CTS Corporation (NYSE:CTS) Short Interest Down 23.0% in December

CTS Corporation (NYSE:CTS) was the recipient of a significant decline in short interest in the month of December. As of December 31st, there was short interest totaling 419,350 shares, a decline of 23.0% from the December 15th total of 544,417 shares. Based on an average daily trading volume, of 207,967 shares, the short-interest ratio is presently 2.0 days. Approximately 1.5% of the company’s shares are sold short. Approximately 1.5% of the company’s shares are sold short. Based on an average daily trading volume, of 207,967 shares, the short-interest ratio is presently 2.0 days.

Institutional Trading of CTS

A number of institutional investors have recently made changes to their positions in CTS. Rhumbline Advisers lifted its position in CTS by 3.0% during the second quarter. Rhumbline Advisers now owns 89,595 shares of the electronics maker’s stock valued at $3,818,000 after purchasing an additional 2,577 shares during the period. Tudor Investment Corp ET AL grew its position in CTS by 103.4% in the 3rd quarter. Tudor Investment Corp ET AL now owns 85,266 shares of the electronics maker’s stock worth $3,406,000 after purchasing an additional 43,341 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in CTS by 11.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 70,298 shares of the electronics maker’s stock valued at $2,921,000 after buying an additional 7,144 shares during the last quarter. Jane Street Group LLC lifted its holdings in shares of CTS by 19.0% during the 1st quarter. Jane Street Group LLC now owns 59,694 shares of the electronics maker’s stock valued at $2,480,000 after buying an additional 9,530 shares during the period. Finally, Lazard Asset Management LLC lifted its holdings in shares of CTS by 4.3% during the 2nd quarter. Lazard Asset Management LLC now owns 31,664 shares of the electronics maker’s stock valued at $1,349,000 after buying an additional 1,299 shares during the period. Hedge funds and other institutional investors own 96.87% of the company’s stock.

Analyst Ratings Changes

CTS has been the subject of several research reports. Wall Street Zen lowered shares of CTS from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 4th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of CTS in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

CTS Stock Down 0.1%

NYSE:CTS traded down $0.06 on Friday, reaching $48.34. 130,364 shares of the stock traded hands, compared to its average volume of 143,293. The company has a current ratio of 2.64, a quick ratio of 2.12 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of 24.54, a PEG ratio of 1.26 and a beta of 0.91. CTS has a 12 month low of $34.02 and a 12 month high of $53.28. The company’s fifty day simple moving average is $43.84 and its 200 day simple moving average is $42.06.

CTS (NYSE:CTS) last posted its quarterly earnings results on Tuesday, October 28th. The electronics maker reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.01). CTS had a net margin of 11.14% and a return on equity of 11.92%. The firm had revenue of $142.97 million for the quarter, compared to analysts’ expectations of $136.40 million. CTS has set its FY 2025 guidance at 2.200-2.250 EPS. Equities analysts predict that CTS will post 2.28 EPS for the current fiscal year.

CTS announced that its board has approved a stock repurchase program on Friday, November 7th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the electronics maker to purchase up to 8.5% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

CTS Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 23rd. Investors of record on Friday, December 26th will be given a dividend of $0.04 per share. The ex-dividend date of this dividend is Friday, December 26th. This represents a $0.16 annualized dividend and a dividend yield of 0.3%. CTS’s dividend payout ratio (DPR) is 8.12%.

About CTS

CTS Corporation (NYSE:CTS) is a global manufacturer and supplier of electronic components and sensors, headquartered in Lisle, Illinois. Established in 1896 as the Chicago Telephone Supply Company, the firm has evolved over more than a century to become a diversified provider of high-precision products for a wide range of end markets.

The company’s core business encompasses the design, development and production of sensors and actuators, frequency control devices such as quartz crystals and filters, multilayer ceramic capacitors, and inductive components.