CTS (NYSE:CTS) Hits New 1-Year High at $50.72

Shares of CTS Co. (NYSE:CTS) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $50.72 and last traded at $50.32, with a volume of 92381 shares. The stock had previously closed at $49.75.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CTS. Sidoti cut CTS from a “buy” rating to a “neutral” rating and set a $46.00 target price for the company. in a report on Wednesday, February 7th. TD Cowen raised their price objective on CTS from $38.00 to $46.00 and gave the company a “market perform” rating in a report on Wednesday, February 7th.

CTS Price Performance

The company has a market cap of $1.55 billion, a P/E ratio of 29.26 and a beta of 0.62. The company has a fifty day moving average price of $45.44 and a two-hundred day moving average price of $42.89. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.71 and a current ratio of 3.32.

CTS (NYSE:CTS) last issued its earnings results on Wednesday, May 1st. The electronics maker reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.06. CTS had a net margin of 10.06% and a return on equity of 12.39%. The business had revenue of $125.70 million during the quarter, compared to the consensus estimate of $126.75 million. During the same period last year, the business posted $0.61 EPS. CTS’s revenue was down 13.9% on a year-over-year basis. On average, sell-side analysts anticipate that CTS Co. will post 2.3 earnings per share for the current fiscal year.

CTS Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Thursday, March 28th were paid a $0.04 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $0.16 annualized dividend and a yield of 0.32%. CTS’s dividend payout ratio (DPR) is currently 9.41%.

Insider Activity at CTS

In related news, CFO Ashish Agrawal sold 4,504 shares of the firm’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $47.10, for a total value of $212,138.40. Following the completion of the sale, the chief financial officer now directly owns 128,777 shares in the company, valued at approximately $6,065,396.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other CTS news, CFO Ashish Agrawal sold 4,504 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $47.10, for a total transaction of $212,138.40. Following the completion of the sale, the chief financial officer now directly owns 128,777 shares in the company, valued at $6,065,396.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Kieran M. O’sullivan sold 14,976 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $47.13, for a total transaction of $705,818.88. Following the sale, the chief executive officer now owns 501,637 shares of the company’s stock, valued at $23,642,151.81. The disclosure for this sale can be found here. In the last ninety days, insiders sold 62,602 shares of company stock worth $2,947,896. Insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On CTS

Several hedge funds have recently bought and sold shares of CTS. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in CTS by 30.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,578 shares of the electronics maker’s stock worth $275,000 after acquiring an additional 1,525 shares during the last quarter. Annex Advisory Services LLC increased its holdings in shares of CTS by 43.1% during the third quarter. Annex Advisory Services LLC now owns 15,619 shares of the electronics maker’s stock worth $652,000 after purchasing an additional 4,708 shares during the period. Victory Capital Management Inc. increased its holdings in shares of CTS by 25.5% during the third quarter. Victory Capital Management Inc. now owns 17,461 shares of the electronics maker’s stock worth $729,000 after purchasing an additional 3,543 shares during the period. Illinois Municipal Retirement Fund bought a new position in shares of CTS during the third quarter worth approximately $774,000. Finally, Swiss National Bank increased its holdings in shares of CTS by 0.8% during the third quarter. Swiss National Bank now owns 65,900 shares of the electronics maker’s stock worth $2,751,000 after purchasing an additional 500 shares during the period. 96.87% of the stock is currently owned by institutional investors and hedge funds.

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.