Short Interest in CTS Co. (NYSE:CTS) Increases By 7.8%

CTS Co. (NYSE:CTS) saw a large increase in short interest during the month of September. As of September 15th, there was short interest totalling 900,700 shares, an increase of 7.8% from the August 31st total of 835,700 shares. Based on an average daily trading volume, of 157,500 shares, the short-interest ratio is presently 5.7 days. Approximately 3.0% of the shares of the stock are short sold.

CTS Stock Performance

NYSE:CTS opened at $47.54 on Wednesday. The company has a market cap of $1.46 billion, a P/E ratio of 28.14 and a beta of 0.58. CTS has a twelve month low of $35.50 and a twelve month high of $55.47. The company’s 50-day moving average price is $47.70 and its 200-day moving average price is $48.76. The company has a current ratio of 3.41, a quick ratio of 2.85 and a debt-to-equity ratio of 0.12.

CTS (NYSE:CTS) last issued 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 business had revenue of $130.16 million for the quarter, compared to analysts’ expectations of $133.33 million. CTS had a return on equity of 11.98% and a net margin of 10.70%. The business’s revenue for the quarter was down 10.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.59 EPS. On average, sell-side analysts forecast that CTS will post 2.15 earnings per share for the current fiscal year.

CTS Announces Dividend

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 $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date is Friday, September 27th. CTS’s dividend payout ratio (DPR) is presently 9.41%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Creative Planning raised its position in shares of CTS by 27.6% during the 2nd quarter. Creative Planning now owns 13,170 shares of the electronics maker’s stock valued at $667,000 after buying an additional 2,852 shares during the period. The Manufacturers Life Insurance Company raised its position in CTS by 3.0% in the second quarter. The Manufacturers Life Insurance Company now owns 15,372 shares of the electronics maker’s stock valued at $778,000 after purchasing an additional 444 shares during the period. Earnest Partners LLC lifted its stake in shares of CTS by 3.0% in the 2nd quarter. Earnest Partners LLC now owns 1,735,534 shares of the electronics maker’s stock valued at $87,870,000 after purchasing an additional 50,632 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of CTS by 5.8% during the 2nd quarter. AQR Capital Management LLC now owns 5,637 shares of the electronics maker’s stock worth $285,000 after purchasing an additional 308 shares during the period. Finally, Marshall Wace LLP acquired a new stake in shares of CTS during the 2nd quarter worth about $2,662,000. Institutional investors and hedge funds own 96.87% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com downgraded CTS from a “buy” rating to a “hold” rating in a research report on Monday, September 16th.

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.