Advisors Asset Management Inc. bought a new stake in CTS Corp. (NYSE:CTS) during the second quarter, Holdings Channel reports. The institutional investor bought 15,481 shares of the company’s stock, valued at approximately $277,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of CTS. BNP Paribas Arbitrage SA boosted its stake in CTS Corp. by 104.8% in the second quarter. BNP Paribas Arbitrage SA now owns 10,174 shares of the company’s stock valued at $182,000 after buying an additional 5,207 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in CTS Corp. by 0.7% in the second quarter. Louisiana State Employees Retirement System now owns 14,500 shares of the company’s stock valued at $260,000 after buying an additional 100 shares during the last quarter. Arizona State Retirement System boosted its stake in CTS Corp. by 2.5% in the first quarter. Arizona State Retirement System now owns 16,647 shares of the company’s stock valued at $262,000 after buying an additional 400 shares during the last quarter. Strs Ohio boosted its stake in CTS Corp. by 8.4% in the second quarter. Strs Ohio now owns 28,300 shares of the company’s stock valued at $507,000 after buying an additional 2,200 shares during the last quarter. Finally, Swiss National Bank boosted its stake in CTS Corp. by 5.1% in the second quarter. Swiss National Bank now owns 51,200 shares of the company’s stock valued at $918,000 after buying an additional 2,500 shares during the last quarter. Institutional investors and hedge funds own 91.79% of the company’s stock.
CTS Corp. (NYSE:CTS) traded up 1.75% during mid-day trading on Friday, hitting $18.60. The company’s stock had a trading volume of 83,586 shares. The stock has a market cap of $609.30 million, a P/E ratio of 156.30 and a beta of 1.31. The company’s 50 day moving average is $18.81 and its 200-day moving average is $17.85. CTS Corp. has a 52-week low of $12.87 and a 52-week high of $20.25.
CTS Corp. (NYSE:CTS) last posted its quarterly earnings data on Friday, July 29th. The company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by $0.01. The firm had revenue of $98.70 million for the quarter, compared to analysts’ expectations of $106.34 million. CTS Corp. had a net margin of 1.04% and a return on equity of 10.71%. The firm’s revenue was down 1.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.30 EPS. On average, equities analysts predict that CTS Corp. will post $1.02 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 28th. Investors of record on Friday, September 23rd will be given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date of this dividend is Wednesday, September 21st. CTS Corp.’s dividend payout ratio (DPR) is presently 145.45%.
Separately, TheStreet raised CTS Corp. from a “hold” rating to a “buy” rating in a report on Thursday, June 9th.
In related news, CFO Ashish Agrawal sold 2,250 shares of the company’s stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $19.25, for a total transaction of $43,312.50. Following the completion of the sale, the chief financial officer now owns 71,867 shares in the company, valued at $1,383,439.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.66% of the company’s stock.
CTS Corp. Company Profile
CTS Corporation (CTS) is a global manufacturer of sensors, electronic components and actuators. The Company designs, manufactures and sells a line of sensors, electronic components and actuators primarily to original equipment manufacturers (OEMs) for the automotive, communications, defense and aerospace, medical, industrial and computer markets.
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