CTS Co. (NYSE:CTS) Short Interest Update

CTS Co. (NYSE:CTS) was the recipient of a large decline in short interest in the month of October. As of October 15th, there was short interest totalling 776,100 shares, a decline of 6.7% from the September 30th total of 831,900 shares. Based on an average daily volume of 145,300 shares, the short-interest ratio is presently 5.3 days. Currently, 2.6% of the shares of the company are sold short.

Analysts Set New Price Targets

Several research firms recently issued reports on CTS. StockNews.com upgraded shares of CTS from a “hold” rating to a “buy” rating in a research note on Thursday, October 10th. Scotiabank lowered shares of CTS from a “strong-buy” rating to a “hold” rating in a report on Friday, October 25th.

Institutional Investors Weigh In On CTS

A number of large investors have recently modified their holdings of CTS. Innealta Capital LLC purchased a new stake in shares of CTS during the second quarter worth $27,000. GAMMA Investing LLC grew its holdings in shares of CTS by 132.5% during the third quarter. GAMMA Investing LLC now owns 586 shares of the electronics maker’s stock worth $28,000 after buying an additional 334 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of CTS during the second quarter worth $41,000. Central Pacific Bank Trust Division purchased a new stake in shares of CTS during the first quarter worth $46,000. Finally, Hantz Financial Services Inc. purchased a new stake in shares of CTS during the second quarter worth $157,000. Hedge funds and other institutional investors own 96.87% of the company’s stock.

CTS Price Performance

Shares of NYSE CTS opened at $50.76 on Thursday. The firm has a market cap of $1.56 billion, a PE ratio of 29.86 and a beta of 0.57. The firm has a fifty day moving average of $47.81 and a 200 day moving average of $49.15. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.85 and a current ratio of 3.41. CTS has a one year low of $35.50 and a one year high of $55.47.

CTS (NYSE:CTS) last issued its quarterly earnings results on Tuesday, October 29th. The electronics maker reported $0.63 EPS for the quarter, topping the consensus estimate of $0.57 by $0.06. The company had revenue of $132.42 million during the quarter. CTS had a net margin of 10.70% and a return on equity of 11.98%. During the same period in the previous year, the firm posted $0.54 EPS. As a group, research analysts predict that CTS will post 2.15 EPS for the current fiscal year.

CTS Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, September 27th were issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.32%. The ex-dividend date was Friday, September 27th. CTS’s payout ratio is 9.41%.

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.