Los Angeles Capital Management & Equity Research Inc. Has $1.12 Million Position in CTS Corporation (CTS)
Los Angeles Capital Management & Equity Research Inc. cut its stake in CTS Corporation (NYSE:CTS) by 17.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 52,606 shares of the electronics maker’s stock after selling 11,028 shares during the period. Los Angeles Capital Management & Equity Research Inc. owned 0.16% of CTS Corporation worth $1,121,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of CTS. Russell Investments Group Ltd. acquired a new position in shares of CTS Corporation during the fourth quarter worth approximately $3,331,000. Norges Bank purchased a new position in CTS Corporation during the fourth quarter worth about $9,041,000. Teachers Advisors LLC raised its position in CTS Corporation by 4.3% in the fourth quarter. Teachers Advisors LLC now owns 50,754 shares of the electronics maker’s stock worth $1,137,000 after buying an additional 2,094 shares during the last quarter. Bank of Montreal Can raised its position in CTS Corporation by 21.8% in the first quarter. Bank of Montreal Can now owns 6,304 shares of the electronics maker’s stock worth $134,000 after buying an additional 1,130 shares during the last quarter. Finally, Louisiana State Employees Retirement System raised its position in CTS Corporation by 0.8% in the first quarter. Louisiana State Employees Retirement System now owns 13,300 shares of the electronics maker’s stock worth $283,000 after buying an additional 100 shares during the period. 92.18% of the stock is currently owned by hedge funds and other institutional investors.
Shares of CTS Corporation (CTS) traded down 0.69% on Friday, reaching $21.55. The company’s stock had a trading volume of 62,241 shares. The company’s 50 day moving average is $21.46 and its 200-day moving average is $21.90. CTS Corporation has a 1-year low of $16.35 and a 1-year high of $24.80. The firm has a market cap of $707.94 million, a price-to-earnings ratio of 20.72 and a beta of 1.20.
CTS Corporation (NYSE:CTS) last issued its earnings results on Thursday, April 27th. The electronics maker reported $0.26 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.26. CTS Corporation had a net margin of 8.75% and a return on equity of 11.60%. The business had revenue of $100.10 million for the quarter, compared to analysts’ expectations of $100.72 million. During the same quarter in the previous year, the firm posted $0.26 EPS. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. Equities research analysts expect that CTS Corporation will post $1.16 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 28th. Shareholders of record on Friday, June 23rd will be issued a dividend of $0.04 per share. The ex-dividend date of this dividend is Wednesday, June 21st. This represents a $0.16 dividend on an annualized basis and a yield of 0.74%. CTS Corporation’s payout ratio is 15.24%.
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Separately, HSBC Holdings plc lowered CTS Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, June 8th.
CTS Corporation Company Profile
CTS Corporation is a manufacturer of sensors, electronic components and actuators. The Company designs, manufactures and sells a line of sensors, electronic components and actuators primarily to original equipment manufacturers (OEMs) for the transportation, industrial, medical, information technology, defense and aerospace, and communications markets.
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