Neuberger Berman Group LLC Acquires Shares of 8,685 CTS Co. (CTS)
Neuberger Berman Group LLC acquired a new position in shares of CTS Co. (NYSE:CTS) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 8,685 shares of the electronics maker’s stock, valued at approximately $209,000.
Separately, Wedge Capital Management L L P NC boosted its position in CTS by 35.6% during the third quarter. Wedge Capital Management L L P NC now owns 60,150 shares of the electronics maker’s stock worth $1,450,000 after purchasing an additional 15,800 shares during the period. 93.81% of the stock is owned by institutional investors and hedge funds.
CTS Co. (NYSE CTS) opened at $26.85 on Friday. The company has a current ratio of 2.28, a quick ratio of 1.93 and a debt-to-equity ratio of 0.24. The firm has a market cap of $884.36, a PE ratio of 24.63 and a beta of 1.14. CTS Co. has a 1 year low of $19.30 and a 1 year high of $28.35.
CTS (NYSE:CTS) last issued its earnings results on Thursday, October 26th. The electronics maker reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.02. The firm had revenue of $106.20 million during the quarter, compared to analyst estimates of $105.56 million. CTS had a net margin of 8.79% and a return on equity of 11.47%. The company’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the business earned $0.28 earnings per share. sell-side analysts expect that CTS Co. will post 1.13 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 2nd. Shareholders of record on Friday, December 29th will be given a dividend of $0.04 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $0.16 dividend on an annualized basis and a yield of 0.60%. CTS’s dividend payout ratio is presently 14.68%.
Separately, ValuEngine lowered shares of CTS from a “buy” rating to a “hold” rating in a research report on Thursday, December 7th.
CTS Company Profile
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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