CTS Co. (CTS) to Issue Quarterly Dividend of $0.04 on April 26th

CTS Co. (NYSE:CTS) announced a quarterly dividend on Thursday, February 8th, Zacks reports. Shareholders of record on Thursday, March 28th will be paid a dividend of 0.04 per share by the electronics maker on Friday, April 26th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date of this dividend is Wednesday, March 27th.

CTS has a dividend payout ratio of 6.0% meaning its dividend is sufficiently covered by earnings. Analysts expect CTS to earn $2.70 per share next year, which means the company should continue to be able to cover its $0.16 annual dividend with an expected future payout ratio of 5.9%.

CTS Price Performance

CTS stock opened at $45.63 on Monday. The company has a current ratio of 3.29, a quick ratio of 2.67 and a debt-to-equity ratio of 0.13. The company has a fifty day simple moving average of $43.89 and a 200-day simple moving average of $41.89. The stock has a market cap of $1.40 billion, a P/E ratio of 23.77 and a beta of 0.61. CTS has a 12-month low of $35.50 and a 12-month high of $49.59.

CTS (NYSE:CTS) last announced its quarterly earnings results on Tuesday, February 6th. The electronics maker reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.01. The company had revenue of $124.69 million during the quarter, compared to the consensus estimate of $124.51 million. CTS had a return on equity of 13.41% and a net margin of 11.00%. CTS’s revenue for the quarter was down 12.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.56 EPS. Equities analysts expect that CTS will post 2.3 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently weighed in on CTS shares. Sidoti downgraded shares of CTS from a “buy” rating to a “neutral” rating and set a $46.00 price objective for the company. in a research report on Wednesday, February 7th. TD Cowen lifted their price objective on shares of CTS from $38.00 to $46.00 and gave the company a “market perform” rating in a research note on Wednesday, February 7th. Finally, StockNews.com downgraded shares of CTS from a “buy” rating to a “hold” rating in a research note on Friday, December 1st.

Hedge Funds Weigh In On CTS

Several institutional investors have recently bought and sold shares of the company. T. Rowe Price Investment Management Inc. boosted its holdings in shares of CTS by 5.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,331,200 shares of the electronics maker’s stock valued at $131,316,000 after acquiring an additional 162,871 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of CTS by 1.9% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 3,150,545 shares of the electronics maker’s stock valued at $107,276,000 after buying an additional 59,524 shares during the period. Vanguard Group Inc. boosted its stake in shares of CTS by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 2,772,099 shares of the electronics maker’s stock valued at $121,252,000 after buying an additional 42,176 shares in the last quarter. State Street Corp raised its position in CTS by 1.9% in the second quarter. State Street Corp now owns 1,097,019 shares of the electronics maker’s stock worth $37,397,000 after acquiring an additional 20,369 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in CTS by 2.6% in the second quarter. Geode Capital Management LLC now owns 652,788 shares of the electronics maker’s stock valued at $27,828,000 after acquiring an additional 16,793 shares during the period. 96.87% of the stock is 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.