CTS Co. (NYSE:CTS) Shares Sold by Chartwell Investment Partners LLC

Chartwell Investment Partners LLC cut its holdings in shares of CTS Co. (NYSE:CTS) by 48.4% during the third quarter, Holdings Channel reports. The firm owned 123,142 shares of the electronics maker’s stock after selling 115,430 shares during the quarter. Chartwell Investment Partners LLC’s holdings in CTS were worth $5,958,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Pitcairn Co. increased its stake in CTS by 3.2% during the 1st quarter. Pitcairn Co. now owns 7,096 shares of the electronics maker’s stock worth $332,000 after buying an additional 222 shares during the period. Trust Point Inc. grew its stake in shares of CTS by 2.1% in the third quarter. Trust Point Inc. now owns 12,861 shares of the electronics maker’s stock worth $622,000 after acquiring an additional 270 shares in the last quarter. SummerHaven Investment Management LLC increased its position in shares of CTS by 1.7% during the second quarter. SummerHaven Investment Management LLC now owns 17,529 shares of the electronics maker’s stock worth $887,000 after acquiring an additional 285 shares during the period. AQR Capital Management LLC raised its stake in shares of CTS by 5.8% in the second quarter. AQR Capital Management LLC now owns 5,637 shares of the electronics maker’s stock valued at $285,000 after acquiring an additional 308 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in CTS by 132.5% in the third quarter. GAMMA Investing LLC now owns 586 shares of the electronics maker’s stock valued at $28,000 after purchasing an additional 334 shares during the period. Institutional investors and hedge funds own 96.87% of the company’s stock.

CTS Stock Performance

NYSE:CTS opened at $57.87 on Tuesday. The firm has a market capitalization of $1.74 billion, a PE ratio of 29.83 and a beta of 0.58. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.46 and a quick ratio of 1.91. The business’s fifty day moving average price is $48.57 and its 200 day moving average price is $49.67. CTS Co. has a 12 month low of $38.04 and a 12 month high of $59.68.

CTS (NYSE:CTS) last issued its earnings results on Tuesday, October 29th. The electronics maker reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.06. The business had revenue of $132.42 million for the quarter. CTS had a return on equity of 12.39% and a net margin of 11.66%. During the same period last year, the business posted $0.54 EPS. On average, sell-side analysts anticipate that CTS Co. will post 2.15 earnings per share for the current fiscal year.

CTS Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, December 27th will be issued a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.28%. The ex-dividend date of this dividend is Friday, December 27th. CTS’s payout ratio is 8.25%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CTS. StockNews.com downgraded CTS from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Scotiabank lowered shares of CTS from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 25th.

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.