CTS Corporation (NYSE:CTS) Short Interest Up 77.0% in June

CTS Corporation (NYSE:CTS) saw a large increase in short interest during the month of June. As of June 30th, there was short interest totaling 1,098,310 shares, an increase of 77.0% from the June 15th total of 620,528 shares. Based on an average daily volume of 499,116 shares, the short-interest ratio is presently 2.2 days. Currently, 3.9% of the shares of the company are sold short.

Hedge Funds Weigh In On CTS

Several hedge funds have recently made changes to their positions in CTS. Parallel Advisors LLC lifted its holdings in CTS by 308.5% during the 1st quarter. Parallel Advisors LLC now owns 1,401 shares of the electronics maker’s stock worth $67,000 after purchasing an additional 1,058 shares in the last quarter. GAMMA Investing LLC increased its position in shares of CTS by 29.6% during the second quarter. GAMMA Investing LLC now owns 1,046 shares of the electronics maker’s stock valued at $68,000 after buying an additional 239 shares during the period. Royal Bank of Canada lifted its holdings in shares of CTS by 11.2% in the first quarter. Royal Bank of Canada now owns 7,036 shares of the electronics maker’s stock worth $292,000 after buying an additional 710 shares in the last quarter. Entropy Technologies LP bought a new position in shares of CTS in the third quarter valued at approximately $341,000. Finally, Captrust Financial Advisors boosted its position in shares of CTS by 12.1% in the second quarter. Captrust Financial Advisors now owns 8,113 shares of the electronics maker’s stock valued at $346,000 after acquiring an additional 876 shares during the period. 96.87% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CTS. Zacks Research downgraded CTS from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 29th. Weiss Ratings reissued a “hold (c+)” rating on shares of CTS in a research report on Tuesday, May 26th. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Hold”.

CTS Stock Performance

Shares of CTS traded down $0.17 during trading hours on Friday, hitting $59.31. The company’s stock had a trading volume of 205,042 shares, compared to its average volume of 331,463. The business has a 50 day simple moving average of $62.97 and a two-hundred day simple moving average of $55.28. CTS has a 52-week low of $36.03 and a 52-week high of $69.55. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.52 and a quick ratio of 1.98. The company has a market cap of $1.70 billion, a price-to-earnings ratio of 25.35, a PEG ratio of 1.53 and a beta of 1.04.

CTS (NYSE:CTS) last announced its quarterly earnings results on Wednesday, April 29th. The electronics maker reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.10. The company had revenue of $139.23 million for the quarter, compared to analysts’ expectations of $136.83 million. CTS had a net margin of 12.46% and a return on equity of 12.90%. CTS has set its FY 2026 guidance at 2.350-2.450 EPS. On average, equities analysts expect that CTS will post 2.43 earnings per share for the current fiscal year.

CTS Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 24th. Stockholders of record on Friday, June 26th will be issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Friday, June 26th. CTS’s dividend payout ratio (DPR) is presently 6.84%.

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.