Short Interest in CTS Co. (NYSE:CTS) Decreases By 5.6%

CTS Co. (NYSE:CTS) saw a significant drop in short interest in the month of December. As of December 15th, there was short interest totalling 704,000 shares, a drop of 5.6% from the November 30th total of 745,900 shares. Based on an average daily volume of 142,900 shares, the days-to-cover ratio is currently 4.9 days. Approximately 2.4% of the shares of the company are sold short.

CTS Trading Up 0.0 %

CTS opened at $52.73 on Thursday. The company’s 50 day moving average is $53.92 and its 200-day moving average is $50.53. The company has a market cap of $1.59 billion, a P/E ratio of 27.18 and a beta of 0.60. CTS has a 1-year low of $40.09 and a 1-year high of $59.68. The company has a current ratio of 2.46, a quick ratio of 1.91 and a debt-to-equity ratio of 0.19.

CTS (NYSE:CTS) last issued its earnings results on Tuesday, October 29th. The electronics maker reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.06. CTS had a net margin of 11.66% and a return on equity of 12.39%. The firm had revenue of $132.42 million for the quarter. During the same quarter in the prior year, the business earned $0.54 EPS. Equities research analysts predict that CTS will post 2.15 earnings per share for the current fiscal year.

CTS Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, December 27th will be issued a $0.04 dividend. The ex-dividend date of this dividend is Friday, December 27th. This represents a $0.16 dividend on an annualized basis and a yield of 0.30%. CTS’s dividend payout ratio (DPR) is presently 8.25%.

Analyst Upgrades and Downgrades

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

Insider Transactions at CTS

In other news, CEO Kieran M. O’sullivan sold 8,494 shares of the stock in a transaction on Friday, December 6th. The stock was sold at an average price of $54.50, for a total transaction of $462,923.00. Following the sale, the chief executive officer now directly owns 382,333 shares of the company’s stock, valued at approximately $20,837,148.50. This represents a 2.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders have sold 59,956 shares of company stock valued at $3,331,185. 2.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On CTS

Institutional investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC bought a new position in CTS during the 2nd quarter worth $4,001,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of CTS by 8.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,118 shares of the electronics maker’s stock worth $360,000 after acquiring an additional 540 shares during the last quarter. Hantz Financial Services Inc. acquired a new position in shares of CTS in the second quarter worth approximately $157,000. Natixis Advisors LLC boosted its holdings in CTS by 11.6% in the second quarter. Natixis Advisors LLC now owns 17,137 shares of the electronics maker’s stock valued at $868,000 after acquiring an additional 1,779 shares during the last quarter. Finally, Choreo LLC acquired a new stake in CTS during the 2nd quarter valued at approximately $235,000. 96.87% of the stock is owned by institutional investors.

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.