Chartwell Investment Partners LLC Sells 52,833 Shares of CTS Corporation (CTS)
Chartwell Investment Partners LLC reduced its holdings in CTS Corporation (NYSE:CTS) by 11.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 393,485 shares of the electronics maker’s stock after selling 52,833 shares during the period. Chartwell Investment Partners LLC owned about 1.19% of CTS Corporation worth $9,482,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of CTS Corporation by 3.6% in the 1st quarter. Vanguard Group Inc. now owns 1,724,049 shares of the electronics maker’s stock worth $36,723,000 after buying an additional 59,636 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of CTS Corporation by 86.1% during the 1st quarter. Bank of America Corp DE now owns 52,783 shares of the electronics maker’s stock worth $1,124,000 after purchasing an additional 24,419 shares in the last quarter. SG Americas Securities LLC acquired a new stake in CTS Corporation in the 3rd quarter valued at $387,000. Wedge Capital Management L L P NC raised its position in CTS Corporation by 35.6% in the 3rd quarter. Wedge Capital Management L L P NC now owns 60,150 shares of the electronics maker’s stock valued at $1,450,000 after purchasing an additional 15,800 shares during the last quarter. Finally, Cigna Investments Inc. New bought a new position in CTS Corporation in the 2nd quarter valued at $227,000. 92.71% of the stock is currently owned by institutional investors and hedge funds.
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CTS Corporation (NYSE:CTS) traded up $0.45 during trading on Wednesday, hitting $28.05. 123,600 shares of the stock traded hands, compared to its average volume of 74,368. The company has a current ratio of 2.28, a quick ratio of 1.93 and a debt-to-equity ratio of 0.24. CTS Corporation has a 52-week low of $19.30 and a 52-week high of $28.30. The company has a market capitalization of $909.06, a PE ratio of 24.21 and a beta of 1.13.
CTS Corporation (NYSE:CTS) last posted its quarterly earnings results on Thursday, October 26th. The electronics maker reported $0.31 EPS for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.02. The firm had revenue of $106.20 million for the quarter, compared to analysts’ expectations of $105.56 million. CTS Corporation had a net margin of 8.79% and a return on equity of 11.47%. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.28 earnings per share. equities research analysts forecast that CTS Corporation will post 1.13 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, February 2nd. Shareholders of record on Friday, December 29th will be issued a $0.04 dividend. The ex-dividend date is Thursday, December 28th. This represents a $0.16 dividend on an annualized basis and a yield of 0.57%. CTS Corporation’s dividend payout ratio is currently 14.68%.
Separately, BidaskClub lowered CTS Corporation from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $24.50.
About CTS Corporation
CTS Corporation is a manufacturer of sensors, electronic components and actuators. The Company designs, manufactures and sells a line of sensors, electronic components and actuators primarily to original equipment manufacturers (OEMs) for the transportation, industrial, medical, information technology, defense and aerospace, and communications markets.
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