Oppenheimer Asset Management Inc. Buys 2,667 Shares of CTS Co. (NYSE:CTS)

Oppenheimer Asset Management Inc. lifted its stake in CTS Co. (NYSE:CTS) by 11.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,607 shares of the electronics maker’s stock after acquiring an additional 2,667 shares during the quarter. Oppenheimer Asset Management Inc. owned 0.09% of CTS worth $1,347,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Innealta Capital LLC bought a new stake in CTS in the 2nd quarter worth approximately $27,000. Parallel Advisors LLC lifted 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 acquiring an additional 410 shares during the period. Central Pacific Bank Trust Division bought a new stake in shares of CTS during the 1st quarter valued at about $46,000. Quadrant Capital Group LLC increased its position in shares of CTS by 25.8% during the 4th quarter. Quadrant Capital Group LLC now owns 1,636 shares of the electronics maker’s stock valued at $72,000 after purchasing an additional 336 shares during the last quarter. Finally, Hantz Financial Services Inc. bought a new position in shares of CTS in the 2nd quarter worth approximately $157,000. 96.87% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of CTS from a “buy” rating to a “hold” rating in a research report on Monday.

CTS Price Performance

NYSE CTS opened at $47.03 on Thursday. The business’s fifty day moving average is $48.52 and its 200 day moving average is $48.54. CTS Co. has a fifty-two week low of $35.50 and a fifty-two week high of $55.47. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.85 and a current ratio of 3.41. The company has a market capitalization of $1.45 billion, a PE ratio of 27.66 and a beta of 0.58.

CTS (NYSE:CTS) last posted its quarterly earnings data on Tuesday, July 30th. The electronics maker reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.01. The firm had revenue of $130.16 million for the quarter, compared to analysts’ expectations 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 period in the previous year, the firm earned $0.59 EPS. Sell-side analysts predict that CTS Co. will post 2.15 earnings per share for the current 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 dividend of $0.04 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.16 annualized dividend and a dividend yield of 0.34%. CTS’s payout ratio is 9.41%.

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.