Public Sector Pension Investment Board Sells 2,900 Shares of CTS Co. (NYSE:CTS)

Public Sector Pension Investment Board decreased its holdings in shares of CTS Co. (NYSE:CTS) by 4.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 64,389 shares of the electronics maker’s stock after selling 2,900 shares during the period. Public Sector Pension Investment Board owned about 0.21% of CTS worth $3,115,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of CTS. Innealta Capital LLC bought a new stake in CTS during the second quarter valued at about $27,000. GAMMA Investing LLC lifted its position in shares of CTS by 132.5% during the 3rd quarter. GAMMA Investing LLC now owns 586 shares of the electronics maker’s stock valued at $28,000 after buying an additional 334 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in shares of CTS during the 2nd quarter valued at approximately $41,000. Quest Partners LLC purchased a new stake in CTS in the 3rd quarter worth approximately $92,000. Finally, Hantz Financial Services Inc. purchased a new stake in CTS in the 2nd quarter worth approximately $157,000. 96.87% of the stock is currently owned by hedge funds and other institutional investors.

CTS Stock Down 2.0 %

Shares of CTS opened at $55.29 on Wednesday. CTS Co. has a 12-month low of $39.15 and a 12-month high of $59.68. The company has a current ratio of 2.46, a quick ratio of 1.91 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $1.67 billion, a PE ratio of 28.50 and a beta of 0.60. The business’s 50 day moving average is $51.27 and its 200 day moving average is $50.28.

CTS (NYSE:CTS) last released its quarterly earnings data on Tuesday, October 29th. The electronics maker reported $0.63 EPS for the quarter, beating the consensus estimate of $0.57 by $0.06. The business had revenue of $132.42 million during the quarter. CTS had a net margin of 11.66% and a return on equity of 12.39%. During the same period last year, the company earned $0.54 EPS. Research analysts expect that CTS Co. will post 2.15 earnings per share for the current fiscal year.

CTS Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, December 27th will be issued a dividend of $0.04 per share. The ex-dividend date is Friday, December 27th. This represents a $0.16 annualized dividend and a dividend yield of 0.29%. CTS’s dividend payout ratio (DPR) is 8.25%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CTS. StockNews.com downgraded shares of CTS from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Scotiabank cut shares of CTS from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 25th.

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.