1ST Source Bank Cuts Position in CTS Co. (NYSE:CTS)

1ST Source Bank decreased its position in shares of CTS Co. (NYSE:CTS) by 68.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,172 shares of the electronics maker’s stock after selling 39,179 shares during the period. 1ST Source Bank’s holdings in CTS were worth $958,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Wasatch Advisors LP raised its stake in shares of CTS by 23.1% during the third quarter. Wasatch Advisors LP now owns 1,993,863 shares of the electronics maker’s stock worth $96,463,000 after acquiring an additional 374,104 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of CTS during the 4th quarter valued at $15,852,000. Weiss Asset Management LP purchased a new position in CTS in the 3rd quarter worth $4,960,000. Madison Investment Advisors LLC bought a new stake in CTS in the fourth quarter worth $3,787,000. Finally, Allspring Global Investments Holdings LLC boosted its position in CTS by 252.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 65,174 shares of the electronics maker’s stock valued at $3,437,000 after buying an additional 46,686 shares during the period. Institutional investors own 96.87% of the company’s stock.

CTS Stock Performance

Shares of CTS stock opened at $42.44 on Monday. 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 Co. has a fifty-two week low of $41.23 and a fifty-two week high of $59.68. The company has a market capitalization of $1.28 billion, a P/E ratio of 22.34 and a beta of 0.57. The stock has a 50 day moving average price of $47.64 and a two-hundred day moving average price of $49.89.

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

CTS Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, March 28th will be issued 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 yield of 0.38%. CTS’s dividend payout ratio is presently 8.42%.

Wall Street Analyst Weigh In

Separately, StockNews.com raised CTS from a “hold” rating to a “buy” rating in a research note on Monday, March 3rd.

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.