Maryland State Retirement & Pension System Sells 1,466 Shares of CTS Corporation (NYSE:CTS)

Maryland State Retirement & Pension System lessened its holdings in shares of CTS Corporation (NYSE:CTS) by 14.3% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,788 shares of the electronics maker’s stock after selling 1,466 shares during the quarter. Maryland State Retirement & Pension System’s holdings in CTS were worth $365,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quarry LP boosted its position in 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 during the period. Meeder Asset Management Inc. bought a new position in CTS during the first quarter worth about $37,000. GAMMA Investing LLC boosted its position in CTS by 81.3% during the first quarter. GAMMA Investing LLC now owns 1,273 shares of the electronics maker’s stock worth $53,000 after purchasing an additional 571 shares during the period. Versant Capital Management Inc boosted its position in CTS by 581.7% during the first quarter. Versant Capital Management Inc now owns 1,793 shares of the electronics maker’s stock worth $74,000 after purchasing an additional 1,530 shares during the period. Finally, Larson Financial Group LLC bought a new position in CTS during the first quarter worth about $75,000. Institutional investors own 96.87% of the company’s stock.

CTS Price Performance

CTS stock opened at $41.04 on Friday. The firm has a 50 day moving average of $41.65 and a 200-day moving average of $41.85. The company has a current ratio of 2.61, a quick ratio of 2.04 and a debt-to-equity ratio of 0.16. CTS Corporation has a 12 month low of $34.02 and a 12 month high of $59.68. The firm has a market capitalization of $1.21 billion, a P/E ratio of 19.36, a price-to-earnings-growth ratio of 1.14 and a beta of 0.82.

CTS (NYSE:CTS) last released its quarterly earnings data on Thursday, July 24th. The electronics maker reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.02. CTS had a net margin of 12.32% and a return on equity of 12.31%. The company had revenue of $135.30 million during the quarter, compared to analyst estimates of $132.65 million. During the same period last year, the business earned $0.54 earnings per share. As a group, sell-side analysts predict that CTS Corporation will post 2.28 earnings per share for the current fiscal year.

CTS Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 24th. Stockholders of record on Friday, September 26th will be given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Friday, September 26th. CTS’s dividend payout ratio (DPR) is 7.55%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of CTS from a “hold” rating to a “buy” rating in a research report on Saturday, July 12th.

CTS 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.