Short Interest in CTS Co. (NYSE:CTS) Rises By 22.6%

CTS Co. (NYSE:CTS - Get Free Report) was the target of a significant increase in short interest in February. As of February 15th, there was short interest totalling 432,200 shares, an increase of 22.6% from the January 31st total of 352,400 shares. Based on an average daily trading volume, of 145,500 shares, the days-to-cover ratio is presently 3.0 days. Currently, 1.5% of the company's shares are short sold.

Insider Transactions at CTS

In other news, CEO Kieran M. O'sullivan sold 6,690 shares of CTS stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $55.83, for a total transaction of $373,502.70. Following the completion of the sale, the chief executive officer now directly owns 375,643 shares in the company, valued at $20,972,148.69. The trade was a 1.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 2.00% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CTS. Versor Investments LP acquired a new position in CTS during the third quarter valued at approximately $518,000. Royce & Associates LP raised its stake in shares of CTS by 5.4% during the third quarter. Royce & Associates LP now owns 294,513 shares of the electronics maker's stock valued at $14,249,000 after purchasing an additional 15,062 shares during the period. Quest Partners LLC purchased a new stake in shares of CTS during the third quarter valued at approximately $92,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of CTS during the third quarter valued at approximately $1,890,000. Finally, Advisors Asset Management Inc. raised its stake in shares of CTS by 53.0% during the third quarter. Advisors Asset Management Inc. now owns 5,807 shares of the electronics maker's stock valued at $281,000 after purchasing an additional 2,011 shares during the period. 96.87% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of CTS from a "hold" rating to a "buy" rating in a report on Monday, March 3rd.

CTS Trading Up 1.6 %

Shares of NYSE CTS traded up $0.68 during midday trading on Friday, reaching $43.94. 207,748 shares of the stock were exchanged, compared to its average volume of 141,447. The stock has a 50 day moving average price of $48.65 and a 200-day moving average price of $50.11. The company has a current ratio of 2.50, a quick ratio of 1.95 and a debt-to-equity ratio of 0.17. CTS has a 52-week low of $41.90 and a 52-week high of $59.68. The company has a market capitalization of $1.32 billion, a P/E ratio of 23.13 and a beta of 0.57.

CTS (NYSE:CTS - Get Free Report) last released its earnings results on Tuesday, February 4th. The electronics maker reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.06). CTS had a return on equity of 12.67% and a net margin of 11.27%. Equities research analysts expect that CTS will post 2.28 earnings per share for the current fiscal year.

CTS Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, March 28th will be given a $0.04 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $0.16 annualized dividend and a dividend yield of 0.36%. CTS's dividend payout ratio is presently 8.42%.

CTS Company 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.