CTS (NYSE:CTS) Hits New 1-Year Low on Disappointing Earnings

CTS Co. (NYSE:CTS) shares reached a new 52-week low during mid-day trading on Wednesday following a weaker than expected earnings announcement. The company traded as low as $36.96 and last traded at $38.04, with a volume of 285384 shares. The stock had previously closed at $39.89.

The electronics maker reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.06). CTS had a net margin of 11.27% and a return on equity of 12.67%.

CTS Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 25th. Shareholders of record on Friday, March 28th were paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date of this dividend was Friday, March 28th. CTS’s dividend payout ratio is currently 8.42%.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Quarry LP lifted its holdings in CTS by 572.4% during the 4th quarter. Quarry LP now owns 659 shares of the electronics maker’s stock valued at $35,000 after purchasing an additional 561 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of CTS by 608.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 737 shares of the electronics maker’s stock worth $39,000 after buying an additional 633 shares during the period. GAMMA Investing LLC grew its stake in CTS by 81.3% in the 1st quarter. GAMMA Investing LLC now owns 1,273 shares of the electronics maker’s stock valued at $53,000 after buying an additional 571 shares during the last quarter. Versant Capital Management Inc grew its stake in CTS by 581.7% in the 1st quarter. Versant Capital Management Inc now owns 1,793 shares of the electronics maker’s stock valued at $74,000 after buying an additional 1,530 shares during the last quarter. Finally, KBC Group NV lifted its position in CTS by 58.2% during the fourth quarter. KBC Group NV now owns 1,713 shares of the electronics maker’s stock worth $90,000 after acquiring an additional 630 shares during the last quarter. 96.87% of the stock is currently owned by institutional investors.

CTS Trading Down 4.6 %

The company has a market cap of $1.14 billion, a P/E ratio of 20.02 and a beta of 0.61. The business has a fifty day moving average price of $40.69 and a 200-day moving average price of $47.93. 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 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.