Quadrature Capital Ltd Purchases New Position in CTS Co. (NYSE:CTS)

Quadrature Capital Ltd acquired a new stake in shares of CTS Co. (NYSE:CTS) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 6,150 shares of the electronics maker’s stock, valued at approximately $269,000.

Several other large investors have also recently bought and sold shares of the company. Parallel Advisors LLC increased its position in shares of CTS by 245.5% in the 4th quarter. Parallel Advisors LLC now owns 577 shares of the electronics maker’s stock valued at $25,000 after buying an additional 410 shares in the last quarter. Quadrant Capital Group LLC increased its holdings in shares of CTS by 25.8% in the fourth quarter. Quadrant Capital Group LLC now owns 1,636 shares of the electronics maker’s stock worth $72,000 after acquiring an additional 336 shares in the last quarter. Handelsbanken Fonder AB acquired a new stake in shares of CTS during the fourth quarter worth about $209,000. Sendero Wealth Management LLC lifted its holdings in shares of CTS by 10.7% during the 4th quarter. Sendero Wealth Management LLC now owns 6,198 shares of the electronics maker’s stock valued at $271,000 after purchasing an additional 600 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its position in shares of CTS by 8.5% in the 3rd quarter. PNC Financial Services Group Inc. now owns 9,185 shares of the electronics maker’s stock valued at $383,000 after purchasing an additional 720 shares during the period. Institutional investors own 96.87% of the company’s stock.

Insider Buying and Selling at CTS

In other news, CFO Ashish Agrawal sold 800 shares of the firm’s 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 completion of the transaction, the chief financial officer now owns 127,977 shares in the company, valued at approximately $6,014,919. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other CTS news, CFO Ashish Agrawal sold 800 shares of the firm’s stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $47.00, for a total value of $37,600.00. Following the completion of the transaction, the chief financial officer now directly owns 127,977 shares in the company, valued at $6,014,919. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Kieran M. O’sullivan sold 2,064 shares of the business’s stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $47.00, for a total value of $97,008.00. Following the transaction, the chief executive officer now directly owns 499,498 shares in the company, valued at approximately $23,476,406. The disclosure for this sale can be found here. In the last three months, insiders have sold 48,855 shares of company stock worth $2,330,290. Insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of CTS from a “buy” rating to a “hold” rating in a report on Thursday, June 6th.

CTS Stock Performance

Shares of CTS stock opened at $50.17 on Thursday. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.32 and a quick ratio of 2.71. The firm has a market cap of $1.54 billion, a price-to-earnings ratio of 29.51 and a beta of 0.60. The stock’s 50-day moving average is $50.54 and its 200-day moving average is $46.20. CTS Co. has a one year low of $35.50 and a one year high of $54.73.

CTS (NYSE:CTS) last released its earnings results on Wednesday, May 1st. The electronics maker reported $0.47 EPS for the quarter, beating the consensus estimate of $0.41 by $0.06. The firm had revenue of $125.70 million for the quarter, compared to analysts’ expectations of $126.75 million. CTS had a return on equity of 12.39% and a net margin of 10.06%. The business’s quarterly revenue was down 13.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.61 EPS. Equities analysts predict that CTS Co. will post 2.25 earnings per share for the current fiscal year.

CTS Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, June 28th will be given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date of this dividend is Friday, June 28th. CTS’s dividend payout ratio (DPR) is currently 9.41%.

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.