Comerica Bank Cuts Stake in CTS Co. (NYSE:CTS)

Comerica Bank decreased its stake in CTS Co. (NYSE:CTS) by 3.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,057 shares of the electronics maker’s stock after selling 491 shares during the period. Comerica Bank’s holdings in CTS were worth $689,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Northern Trust Corp lifted its position in CTS by 10.4% during the 4th quarter. Northern Trust Corp now owns 338,930 shares of the electronics maker’s stock worth $17,872,000 after acquiring an additional 31,803 shares in the last quarter. Quarry LP lifted its position in shares of CTS by 572.4% during the fourth quarter. Quarry LP now owns 659 shares of the electronics maker’s stock worth $35,000 after purchasing an additional 561 shares in the last quarter. Voya Investment Management LLC boosted its stake in shares of CTS by 13.4% in the fourth quarter. Voya Investment Management LLC now owns 105,518 shares of the electronics maker’s stock valued at $5,564,000 after purchasing an additional 12,490 shares during the period. T. Rowe Price Investment Management Inc. grew its holdings in CTS by 3.4% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,218,002 shares of the electronics maker’s stock valued at $116,956,000 after purchasing an additional 73,435 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in CTS by 7.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 26,892 shares of the electronics maker’s stock worth $1,419,000 after buying an additional 1,902 shares during the period. Institutional investors and hedge funds own 96.87% of the company’s stock.

CTS Price Performance

Shares of NYSE CTS opened at $43.29 on Wednesday. The company has a quick ratio of 1.95, a current ratio of 2.50 and a debt-to-equity ratio of 0.17. CTS Co. has a fifty-two week low of $34.02 and a fifty-two week high of $59.68. The business has a 50 day moving average price of $40.00 and a two-hundred day moving average price of $47.44. The firm has a market cap of $1.29 billion, a PE ratio of 22.78 and a beta of 0.76.

CTS (NYSE:CTS) last released its quarterly earnings results on Wednesday, April 30th. The electronics maker reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.05). The company had revenue of $125.77 million for the quarter, compared to analyst estimates of $128.72 million. CTS had a return on equity of 12.67% and a net margin of 11.27%. Sell-side analysts expect that CTS Co. will post 2.28 earnings per share for the current fiscal year.

CTS Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Friday, June 27th will be given a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.37%. The ex-dividend date is Friday, June 27th. CTS’s payout ratio is currently 8.08%.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of CTS from a “hold” rating to a “buy” rating in a research report on Monday, March 3rd.

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.