CTS Co. (NYSE:CTS) Shares Sold by Tidal Investments LLC

Tidal Investments LLC cut its stake in shares of CTS Co. (NYSE:CTS) by 4.2% in the third quarter, HoldingsChannel.com reports. The fund owned 13,642 shares of the electronics maker’s stock after selling 595 shares during the period. Tidal Investments LLC’s holdings in CTS were worth $660,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CTS. Innealta Capital LLC purchased a new stake in shares of CTS during the second quarter worth about $27,000. GAMMA Investing LLC boosted its holdings in CTS by 132.5% in the 3rd quarter. GAMMA Investing LLC now owns 586 shares of the electronics maker’s stock worth $28,000 after buying an additional 334 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in CTS during the 2nd quarter worth approximately $41,000. Quest Partners LLC acquired a new position in shares of CTS during the third quarter valued at approximately $92,000. Finally, Hantz Financial Services Inc. purchased a new position in shares of CTS in the second quarter valued at approximately $157,000. 96.87% of the stock is owned by hedge funds and other institutional investors.

CTS Trading Down 1.2 %

CTS opened at $52.20 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.46 and a quick ratio of 1.91. The company’s 50 day simple moving average is $53.13 and its two-hundred day simple moving average is $50.48. The firm has a market capitalization of $1.57 billion, a price-to-earnings ratio of 26.91 and a beta of 0.60. CTS Co. has a 1-year low of $40.09 and a 1-year high of $59.68.

CTS (NYSE:CTS) last released its quarterly earnings data on Tuesday, October 29th. The electronics maker reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.06. The company had revenue of $132.42 million for the quarter. CTS had a return on equity of 12.39% and a net margin of 11.66%. During the same period last year, the firm posted $0.54 EPS. Analysts expect that CTS Co. will post 2.15 EPS for the current fiscal year.

CTS Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, December 27th will be given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.31%. The ex-dividend date is Friday, December 27th. CTS’s payout ratio is currently 8.25%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CTS. Scotiabank cut CTS from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 25th. StockNews.com lowered shares of CTS from a “buy” rating to a “hold” rating in a report on Thursday, November 7th.

Insiders Place Their Bets

In related news, CEO Kieran M. O’sullivan sold 8,494 shares of the stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $54.50, for a total value of $462,923.00. Following the completion of the transaction, the chief executive officer now directly owns 382,333 shares in the company, valued at approximately $20,837,148.50. This represents a 2.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold 59,956 shares of company stock valued at $3,331,185 over the last ninety days. Company insiders own 2.00% of the company’s stock.

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.