CTS Corporation (CTS) Hits New 12-Month High at $25.50
CTS Corporation (NYSE:CTS) shares hit a new 52-week high on Wednesday . The stock traded as high as $25.50 and last traded at $25.55, with a volume of 29,402 shares trading hands. The stock had previously closed at $25.30.
A number of research firms recently weighed in on CTS. BidaskClub raised shares of CTS Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, August 8th. HSBC Holdings plc downgraded shares of CTS Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, June 8th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $24.50.
The stock has a 50 day moving average price of $22.80 and a 200 day moving average price of $21.83. The firm has a market cap of $842.26 million, a price-to-earnings ratio of 28.074 and a beta of 1.22.
CTS Corporation (NYSE:CTS) last issued its quarterly earnings data on Thursday, July 27th. The electronics maker reported $0.28 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.28. CTS Corporation had a return on equity of 11.54% and a net margin of 7.49%. The business had revenue of $105.70 million for the quarter, compared to the consensus estimate of $103.31 million. During the same period last year, the business earned $0.26 EPS. The firm’s revenue was up 7.1% compared to the same quarter last year. On average, equities research analysts predict that CTS Corporation will post $1.15 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 3rd. Shareholders of record on Friday, September 29th will be given a dividend of $0.04 per share. The ex-dividend date is Thursday, September 28th. This represents a $0.16 dividend on an annualized basis and a yield of 0.63%. CTS Corporation’s payout ratio is currently 17.58%.
Large investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. bought a new position in shares of CTS Corporation in the first quarter valued at approximately $123,000. Bank of Montreal Can lifted its stake in shares of CTS Corporation by 21.8% in the first quarter. Bank of Montreal Can now owns 6,304 shares of the electronics maker’s stock worth $134,000 after buying an additional 1,130 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of CTS Corporation by 7.5% in the first quarter. SG Americas Securities LLC now owns 6,463 shares of the electronics maker’s stock worth $138,000 after buying an additional 449 shares during the last quarter. Mason Street Advisors LLC boosted its holdings in shares of CTS Corporation by 7.0% during the 1st quarter. Mason Street Advisors LLC now owns 7,661 shares of the electronics maker’s stock worth $163,000 after buying an additional 502 shares during the period. Finally, Cigna Investments Inc. New bought a new stake in shares of CTS Corporation during the 2nd quarter worth $227,000. 93.36% of the stock is currently owned by institutional investors.
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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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