Chartwell Investment Partners LLC Reduces Holdings in CTS Co. (NYSE:CTS)

Chartwell Investment Partners LLC cut its holdings in shares of CTS Co. (NYSE:CTS - Free Report) by 48.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 123,142 shares of the electronics maker's stock after selling 115,430 shares during the period. Chartwell Investment Partners LLC owned about 0.41% of CTS worth $5,958,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Raymond James & Associates grew its holdings in CTS by 19.9% during the 3rd quarter. Raymond James & Associates now owns 159,105 shares of the electronics maker's stock worth $7,697,000 after acquiring an additional 26,376 shares during the period. Trust Point Inc. boosted its stake in CTS by 2.1% in the third quarter. Trust Point Inc. now owns 12,861 shares of the electronics maker's stock valued at $622,000 after acquiring an additional 270 shares during the last quarter. Creative Planning increased its holdings in CTS by 14.2% in the 3rd quarter. Creative Planning now owns 15,040 shares of the electronics maker's stock worth $728,000 after acquiring an additional 1,870 shares during the last quarter. GAMMA Investing LLC grew its holdings in CTS by 132.5% during the 3rd quarter. GAMMA Investing LLC now owns 586 shares of the electronics maker's stock valued at $28,000 after buying an additional 334 shares in the last quarter. Finally, SG Americas Securities LLC raised its holdings in shares of CTS by 129.6% in the 3rd quarter. SG Americas Securities LLC now owns 14,686 shares of the electronics maker's stock valued at $711,000 after acquiring an additional 8,290 shares in the last quarter. 96.87% of the stock is currently owned by institutional investors and hedge funds.

CTS Stock Down 1.0 %

CTS stock traded down $0.58 during trading hours on Tuesday, reaching $57.29. The stock had a trading volume of 151,098 shares, compared to its average volume of 149,899. CTS Co. has a 52 week low of $38.04 and a 52 week high of $59.68. The company has a market cap of $1.73 billion, a price-to-earnings ratio of 29.86 and a beta of 0.58. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.46 and a quick ratio of 1.91. The business's 50 day moving average price is $48.74 and its 200-day moving average price is $49.76.

CTS (NYSE:CTS - Get Free Report) last released its earnings results on Tuesday, October 29th. The electronics maker reported $0.63 EPS for the quarter, topping analysts' consensus estimates of $0.57 by $0.06. The company had revenue of $132.42 million during the quarter. CTS had a net margin of 11.66% and a return on equity of 12.39%. During the same quarter last year, the business earned $0.54 earnings per share. Sell-side analysts anticipate that CTS Co. will post 2.15 EPS for the current year.

CTS Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, December 27th will be paid a $0.04 dividend. The ex-dividend date is Friday, December 27th. This represents a $0.16 dividend on an annualized basis and a yield of 0.28%. CTS's dividend payout ratio (DPR) is 8.25%.

Analyst Ratings Changes

Several research firms have recently commented on CTS. Scotiabank cut shares of CTS from a "strong-buy" rating to a "hold" rating in a research report on Friday, October 25th. StockNews.com cut CTS from a "buy" rating to a "hold" rating in a report on Thursday, November 7th.

CTS Profile

CTS Corporation manufactures and sells sensors, actuators, and connectivity components in North America, Europe, and Asia. The company provides encoders, rotary position sensors, slide potentiometers, industrial and commercial rotary potentiometers. It also provides non-contacting, and contacting pedals; and eBrake pedals.