First Trust Advisors LP reduced its position in shares of CTS Corp. (NYSE:CTS) by 73.6% during the second quarter, Holdings Channel reports. The fund owned 16,908 shares of the company’s stock after selling 47,060 shares during the period. First Trust Advisors LP owned about 0.05% of CTS Corp. worth $303,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA increased 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 worth $182,000 after buying an additional 5,207 shares during the last quarter. Louisiana State Employees Retirement System increased 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 worth $260,000 after buying an additional 100 shares during the last quarter. Strs Ohio increased its stake in CTS Corp. by 8.4% in the second quarter. Strs Ohio now owns 28,300 shares of the company’s stock worth $507,000 after buying an additional 2,200 shares during the last quarter. Swiss National Bank increased 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 in the last quarter. Finally, Prudential Financial Inc. increased its stake in CTS Corp. by 2.4% in the first quarter. Prudential Financial Inc. now owns 77,715 shares of the company’s stock valued at $1,223,000 after buying an additional 1,800 shares in the last quarter. Hedge funds and other institutional investors own 91.79% of the company’s stock.
CTS Corp. (NYSE:CTS) traded down 0.11% during midday trading on Friday, reaching $17.41. 56,958 shares of the company’s stock traded hands. The company’s 50-day moving average price is $18.52 and its 200 day moving average price is $18.03. CTS Corp. has a 52 week low of $12.87 and a 52 week high of $20.25. The stock has a market capitalization of $570.32 million, a price-to-earnings ratio of 146.30 and a beta of 1.23.
CTS Corp. (NYSE:CTS) last announced its quarterly earnings data on Friday, July 29th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by $0.01. The company earned $98.70 million during the quarter, compared to analyst estimates of $106.34 million. CTS Corp. had a return on equity of 10.71% and a net margin of 1.04%. The company’s revenue was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.30 EPS. On average, equities research analysts expect that CTS Corp. will post $1.02 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 28th. Stockholders of record on Friday, September 23rd will be paid a $0.04 dividend. The ex-dividend date is Wednesday, September 21st. This represents a $0.16 annualized dividend and a dividend yield of 0.92%. CTS Corp.’s payout ratio is 145.45%.
In other CTS Corp. news, CFO Ashish Agrawal sold 2,250 shares of CTS Corp. stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $19.25, for a total transaction of $43,312.50. Following 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 filing with the Securities & Exchange Commission, which can be accessed through this link. 1.66% of the stock is currently owned by insiders.
About CTS Corp.
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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