Public Employees Retirement Association of Colorado Sells 1,143 Shares of CTS Co. (NYSE:CTS)

Public Employees Retirement Association of Colorado cut its holdings in CTS Co. (NYSE:CTS) by 18.7% during the 2nd quarter, Holdings Channel reports. The fund owned 4,965 shares of the electronics maker’s stock after selling 1,143 shares during the period. Public Employees Retirement Association of Colorado’s holdings in CTS were worth $251,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Wellington Management Group LLP raised its holdings in CTS by 7.6% in the 4th quarter. Wellington Management Group LLP now owns 1,344,017 shares of the electronics maker’s stock worth $58,787,000 after purchasing an additional 94,901 shares during the period. Wasatch Advisors LP purchased a new stake in CTS in the fourth quarter worth about $16,197,000. Tributary Capital Management LLC raised its stake in shares of CTS by 11.3% in the first quarter. Tributary Capital Management LLC now owns 307,176 shares of the electronics maker’s stock worth $14,373,000 after buying an additional 31,069 shares during the period. Raymond James & Associates lifted its position in shares of CTS by 55.1% during the 2nd quarter. Raymond James & Associates now owns 132,729 shares of the electronics maker’s stock valued at $6,720,000 after buying an additional 47,149 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co grew its stake in shares of CTS by 5.7% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 34,514 shares of the electronics maker’s stock valued at $1,616,000 after acquiring an additional 1,861 shares during the period. Hedge funds and other institutional investors own 96.87% of the company’s stock.

CTS Price Performance

NYSE:CTS opened at $48.38 on Friday. The business’s 50-day simple moving average is $47.82 and its two-hundred day simple moving average is $48.68. CTS Co. has a 52 week low of $35.50 and a 52 week high of $55.47. The stock has a market cap of $1.49 billion, a PE ratio of 28.46 and a beta of 0.58. The company has a quick ratio of 2.85, a current ratio of 3.41 and a debt-to-equity ratio of 0.12.

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

CTS Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors 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 dividend on an annualized basis and a dividend yield of 0.33%. CTS’s dividend payout ratio is 9.41%.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of CTS from a “buy” rating to a “hold” rating in a report on Monday, September 16th.

CTS 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.