CTS Co. (NYSE:CTS) Short Interest Down 8.3% in August

CTS Co. (NYSE:CTS) was the recipient of a significant decrease in short interest in the month of August. As of August 31st, there was short interest totalling 835,700 shares, a decrease of 8.3% from the August 15th total of 911,100 shares. Approximately 2.8% of the company’s shares are sold short. Based on an average daily volume of 157,800 shares, the days-to-cover ratio is currently 5.3 days.

CTS Trading Up 0.4 %

Shares of CTS stock opened at $47.03 on Thursday. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.41 and a quick ratio of 2.85. The firm has a market cap of $1.45 billion, a PE ratio of 27.66 and a beta of 0.58. The company has a 50-day moving average of $48.52 and a two-hundred day moving average of $48.54. CTS has a 1-year low of $35.50 and a 1-year high of $55.47.

CTS (NYSE:CTS) last announced its earnings results on Tuesday, July 30th. The electronics maker reported $0.54 earnings per share 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%. CTS’s revenue was down 10.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.59 earnings per share. On average, analysts predict that CTS will post 2.15 EPS for the current year.

CTS Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, September 27th will be paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.34%. The ex-dividend date is Friday, September 27th. CTS’s dividend payout ratio (DPR) is presently 9.41%.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Russell Investments Group Ltd. boosted its stake in shares of CTS by 13.9% in the fourth quarter. Russell Investments Group Ltd. now owns 15,340 shares of the electronics maker’s stock valued at $671,000 after purchasing an additional 1,871 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of CTS by 2.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 351,491 shares of the electronics maker’s stock valued at $15,374,000 after purchasing an additional 8,248 shares during the period. Quadrant Capital Group LLC boosted its stake in shares of CTS by 25.8% in the fourth quarter. Quadrant Capital Group LLC now owns 1,636 shares of the electronics maker’s stock valued at $72,000 after purchasing an additional 336 shares during the period. Norges Bank purchased a new position in shares of CTS in the fourth quarter valued at approximately $8,859,000. Finally, Franklin Resources Inc. boosted its stake in shares of CTS by 0.6% in the fourth quarter. Franklin Resources Inc. now owns 69,086 shares of the electronics maker’s stock valued at $3,022,000 after purchasing an additional 401 shares during the period. Hedge funds and other institutional investors own 96.87% of the company’s stock.

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.