SummerHaven Investment Management LLC Purchases 255 Shares of CTS Co. (NYSE:CTS)

SummerHaven Investment Management LLC increased its position in CTS Co. (NYSE:CTS) by 1.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,022 shares of the electronics maker’s stock after purchasing an additional 255 shares during the quarter. SummerHaven Investment Management LLC owned approximately 0.05% of CTS worth $745,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CTS. Handelsbanken Fonder AB acquired a new stake in shares of CTS during the 4th quarter worth approximately $209,000. Sendero Wealth Management LLC grew its holdings in CTS by 10.7% during the 4th quarter. Sendero Wealth Management LLC now owns 6,198 shares of the electronics maker’s stock worth $271,000 after acquiring an additional 600 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of CTS by 30.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,578 shares of the electronics maker’s stock valued at $275,000 after purchasing an additional 1,525 shares during the period. Campbell & CO Investment Adviser LLC bought a new position in shares of CTS in the 3rd quarter worth $332,000. Finally, PNC Financial Services Group Inc. grew its stake in shares of CTS by 8.5% during the third quarter. PNC Financial Services Group Inc. now owns 9,185 shares of the electronics maker’s stock worth $383,000 after purchasing an additional 720 shares during the period. 96.87% of the stock is owned by institutional investors.

Insider Transactions at CTS

In related news, CFO Ashish Agrawal sold 800 shares of the business’s stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $47.00, for a total value of $37,600.00. Following the sale, the chief financial officer now directly owns 127,977 shares of the company’s stock, valued at approximately $6,014,919. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Kieran M. O’sullivan sold 2,064 shares of the company’s stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $47.00, for a total transaction of $97,008.00. Following the completion of the transaction, the chief executive officer now directly owns 499,498 shares of the company’s stock, valued at $23,476,406. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Ashish Agrawal sold 800 shares of the stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $47.00, for a total value of $37,600.00. Following the transaction, the chief financial officer now owns 127,977 shares of the company’s stock, valued at $6,014,919. The disclosure for this sale can be found here. Insiders sold 22,419 shares of company stock valued at $1,056,090 over the last quarter. Corporate insiders own 2.30% of the company’s stock.

CTS Price Performance

CTS opened at $47.00 on Tuesday. The company has a fifty day simple moving average of $45.11 and a 200 day simple moving average of $42.60. The company has a quick ratio of 2.67, a current ratio of 3.29 and a debt-to-equity ratio of 0.13. The stock has a market cap of $1.44 billion, a P/E ratio of 24.48 and a beta of 0.61. CTS Co. has a 12 month low of $35.50 and a 12 month high of $47.90.

CTS (NYSE:CTS) last released its quarterly earnings results on Tuesday, February 6th. The electronics maker reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.01. CTS had a return on equity of 13.41% and a net margin of 11.00%. The company had revenue of $124.69 million for the quarter, compared to analyst estimates of $124.51 million. During the same quarter last year, the firm posted $0.56 earnings per share. CTS’s revenue was down 12.4% compared to the same quarter last year. On average, research analysts expect that CTS Co. will post 2.3 EPS for the current year.

CTS Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Thursday, March 28th were issued a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.34%. The ex-dividend date of this dividend was Wednesday, March 27th. CTS’s dividend payout ratio (DPR) is presently 8.33%.

Analyst Ratings Changes

CTS has been the topic of several analyst reports. Sidoti lowered CTS from a “buy” rating to a “neutral” rating and set a $46.00 target price on the stock. in a research note on Wednesday, February 7th. TD Cowen increased their price target on shares of CTS from $38.00 to $46.00 and gave the company a “market perform” rating in a research report on Wednesday, February 7th.

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.