CTS Co. (NYSE:CTS) Short Interest Update

CTS Co. (NYSE:CTS) was the target of a large increase in short interest in September. As of September 15th, there was short interest totalling 900,700 shares, an increase of 7.8% from the August 31st total of 835,700 shares. Currently, 3.0% of the company’s stock are short sold. Based on an average daily volume of 157,500 shares, the short-interest ratio is currently 5.7 days.

CTS Stock Performance

CTS opened at $47.54 on Wednesday. The firm’s 50-day moving average price is $47.70 and its 200-day moving average price is $48.76. The company has a market cap of $1.46 billion, a P/E ratio of 28.14 and a beta of 0.58. The company has a quick ratio of 2.85, a current ratio of 3.41 and a debt-to-equity ratio of 0.12. CTS has a 52-week low of $35.50 and a 52-week high of $55.47.

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, beating the consensus estimate of $0.53 by $0.01. The firm had revenue of $130.16 million for the quarter, compared to the consensus estimate of $133.33 million. CTS had a return on equity of 11.98% and a net margin of 10.70%. The firm’s revenue was down 10.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.59 EPS. As a group, equities analysts anticipate that CTS will post 2.15 EPS for the current fiscal year.

CTS Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, September 27th will be paid a $0.04 dividend. The ex-dividend date is Friday, September 27th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.34%. CTS’s payout ratio is currently 9.41%.

Institutional Investors Weigh In On CTS

Hedge funds have recently added to or reduced their stakes in the business. Innealta Capital LLC acquired a new position in shares of CTS in the 2nd quarter valued at about $27,000. Parallel Advisors LLC lifted its holdings in CTS by 245.5% in the fourth quarter. Parallel Advisors LLC now owns 577 shares of the electronics maker’s stock valued at $25,000 after acquiring an additional 410 shares during the period. Canada Pension Plan Investment Board acquired a new position in CTS in the second quarter valued at approximately $41,000. Central Pacific Bank Trust Division purchased a new stake in CTS in the 1st quarter worth approximately $46,000. Finally, Hantz Financial Services Inc. acquired a new stake in shares of CTS during the 2nd quarter worth approximately $157,000. 96.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of CTS from a “buy” rating to a “hold” rating in a research note on Monday, September 16th.

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.