Short Interest in CTS Co. (NYSE:CTS) Rises By 7.8%

CTS Co. (NYSE:CTS) was the recipient of a significant increase in short interest in September. As of September 15th, there was short interest totalling 900,700 shares, an increase of 7.8% from the August 31st total of 835,700 shares. Based on an average trading volume of 157,500 shares, the short-interest ratio is currently 5.7 days. Approximately 3.0% of the shares of the company are short sold.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CTS. Parallel Advisors LLC lifted its holdings in 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 during the period. Innealta Capital LLC purchased a new position in shares of CTS during the second quarter valued at approximately $27,000. Canada Pension Plan Investment Board purchased a new position in CTS in the 2nd quarter worth approximately $41,000. Central Pacific Bank Trust Division purchased a new position in CTS in the 1st quarter worth approximately $46,000. Finally, Hantz Financial Services Inc. purchased a new position in CTS in the 2nd quarter worth approximately $157,000. 96.87% of the stock is owned by institutional investors.

CTS Trading Up 0.2 %

NYSE CTS opened at $48.38 on Monday. The stock’s 50-day simple moving average is $47.82 and its two-hundred day simple moving average is $48.70. CTS has a twelve month low of $35.50 and a twelve month high of $55.47. The company has a quick ratio of 2.85, a current ratio of 3.41 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $1.49 billion, a price-to-earnings ratio of 28.46 and a beta of 0.58.

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

CTS Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, September 27th will be paid a dividend of $0.04 per share. The ex-dividend date is Friday, September 27th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.33%. CTS’s dividend payout ratio (DPR) is currently 9.41%.

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.