CTS (NYSE:CTS) Reaches New 12-Month Low – Here’s Why

CTS Co. (NYSE:CTS)’s share price hit a new 52-week low during trading on Tuesday . The company traded as low as $41.23 and last traded at $41.37, with a volume of 873 shares traded. The stock had previously closed at $41.55.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of CTS from a “hold” rating to a “buy” rating in a report on Monday, March 3rd.

CTS Trading Down 0.8 %

The stock has a market cap of $1.24 billion, a price-to-earnings ratio of 21.70 and a beta of 0.57. The business’s 50 day moving average is $45.79 and its 200 day moving average is $49.59. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.50 and a quick ratio of 1.95.

CTS (NYSE:CTS) last released its quarterly earnings data on Tuesday, February 4th. The electronics maker reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.06). CTS had a net margin of 11.27% and a return on equity of 12.67%. As a group, equities analysts expect that CTS Co. will post 2.28 earnings per share for the current fiscal year.

CTS Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, March 28th will be issued a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.39%. The ex-dividend date is Friday, March 28th. CTS’s payout ratio is 8.42%.

Institutional Investors Weigh In On CTS

A number of institutional investors and hedge funds have recently bought and sold shares of CTS. Quarry LP increased its position in shares of CTS by 572.4% during the fourth quarter. Quarry LP now owns 659 shares of the electronics maker’s stock worth $35,000 after purchasing an additional 561 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in CTS by 608.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 737 shares of the electronics maker’s stock worth $39,000 after buying an additional 633 shares during the last quarter. KBC Group NV increased its position in CTS by 58.2% during the fourth quarter. KBC Group NV now owns 1,713 shares of the electronics maker’s stock worth $90,000 after buying an additional 630 shares during the period. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of CTS in the fourth quarter valued at approximately $202,000. Finally, Atria Wealth Solutions Inc. purchased a new position in shares of CTS during the fourth quarter worth approximately $214,000. 96.87% of the stock is owned by hedge funds and other institutional investors.

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.