Wasatch Advisors LP Raises Stock Position in CTS Co. (NYSE:CTS)

Wasatch Advisors LP raised its stake in CTS Co. (NYSE:CTS) by 160.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 963,954 shares of the electronics maker’s stock after buying an additional 593,641 shares during the period. Wasatch Advisors LP owned approximately 3.14% of CTS worth $45,103,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. SummerHaven Investment Management LLC increased its holdings in CTS by 1.5% in the fourth quarter. SummerHaven Investment Management LLC now owns 17,022 shares of the electronics maker’s stock valued at $745,000 after buying an additional 255 shares in the last quarter. Quadrant Capital Group LLC increased its holdings in CTS by 25.8% in the fourth quarter. Quadrant Capital Group LLC now owns 1,636 shares of the electronics maker’s stock valued at $72,000 after buying an additional 336 shares in the last quarter. Franklin Resources Inc. increased its holdings in CTS by 0.6% in the fourth quarter. Franklin Resources Inc. now owns 69,086 shares of the electronics maker’s stock valued at $3,022,000 after buying an additional 401 shares in the last quarter. Parallel Advisors LLC increased its holdings in CTS by 245.5% in the fourth 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. Finally, Sendero Wealth Management LLC increased its holdings in CTS by 10.7% in the fourth quarter. Sendero Wealth Management LLC now owns 6,198 shares of the electronics maker’s stock valued at $271,000 after buying an additional 600 shares in the last quarter. 96.87% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at CTS

In other news, CFO Ashish Agrawal sold 800 shares of the company’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 transaction of $37,600.00. Following the completion of the transaction, the chief financial officer now directly owns 127,977 shares of the company’s stock, valued at $6,014,919. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Ashish Agrawal sold 800 shares of the 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 of the company’s stock, valued at approximately $6,014,919. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Kieran M. O’sullivan sold 2,064 shares of the stock in a transaction on Thursday, April 11th. The shares were 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 of the company’s stock, valued at $23,476,406. The disclosure for this sale can be found here. Insiders have sold 48,780 shares of company stock worth $2,326,765 over the last quarter. 2.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of CTS from a “hold” rating to a “buy” rating in a research report on Thursday, June 27th.

CTS Trading Up 0.6 %

Shares of CTS opened at $49.33 on Wednesday. The stock’s 50-day moving average is $51.01 and its two-hundred day moving average is $46.46. The stock has a market cap of $1.52 billion, a PE ratio of 29.02 and a beta of 0.60. CTS Co. has a 12 month low of $35.50 and a 12 month high of $54.73. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.32 and a quick ratio of 2.71.

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

CTS Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, June 28th will be paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.32%. The ex-dividend date is Friday, June 28th. CTS’s payout ratio 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.