Tributary Capital Management LLC Acquires 31,069 Shares of CTS Co. (NYSE:CTS)

Tributary Capital Management LLC lifted its holdings in CTS Co. (NYSE:CTS) by 11.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 307,176 shares of the electronics maker’s stock after acquiring an additional 31,069 shares during the period. Tributary Capital Management LLC’s holdings in CTS were worth $14,373,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Parallel Advisors LLC lifted its position in shares of CTS by 245.5% in the fourth quarter. Parallel Advisors LLC now owns 577 shares of the electronics maker’s stock worth $25,000 after buying an additional 410 shares in the last quarter. Quadrant Capital Group LLC raised its holdings in shares of CTS by 25.8% in the fourth quarter. Quadrant Capital Group LLC now owns 1,636 shares of the electronics maker’s stock worth $72,000 after buying an additional 336 shares during the period. Perpetual Ltd purchased a new stake in shares of CTS in the first quarter worth approximately $211,000. Handelsbanken Fonder AB purchased a new stake in shares of CTS in the fourth quarter worth approximately $209,000. Finally, Quadrature Capital Ltd purchased a new stake in shares of CTS in the fourth quarter worth approximately $269,000. 96.87% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Kieran M. O’sullivan sold 27,905 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $47.11, for a total transaction of $1,314,604.55. Following the transaction, the chief executive officer now directly owns 455,643 shares in the company, valued at approximately $21,465,341.73. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Kieran M. O’sullivan sold 2,064 shares of the business’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 completion of the transaction, the chief executive officer now owns 499,498 shares in the company, valued at $23,476,406. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Kieran M. O’sullivan sold 27,905 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $47.11, for a total transaction of $1,314,604.55. Following the transaction, the chief executive officer now owns 455,643 shares of the company’s stock, valued at approximately $21,465,341.73. The disclosure for this sale can be found here. In the last three months, insiders have sold 48,780 shares of company stock worth $2,326,765. Insiders own 2.30% of the company’s stock.

CTS Stock Down 3.1 %

Shares of NYSE:CTS opened at $49.05 on Tuesday. CTS Co. has a 52-week low of $35.50 and a 52-week high of $54.73. The stock has a market cap of $1.51 billion, a P/E ratio of 28.85 and a beta of 0.60. The business’s 50 day moving average is $50.94 and its 200 day moving average is $46.42. The company has a quick ratio of 2.71, a current ratio of 3.32 and a debt-to-equity ratio of 0.13.

CTS (NYSE:CTS) last announced its quarterly earnings data on Wednesday, May 1st. The electronics maker reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.06. The company had revenue of $125.70 million for the quarter, compared to analysts’ expectations of $126.75 million. CTS had a return on equity of 12.39% and a net margin of 10.06%. CTS’s revenue was down 13.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.61 earnings per share. Sell-side analysts predict that CTS Co. will post 2.25 EPS for the current year.

CTS Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, June 28th will be given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.33%. The ex-dividend date is Friday, June 28th. CTS’s dividend payout ratio (DPR) is presently 9.41%.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded CTS from a “hold” rating to a “buy” rating in a report on Thursday, June 27th.

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.