Municipal Employees Retirement System of Michigan Buys 24,960 Shares of CTS Co. (NYSE:CTS)

Municipal Employees Retirement System of Michigan lifted its stake in shares of CTS Co. (NYSE:CTS) by 257.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,660 shares of the electronics maker’s stock after purchasing an additional 24,960 shares during the quarter. Municipal Employees Retirement System of Michigan’s holdings in CTS were worth $956,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Covenant Multifamily Offices LLC bought a new position in shares of CTS during the 1st quarter worth about $26,000. Investors Research Corp bought a new position in shares of CTS during the 1st quarter worth about $32,000. Trust Co. of Vermont bought a new position in shares of CTS during the 2nd quarter worth about $41,000. Quantamental Technologies LLC bought a new position in shares of CTS during the 1st quarter worth about $56,000. Finally, BNP Paribas Arbitrage SA boosted its position in shares of CTS by 288.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 6,809 shares of the electronics maker’s stock worth $200,000 after purchasing an additional 5,054 shares in the last quarter. 95.25% of the stock is currently owned by institutional investors.

CTS opened at $27.68 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.60 and a quick ratio of 2.15. CTS Co. has a fifty-two week low of $24.07 and a fifty-two week high of $37.10. The firm has a market capitalization of $964.71 million, a PE ratio of 18.09 and a beta of 1.28. The company’s 50-day moving average is $28.94 and its 200 day moving average is $29.33.



CTS (NYSE:CTS) last posted its earnings results on Thursday, July 25th. The electronics maker reported $0.40 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.02. CTS had a net margin of 10.72% and a return on equity of 13.92%. The company had revenue of $120.68 million for the quarter, compared to analyst estimates of $115.10 million. During the same quarter in the prior year, the business posted $0.39 EPS. The firm’s revenue was up 2.3% compared to the same quarter last year. As a group, analysts expect that CTS Co. will post 1.59 EPS for the current year.

A number of equities analysts have recently issued reports on CTS shares. Zacks Investment Research cut shares of CTS from a “hold” rating to a “sell” rating in a research report on Monday, July 29th. ValuEngine raised shares of CTS from a “sell” rating to a “hold” rating in a research report on Monday, July 22nd. Gabelli reissued a “hold” rating on shares of CTS in a research report on Friday, April 26th. Finally, Cowen started coverage on shares of CTS in a research report on Tuesday, May 21st. They set an “outperform” rating and a $34.00 price objective on the stock.

CTS Company Profile

CTS Corporation designs, manufactures, and sells a range of sensors, electronic components, and actuators primarily to original equipment manufacturers for the aerospace and defense, industrial, information technology, medical, telecommunications, and transportation markets. It offers sensors and actuators for use in passenger or consumer vehicles; electronic components for use in telecommunications infrastructure, information technology and other high-speed applications, switches, and potentiometers supplied to various markets; and fabricated piezoelectric materials and substrates used primarily in medical, industrial, aerospace and defense, and information technology markets.

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Institutional Ownership by Quarter for CTS (NYSE:CTS)

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