First Mercantile Trust Co. Has $200,000 Holdings in CTS Co. (CTS)
First Mercantile Trust Co. lessened its position in shares of CTS Co. (NYSE:CTS) by 26.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,762 shares of the electronics maker’s stock after selling 2,770 shares during the period. First Mercantile Trust Co.’s holdings in CTS were worth $200,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of CTS. Wedge Capital Management L L P NC grew its holdings in CTS by 35.6% during the 3rd quarter. Wedge Capital Management L L P NC now owns 60,150 shares of the electronics maker’s stock worth $1,450,000 after acquiring an additional 15,800 shares in the last quarter. SG Americas Securities LLC acquired a new position in CTS during the 3rd quarter worth approximately $387,000. Neuberger Berman Group LLC acquired a new position in CTS during the 3rd quarter worth approximately $209,000. Schwab Charles Investment Management Inc. grew its holdings in CTS by 5.3% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 160,295 shares of the electronics maker’s stock worth $4,128,000 after acquiring an additional 8,061 shares in the last quarter. Finally, Bessemer Group Inc. acquired a new position in CTS during the 4th quarter worth approximately $533,000. Institutional investors own 93.60% of the company’s stock.
Separately, ValuEngine cut shares of CTS from a “buy” rating to a “hold” rating in a report on Thursday, December 7th.
CTS (NYSE:CTS) last issued its quarterly earnings data on Tuesday, February 6th. The electronics maker reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.09. The business had revenue of $110.90 million during the quarter, compared to the consensus estimate of $106.82 million. CTS had a net margin of 3.42% and a return on equity of 12.16%. The company’s revenue was up 9.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.29 EPS. research analysts expect that CTS Co. will post 1.33 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 20th. Stockholders of record on Friday, March 16th will be given a dividend of $0.04 per share. The ex-dividend date of this dividend is Thursday, March 15th. This represents a $0.16 annualized dividend and a dividend yield of 0.62%. CTS’s dividend payout ratio is presently 37.21%.
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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