CTS Co. (NYSE:CTS) Short Interest Update

CTS Co. (NYSE:CTS) was the recipient of a large drop in short interest in the month of August. As of August 31st, there was short interest totalling 835,700 shares, a drop of 8.3% from the August 15th total of 911,100 shares. Approximately 2.8% of the shares of the stock are sold short. Based on an average daily volume of 157,800 shares, the short-interest ratio is currently 5.3 days.

CTS Price Performance

Shares of CTS stock traded up $0.20 during trading on Wednesday, reaching $47.03. 113,458 shares of the stock traded hands, compared to its average volume of 151,480. CTS has a 52-week low of $35.50 and a 52-week high of $55.47. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.41 and a quick ratio of 2.85. The business has a fifty day simple moving average of $48.57 and a two-hundred day simple moving average of $48.55. The company has a market capitalization of $1.45 billion, a price-to-earnings ratio of 27.41 and a beta of 0.58.

CTS (NYSE:CTS) last released its quarterly earnings results on Tuesday, July 30th. The electronics maker reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.01. The business had revenue of $130.16 million during 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 firm’s revenue for the quarter was down 10.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.59 EPS. Sell-side analysts expect that CTS will post 2.15 EPS for the current year.

CTS Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, September 27th will be paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date of this dividend is Friday, September 27th. CTS’s payout ratio is 9.41%.

Hedge Funds Weigh In On CTS

Institutional investors and hedge funds have recently made changes to their positions in the business. Pitcairn Co. increased its position in CTS by 3.2% during the first quarter. Pitcairn Co. now owns 7,096 shares of the electronics maker’s stock valued at $332,000 after acquiring an additional 222 shares during the last quarter. Azzad Asset Management Inc. ADV boosted its stake in shares of CTS by 2.2% during the 1st quarter. Azzad Asset Management Inc. ADV now owns 11,364 shares of the electronics maker’s stock worth $532,000 after purchasing an additional 249 shares during the period. SummerHaven Investment Management LLC grew its holdings in CTS by 1.7% during the 2nd quarter. SummerHaven Investment Management LLC now owns 17,529 shares of the electronics maker’s stock valued at $887,000 after purchasing an additional 285 shares during the last quarter. AQR Capital Management LLC raised its position in CTS by 5.8% in the 2nd quarter. AQR Capital Management LLC now owns 5,637 shares of the electronics maker’s stock worth $285,000 after purchasing an additional 308 shares during the period. Finally, Quadrant Capital Group LLC lifted its stake in CTS by 25.8% in the fourth quarter. Quadrant Capital Group LLC now owns 1,636 shares of the electronics maker’s stock worth $72,000 after purchasing an additional 336 shares during the last quarter. 96.87% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

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.