CTS Co. (NYSE:CTS) Short Interest Down 5.6% in December

CTS Co. (NYSE:CTS - Get Free Report) saw a large decline in short interest in the month of December. As of December 15th, there was short interest totalling 704,000 shares, a decline of 5.6% from the November 30th total of 745,900 shares. Approximately 2.4% of the company's shares are short sold. Based on an average daily trading volume, of 142,900 shares, the days-to-cover ratio is presently 4.9 days.

Insider Transactions at CTS

In related news, CEO Kieran M. O'sullivan sold 6,690 shares of the firm's stock in a transaction on Monday, December 9th. The stock was sold at an average price of $55.83, for a total transaction of $373,502.70. Following the sale, the chief executive officer now owns 375,643 shares of the company's stock, valued at approximately $20,972,148.69. This trade represents a 1.75 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In the last ninety days, insiders sold 59,956 shares of company stock worth $3,331,185. 2.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CTS

A number of hedge funds have recently added to or reduced their stakes in CTS. GAMMA Investing LLC lifted its holdings in shares of CTS by 132.5% during the 3rd quarter. GAMMA Investing LLC now owns 586 shares of the electronics maker's stock worth $28,000 after acquiring an additional 334 shares during the period. Canada Pension Plan Investment Board acquired a new stake in shares of CTS in the 2nd quarter valued at $41,000. Quest Partners LLC bought a new position in shares of CTS in the 3rd quarter valued at $92,000. Hantz Financial Services Inc. acquired a new position in shares of CTS during the 2nd quarter worth $157,000. Finally, Summit Trail Advisors LLC bought a new stake in shares of CTS during the 2nd quarter worth $214,000. Institutional investors own 96.87% of the company's stock.

CTS Stock Performance

Shares of CTS traded up $0.01 during trading hours on Wednesday, hitting $52.73. The company had a trading volume of 108,727 shares, compared to its average volume of 150,041. The business has a fifty day moving average of $53.92 and a 200-day moving average of $50.53. The company has a quick ratio of 1.91, a current ratio of 2.46 and a debt-to-equity ratio of 0.19. The firm has a market cap of $1.59 billion, a price-to-earnings ratio of 27.18 and a beta of 0.60. CTS has a 12 month low of $40.09 and a 12 month high of $59.68.

CTS (NYSE:CTS - Get Free Report) last posted its earnings results on Tuesday, October 29th. The electronics maker reported $0.63 EPS for the quarter, beating the consensus estimate of $0.57 by $0.06. The company had revenue of $132.42 million for the quarter. CTS had a return on equity of 12.39% and a net margin of 11.66%. During the same period in the previous year, the company posted $0.54 EPS. Equities analysts anticipate that CTS will post 2.15 EPS for the current fiscal year.

CTS Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, December 27th will be issued a dividend of $0.04 per share. The ex-dividend date is Friday, December 27th. This represents a $0.16 annualized dividend and a dividend yield of 0.30%. CTS's dividend payout ratio is presently 8.25%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. StockNews.com downgraded CTS from a "buy" rating to a "hold" rating in a research note on Thursday, November 7th. Scotiabank lowered CTS from a "strong-buy" rating to a "hold" rating in a research report on Friday, October 25th.

About CTS

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.