CTS (NYSE:CTS) Reaches New 1-Year High – Here’s Why

Shares of CTS Co. (NYSE:CTS) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $57.20 and last traded at $57.20, with a volume of 3834 shares traded. The stock had previously closed at $52.58.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CTS. StockNews.com downgraded shares of CTS from a “buy” rating to a “hold” rating in a report on Thursday. Scotiabank cut CTS from a “strong-buy” rating to a “hold” rating in a report on Friday, October 25th.

CTS Stock Down 1.4 %

The firm has a market cap of $1.74 billion, a price-to-earnings ratio of 30.35 and a beta of 0.58. The firm has a fifty day moving average price of $48.40 and a 200-day moving average price of $49.52. The company has a quick ratio of 1.91, a current ratio of 2.46 and a debt-to-equity ratio of 0.19.

CTS (NYSE:CTS) last released its quarterly earnings data on Tuesday, October 29th. The electronics maker reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.06. CTS had a return on equity of 12.39% and a net margin of 11.66%. The business had revenue of $132.42 million during the quarter. During the same quarter in the previous year, the company earned $0.54 earnings per share. As a group, sell-side analysts forecast that CTS Co. will post 2.15 EPS for the current year.

CTS Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, September 27th were given a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.28%. The ex-dividend date of this dividend was Friday, September 27th. CTS’s dividend payout ratio (DPR) is presently 8.25%.

Hedge Funds Weigh In On CTS

A number of institutional investors have recently added to or reduced their stakes in CTS. Vanguard Group Inc. increased its stake in shares of CTS by 1.2% in the first quarter. Vanguard Group Inc. now owns 2,805,735 shares of the electronics maker’s stock worth $131,280,000 after buying an additional 33,636 shares during the last quarter. Earnest Partners LLC raised its stake in CTS by 3.0% during the second quarter. Earnest Partners LLC now owns 1,735,534 shares of the electronics maker’s stock valued at $87,870,000 after buying an additional 50,632 shares in the last quarter. Tributary Capital Management LLC lifted its holdings in CTS by 0.3% during the 2nd quarter. Tributary Capital Management LLC now owns 308,078 shares of the electronics maker’s stock worth $15,598,000 after buying an additional 902 shares during the last quarter. Royce & Associates LP increased its holdings in shares of CTS by 5.4% in the 3rd quarter. Royce & Associates LP now owns 294,513 shares of the electronics maker’s stock valued at $14,249,000 after acquiring an additional 15,062 shares during the last quarter. Finally, Heartland Advisors Inc. lifted its stake in CTS by 1.7% during the first quarter. Heartland Advisors Inc. now owns 212,455 shares of the electronics maker’s stock worth $9,941,000 after purchasing an additional 3,509 shares during the last quarter. Institutional investors and hedge funds own 96.87% of the company’s stock.

CTS Company 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.