SummerHaven Investment Management LLC Increases Holdings in CTS Co. (NYSE:CTS)

SummerHaven Investment Management LLC boosted its position in CTS Co. (NYSE:CTS) by 1.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 17,022 shares of the electronics maker’s stock after buying an additional 255 shares during the period. SummerHaven Investment Management LLC’s holdings in CTS were worth $745,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Handelsbanken Fonder AB acquired a new stake in CTS in the fourth quarter valued at $209,000. Sendero Wealth Management LLC boosted its position in shares of CTS by 10.7% in the 4th quarter. Sendero Wealth Management LLC now owns 6,198 shares of the electronics maker’s stock worth $271,000 after buying an additional 600 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of CTS by 30.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,578 shares of the electronics maker’s stock worth $275,000 after buying an additional 1,525 shares in the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in CTS in the 3rd quarter valued at about $332,000. Finally, PNC Financial Services Group Inc. increased its holdings in CTS by 8.5% during the 3rd quarter. PNC Financial Services Group Inc. now owns 9,185 shares of the electronics maker’s stock valued at $383,000 after acquiring an additional 720 shares in the last quarter. 96.87% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at CTS

In related news, CEO Kieran M. O’sullivan sold 14,976 shares of the stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $47.13, for a total transaction of $705,818.88. Following the transaction, the chief executive officer now directly owns 501,637 shares in the company, valued at $23,642,151.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Kieran M. O’sullivan sold 14,976 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $47.13, for a total value of $705,818.88. Following the completion of the sale, the chief executive officer now directly owns 501,637 shares in the company, valued at $23,642,151.81. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Ashish Agrawal sold 800 shares of the company’s stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $47.00, for a total transaction of $37,600.00. Following the transaction, the chief financial officer now directly owns 127,977 shares of the company’s stock, valued at approximately $6,014,919. The disclosure for this sale can be found here. Insiders have sold 22,419 shares of company stock worth $1,056,090 over the last quarter. 2.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on CTS shares. Sidoti downgraded shares of CTS from a “buy” rating to a “neutral” rating and set a $46.00 price target on the stock. in a report on Wednesday, February 7th. TD Cowen upped their target price on CTS from $38.00 to $46.00 and gave the company a “market perform” rating in a research note on Wednesday, February 7th.

CTS Trading Up 1.8 %

CTS stock opened at $47.00 on Tuesday. The stock has a market cap of $1.44 billion, a PE ratio of 24.48 and a beta of 0.61. The company has a current ratio of 3.29, a quick ratio of 2.67 and a debt-to-equity ratio of 0.13. The stock has a 50-day moving average price of $45.11 and a 200 day moving average price of $42.60. CTS Co. has a 52 week low of $35.50 and a 52 week high of $47.90.

CTS (NYSE:CTS) last issued its quarterly earnings results on Tuesday, February 6th. The electronics maker reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.01. The business had revenue of $124.69 million during the quarter, compared to the consensus estimate of $124.51 million. CTS had a net margin of 11.00% and a return on equity of 13.41%. The company’s quarterly revenue was down 12.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.56 earnings per share. Equities research analysts predict that CTS Co. will post 2.3 earnings per share for the current fiscal year.

CTS Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Thursday, March 28th were paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date was Wednesday, March 27th. CTS’s dividend payout ratio is presently 8.33%.

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.