CTS (NYSE:CTS) Reaches New 1-Year High at $51.93

CTS Co. (NYSE:CTSGet Free Report)’s stock price reached a new 52-week high during trading on Monday . The company traded as high as $51.93 and last traded at $51.77, with a volume of 2328 shares changing hands. The stock had previously closed at $51.59.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Sidoti downgraded shares of CTS from a “buy” rating to a “neutral” rating and set a $46.00 price objective on the stock. in a research report on Wednesday, February 7th. TD Cowen increased their price objective on shares of CTS from $38.00 to $46.00 and gave the company a “market perform” rating in a research report on Wednesday, February 7th.

Get Our Latest Stock Report on CTS

CTS Stock Down 0.6 %

The company has a debt-to-equity ratio of 0.13, a current ratio of 3.32 and a quick ratio of 2.71. The firm has a market capitalization of $1.58 billion, a P/E ratio of 30.35 and a beta of 0.62. The company’s 50-day simple moving average is $45.96 and its two-hundred day simple moving average is $43.23.

CTS (NYSE:CTSGet Free Report) last released its quarterly earnings results on Wednesday, May 1st. The electronics maker reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.06. The business had revenue of $125.70 million for the quarter, compared to the consensus estimate of $126.75 million. CTS had a net margin of 10.06% and a return on equity of 12.39%. The company’s quarterly revenue was down 13.9% on a year-over-year basis. During the same period last year, the firm earned $0.61 earnings per share. As a group, research analysts expect that CTS Co. will post 2.3 earnings per share for the current year.

CTS Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, June 28th will be paid a $0.04 dividend. The ex-dividend date is Friday, June 28th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.31%. CTS’s dividend payout ratio (DPR) is presently 9.41%.

Insider Transactions at CTS

In other news, CFO Ashish Agrawal sold 800 shares of the stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $47.00, for a total value of $37,600.00. Following the completion of the sale, the chief financial officer now directly owns 127,977 shares of the company’s stock, valued at $6,014,919. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CFO Ashish Agrawal sold 800 shares of the firm’s stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $47.00, for a total transaction of $37,600.00. Following the completion of the transaction, the chief financial officer now directly owns 127,977 shares of the company’s stock, valued at $6,014,919. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Kieran M. O’sullivan sold 2,064 shares of the firm’s stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $47.00, for a total transaction of $97,008.00. Following the transaction, the chief executive officer now directly owns 499,498 shares of the company’s stock, valued at $23,476,406. The disclosure for this sale can be found here. Insiders sold a total of 62,602 shares of company stock valued at $2,947,896 over the last three months. Corporate insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On CTS

A number of institutional investors and hedge funds have recently made changes to their positions in CTS. Wasatch Advisors LP grew its stake in shares of CTS by 160.3% in the 1st quarter. Wasatch Advisors LP now owns 963,954 shares of the electronics maker’s stock worth $45,103,000 after buying an additional 593,641 shares in the last quarter. Heartland Advisors Inc. purchased a new position in shares of CTS in the 4th quarter worth $9,855,000. Norges Bank purchased a new position in shares of CTS in the 4th quarter worth $8,859,000. Envestnet Asset Management Inc. grew its stake in shares of CTS by 181.4% in the 3rd quarter. Envestnet Asset Management Inc. now owns 216,035 shares of the electronics maker’s stock worth $9,017,000 after buying an additional 139,269 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of CTS by 4.7% in the 3rd quarter. Vanguard Group Inc. now owns 2,729,923 shares of the electronics maker’s stock worth $113,947,000 after acquiring an additional 122,600 shares during the last quarter. 96.87% of the stock is owned by hedge funds and other institutional investors.

CTS Company Profile

(Get Free Report)

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.

Further Reading

Receive News & Ratings for CTS Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CTS and related companies with MarketBeat.com's FREE daily email newsletter.