Rhumbline Advisers Sells 412 Shares of CTS Co. (NYSE:CTS)

Rhumbline Advisers decreased its position in shares of CTS Co. (NYSE:CTS) by 0.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 93,146 shares of the electronics maker’s stock after selling 412 shares during the quarter. Rhumbline Advisers’ holdings in CTS were worth $4,716,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Russell Investments Group Ltd. grew its holdings in CTS by 13.9% during the fourth quarter. Russell Investments Group Ltd. now owns 15,340 shares of the electronics maker’s stock worth $671,000 after buying an additional 1,871 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in CTS by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 351,491 shares of the electronics maker’s stock worth $15,374,000 after buying an additional 8,248 shares in the last quarter. Quadrant Capital Group LLC grew its holdings in 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 in the last quarter. Norges Bank bought a new stake in CTS during the fourth quarter worth $8,859,000. Finally, Franklin Resources Inc. grew its holdings in CTS by 0.6% during the fourth quarter. Franklin Resources Inc. now owns 69,086 shares of the electronics maker’s stock worth $3,022,000 after buying an additional 401 shares in the last quarter. Institutional investors own 96.87% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com upgraded CTS from a “hold” rating to a “buy” rating in a report on Tuesday, August 27th.

CTS Stock Up 2.8 %

CTS stock opened at $47.03 on Monday. The stock’s fifty day simple moving average is $48.67 and its two-hundred day simple moving average is $48.53. The company has a current ratio of 3.41, a quick ratio of 2.85 and a debt-to-equity ratio of 0.12. CTS Co. has a 1-year low of $35.50 and a 1-year high of $55.47. The stock has a market cap of $1.43 billion, a P/E ratio of 27.66 and a beta of 0.58.

CTS (NYSE:CTS) last issued its quarterly earnings results on Tuesday, July 30th. The electronics maker reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.01. CTS had a return on equity of 11.98% and a net margin of 10.70%. The firm had revenue of $130.16 million for the quarter, compared to analysts’ expectations of $133.33 million. During the same quarter in the prior year, the firm earned $0.59 EPS. The business’s revenue for the quarter was down 10.3% compared to the same quarter last year. Analysts expect that CTS Co. will post 2.15 EPS for the current year.

CTS Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, September 27th will be issued a dividend of $0.04 per share. The ex-dividend date is Friday, September 27th. This represents a $0.16 dividend on an annualized basis and a yield of 0.34%. CTS’s dividend payout ratio (DPR) is 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.