Summit Trail Advisors LLC Takes Position in CTS Co. (NYSE:CTS)

Summit Trail Advisors LLC acquired a new stake in shares of CTS Co. (NYSE:CTS) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 4,216 shares of the electronics maker’s stock, valued at approximately $214,000.

A number of other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of CTS by 1.2% during the first quarter. Vanguard Group Inc. now owns 2,805,735 shares of the electronics maker’s stock valued at $131,280,000 after purchasing an additional 33,636 shares in the last quarter. Wellington Management Group LLP grew its position in shares of CTS by 7.6% during the fourth quarter. Wellington Management Group LLP now owns 1,344,017 shares of the electronics maker’s stock valued at $58,787,000 after purchasing an additional 94,901 shares in the last quarter. Fiduciary Management Inc. WI grew its position in shares of CTS by 4.2% during the fourth quarter. Fiduciary Management Inc. WI now owns 1,187,171 shares of the electronics maker’s stock valued at $51,927,000 after purchasing an additional 47,730 shares in the last quarter. Wasatch Advisors LP grew its position in CTS by 160.3% in the first quarter. Wasatch Advisors LP now owns 963,954 shares of the electronics maker’s stock worth $45,103,000 after acquiring an additional 593,641 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in CTS by 2.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 351,491 shares of the electronics maker’s stock worth $15,374,000 after acquiring an additional 8,248 shares in the last quarter. Hedge funds and other institutional investors own 96.87% of the company’s stock.

CTS Trading Up 1.3 %

CTS opened at $48.11 on Wednesday. The firm has a market cap of $1.48 billion, a P/E ratio of 28.30 and a beta of 0.58. CTS Co. has a 12 month low of $35.50 and a 12 month high of $55.47. The company has a current ratio of 3.41, a quick ratio of 2.85 and a debt-to-equity ratio of 0.12. The stock has a 50-day moving average of $48.13 and a 200 day moving average of $48.66.

CTS (NYSE:CTS) last released its quarterly earnings results on Tuesday, July 30th. The electronics maker reported $0.54 EPS for the quarter, topping the consensus estimate of $0.53 by $0.01. The company had revenue of $130.16 million during the quarter, compared to analyst estimates of $133.33 million. CTS had a return on equity of 11.98% and a net margin of 10.70%. The firm’s revenue was down 10.3% on a year-over-year basis. During the same quarter last year, the business posted $0.59 earnings per share. As a group, research analysts forecast that CTS Co. will post 2.15 EPS for the current year.

CTS Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, September 27th will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.33%. The ex-dividend date of this dividend is Friday, September 27th. CTS’s payout ratio is currently 9.41%.

Analyst Ratings Changes

Separately, StockNews.com lowered CTS from a “buy” rating to a “hold” rating in a research report on Monday, September 16th.

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.