CTS (NYSE:CTS) Downgraded by StockNews.com

StockNews.com lowered shares of CTS (NYSE:CTS) from a buy rating to a hold rating in a research note released on Wednesday morning.

CTS Price Performance

NYSE CTS opened at $46.02 on Wednesday. CTS has a 52 week low of $35.50 and a 52 week high of $55.47. The firm has a market capitalization of $1.40 billion, a P/E ratio of 27.07 and a beta of 0.59. The company has a quick ratio of 2.71, a current ratio of 3.41 and a debt-to-equity ratio of 0.12. The company has a 50-day moving average price of $51.43 and a 200-day moving average price of $47.74.

CTS (NYSE:CTS) last released its earnings results on Tuesday, July 30th. The electronics maker reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.01. The company had revenue of $130.16 million during the quarter, compared to analyst estimates of $133.33 million. CTS had a net margin of 10.70% and a return on equity of 11.98%. The firm’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.59 EPS. Equities research analysts anticipate that CTS will post 2.15 earnings per share for the current year.

CTS Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 26th. Investors of record on Friday, June 28th were issued a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.35%. The ex-dividend date of this dividend was Friday, June 28th. CTS’s dividend payout ratio is 9.41%.

Insider Buying and Selling

In other CTS news, SVP Martin Baumeister sold 5,733 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $52.39, for a total value of $300,351.87. Following the completion of the transaction, the senior vice president now directly owns 19,811 shares in the company, valued at approximately $1,037,898.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP boosted its stake in CTS by 7.6% in the 4th quarter. Wellington Management Group LLP now owns 1,344,017 shares of the electronics maker’s stock worth $58,787,000 after purchasing an additional 94,901 shares during the period. Wasatch Advisors LP bought a new position in shares of CTS during the 4th quarter valued at approximately $16,197,000. Heartland Advisors Inc. bought a new position in shares of CTS during the 4th quarter valued at approximately $9,855,000. Tributary Capital Management LLC boosted its position in shares of CTS by 11.3% during the 1st quarter. Tributary Capital Management LLC now owns 307,176 shares of the electronics maker’s stock valued at $14,373,000 after acquiring an additional 31,069 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D boosted its position in shares of CTS by 21.0% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 63,888 shares of the electronics maker’s stock valued at $2,794,000 after acquiring an additional 11,079 shares during the last quarter. 96.87% of the stock is currently owned by 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.