of 2.71. The business’s fifty day moving average is $51.64 and its two-hundred day moving average is $47.71. The stock has a market capitalization of $1.49 billion, a price-to-earnings ratio of 28.78 and a beta of 0.60.

CTS (NYSE:CTS) last announced its earnings results on Tuesday, July 30th. The electronics maker reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.01. The business had revenue of $130.16 million during the quarter, compared to the consensus estimate of $133.33 million. CTS had a net margin of 10.70% and a return on equity of 11.98%. The business’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.59 earnings per share. As a group, research analysts forecast that CTS will post 2.22 earnings per share for the current year.

CTS Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 26th. Investors of record on Friday, June 28th were given a $0.04 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $0.16 dividend on an annualized basis and a yield of 0.33%. CTS’s dividend payout ratio is presently 9.41%.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of CTS from a “buy” rating to a “hold” rating in a report on Wednesday.

Insider Transactions at CTS

In other CTS news, SVP Martin Baumeister sold 5,733 shares of the business’s stock in a transaction on Friday, May 24th. The shares were 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 in the company, valued at approximately $1,037,898.29. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On CTS

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of CTS by 4.7% in the third quarter. Vanguard Group Inc. now owns 2,729,923 shares of the electronics maker’s stock valued at $113,947,000 after purchasing an additional 122,600 shares during the period. Raymond James & Associates bought a new stake in CTS during the 4th quarter worth approximately $935,000. Trust Point Inc. bought a new stake in CTS during the 4th quarter worth approximately $393,000. Louisiana State Employees Retirement System acquired a new stake in shares of CTS in the 4th quarter valued at approximately $682,000. Finally, Handelsbanken Fonder AB bought a new position in CTS during the 4th quarter worth $209,000. Institutional investors own 96.87% of the company’s stock.

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.