CTS (NYSE:CTS) Hits New 1-Year Low – Here’s What Happened

Shares of CTS Co. (NYSE:CTS) hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $41.87 and last traded at $41.92, with a volume of 20050 shares traded. The stock had previously closed at $42.49.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of CTS from a “hold” rating to a “buy” rating in a report on Monday, March 3rd.

CTS Stock Up 2.4 %

The stock has a market capitalization of $1.28 billion, a P/E ratio of 22.34 and a beta of 0.57. The company’s 50-day moving average price is $47.64 and its 200 day moving average price is $49.87. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.95 and a current ratio of 2.50.

CTS (NYSE:CTS) last announced its quarterly earnings results on Tuesday, February 4th. The electronics maker reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.06). CTS had a net margin of 11.27% and a return on equity of 12.67%. As a group, equities analysts expect that CTS Co. will post 2.28 earnings per share for the current year.

CTS Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, March 28th will be paid a dividend of $0.04 per share. The ex-dividend date is Friday, March 28th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.38%. CTS’s dividend payout ratio is presently 8.42%.

Institutional Investors Weigh In On CTS

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quarry LP raised its holdings in shares of CTS by 572.4% in the 4th quarter. Quarry LP now owns 659 shares of the electronics maker’s stock valued at $35,000 after purchasing an additional 561 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of CTS by 608.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 737 shares of the electronics maker’s stock valued at $39,000 after purchasing an additional 633 shares in the last quarter. KBC Group NV raised its holdings in shares of CTS by 58.2% in the 4th quarter. KBC Group NV now owns 1,713 shares of the electronics maker’s stock valued at $90,000 after purchasing an additional 630 shares in the last quarter. Quest Partners LLC bought a new stake in shares of CTS in the 3rd quarter valued at about $92,000. Finally, Envestnet Portfolio Solutions Inc. bought a new stake in shares of CTS in the 4th quarter valued at about $202,000. Institutional investors own 96.87% of the company’s stock.

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.