Short Interest in CTS Co. (NYSE:CTS) Grows By 7.8%

CTS Co. (NYSE:CTS) was the recipient of a significant growth in short interest during the month of September. As of September 15th, there was short interest totalling 900,700 shares, a growth of 7.8% from the August 31st total of 835,700 shares. Currently, 3.0% of the company’s stock are short sold. Based on an average daily volume of 157,500 shares, the days-to-cover ratio is currently 5.7 days.

Analyst Upgrades and Downgrades

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

CTS Stock Performance

CTS stock traded down $0.62 on Tuesday, hitting $47.76. The company had a trading volume of 26,439 shares, compared to its average volume of 151,789. The stock has a market cap of $1.47 billion, a price-to-earnings ratio of 27.99 and a beta of 0.58. The company has a current ratio of 3.41, a quick ratio of 2.85 and a debt-to-equity ratio of 0.12. The stock’s 50-day simple moving average is $47.70 and its 200 day simple moving average is $48.76. CTS has a 12-month low of $35.50 and a 12-month high of $55.47.

CTS (NYSE:CTS) last posted its quarterly earnings data on Tuesday, July 30th. The electronics maker reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.01. The company 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%. CTS’s revenue for the quarter was down 10.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.59 earnings per share. As a group, equities research analysts expect that CTS will post 2.15 earnings per share for the current fiscal year.

CTS Announces Dividend

The firm 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 annualized dividend and a yield of 0.34%. CTS’s dividend payout ratio (DPR) is 9.41%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Innealta Capital LLC bought a new stake in CTS during the second quarter valued at about $27,000. Parallel Advisors LLC grew its holdings in CTS by 245.5% during the fourth quarter. Parallel Advisors LLC now owns 577 shares of the electronics maker’s stock valued at $25,000 after purchasing an additional 410 shares during the period. Canada Pension Plan Investment Board bought a new stake in CTS during the second quarter valued at about $41,000. Central Pacific Bank Trust Division bought a new stake in CTS during the first quarter valued at about $46,000. Finally, Hantz Financial Services Inc. bought a new stake in CTS during the second quarter valued at about $157,000. 96.87% of the stock is currently owned by institutional investors.

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.