CTS Co. (NYSE:CTS) Short Interest Down 7.6% in September

CTS Co. (NYSE:CTS) was the recipient of a large drop in short interest in September. As of September 30th, there was short interest totalling 831,900 shares, a drop of 7.6% from the September 15th total of 900,700 shares. Based on an average trading volume of 150,700 shares, the short-interest ratio is currently 5.5 days. Currently, 2.8% of the company’s shares are sold short.

Institutional Investors Weigh In On CTS

A number of hedge funds have recently made changes to their positions in CTS. Vanguard Group Inc. grew its holdings in CTS by 1.2% during the first quarter. Vanguard Group Inc. now owns 2,805,735 shares of the electronics maker’s stock valued at $131,280,000 after purchasing an additional 33,636 shares during the period. Earnest Partners LLC raised its stake in CTS by 3.0% in the 2nd quarter. Earnest Partners LLC now owns 1,735,534 shares of the electronics maker’s stock valued at $87,870,000 after acquiring an additional 50,632 shares during the period. Wellington Management Group LLP lifted its holdings in CTS by 7.6% during the fourth quarter. Wellington Management Group LLP now owns 1,344,017 shares of the electronics maker’s stock valued at $58,787,000 after purchasing an additional 94,901 shares during the last quarter. Wasatch Advisors LP boosted its position in CTS by 160.3% during the first quarter. Wasatch Advisors LP now owns 963,954 shares of the electronics maker’s stock worth $45,103,000 after purchasing an additional 593,641 shares during the period. Finally, Tributary Capital Management LLC increased its stake in shares of CTS by 0.3% in the second quarter. Tributary Capital Management LLC now owns 308,078 shares of the electronics maker’s stock worth $15,598,000 after purchasing an additional 902 shares in the last quarter. 96.87% of the stock is currently owned by institutional investors.

CTS Stock Up 0.3 %

Shares of CTS stock traded up $0.14 on Thursday, reaching $49.32. 115,141 shares of the company were exchanged, compared to its average volume of 149,641. 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 company has a 50-day moving average of $47.49 and a 200-day moving average of $48.96. The company has a market cap of $1.52 billion, a price-to-earnings ratio of 28.93 and a beta of 0.57. CTS has a one year low of $35.50 and a one year high of $55.47.

CTS (NYSE:CTS) last announced its quarterly earnings results on Tuesday, July 30th. The electronics maker reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.01. The business had revenue of $130.16 million for the quarter, compared to analyst estimates of $133.33 million. CTS had a return on equity of 11.98% and a net margin of 10.70%. The company’s quarterly revenue was down 10.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.59 earnings per share. Analysts anticipate that CTS will post 2.15 earnings per share for the current year.

CTS Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, September 27th will be paid a $0.04 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.16 dividend on an annualized basis and a yield of 0.32%. CTS’s dividend payout ratio (DPR) is presently 9.41%.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded CTS from a “hold” rating to a “buy” rating in a report on Thursday, October 10th.

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.