Raymond James & Associates Acquires 47,149 Shares of CTS Co. (NYSE:CTS)

Raymond James & Associates increased its holdings in shares of CTS Co. (NYSE:CTS) by 55.1% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 132,729 shares of the electronics maker’s stock after purchasing an additional 47,149 shares during the quarter. Raymond James & Associates owned 0.43% of CTS worth $6,720,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Pitcairn Co. increased its position in shares of CTS by 3.2% during the first quarter. Pitcairn Co. now owns 7,096 shares of the electronics maker’s stock worth $332,000 after acquiring an additional 222 shares in the last quarter. Azzad Asset Management Inc. ADV raised its stake in shares of CTS by 2.2% in the 1st quarter. Azzad Asset Management Inc. ADV now owns 11,364 shares of the electronics maker’s stock valued at $532,000 after purchasing an additional 249 shares during the period. SummerHaven Investment Management LLC lifted its holdings in shares of 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 purchasing an additional 255 shares in the last quarter. Quadrant Capital Group LLC boosted its position in shares of CTS by 25.8% during the fourth quarter. Quadrant Capital Group LLC now owns 1,636 shares of the electronics maker’s stock worth $72,000 after buying an additional 336 shares during the period. Finally, Texas Permanent School Fund Corp grew its holdings in shares of CTS by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 27,269 shares of the electronics maker’s stock worth $1,276,000 after buying an additional 352 shares in the last quarter. 96.87% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com raised CTS from a “hold” rating to a “buy” rating in a research report on Tuesday.

CTS Price Performance

NYSE:CTS opened at $48.98 on Wednesday. CTS Co. has a 52-week low of $35.50 and a 52-week high of $55.47. The company has a market cap of $1.51 billion, a P/E ratio of 28.81 and a beta of 0.59. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.71 and a current ratio of 3.41. The stock’s 50-day simple moving average is $49.54 and its 200 day simple moving average is $48.36.

CTS (NYSE:CTS) last posted its quarterly earnings results on Tuesday, July 30th. The electronics maker reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.01. The firm had revenue of $130.16 million for the quarter, compared to analyst estimates of $133.33 million. CTS had a return on equity of 11.98% and a net margin of 10.70%. The business’s quarterly revenue was down 10.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.59 EPS. As a group, sell-side analysts forecast that CTS Co. will post 2.15 EPS for the current fiscal year.

CTS Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, September 27th will be given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.33%. The ex-dividend date of this dividend is Friday, September 27th. CTS’s dividend payout ratio (DPR) is presently 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.