CTS Co. (NYSE:CTS - Get Free Report) hit a new 52-week low during trading on Thursday . The company traded as low as $41.87 and last traded at $41.92, with a volume of 20050 shares changing hands. The stock had previously closed at $42.49.
Analyst Ratings Changes
Separately, StockNews.com upgraded shares of CTS from a "hold" rating to a "buy" rating in a research report on Monday, March 3rd.
View Our Latest Stock Analysis on CTS
CTS Price Performance
The stock's 50-day moving average price is $47.64 and its 200 day moving average price is $49.89. The firm has a market capitalization of $1.28 billion, a price-to-earnings ratio of 22.46 and a beta of 0.57. The company has a quick ratio of 1.95, a current ratio of 2.50 and a debt-to-equity ratio of 0.17.
CTS (NYSE:CTS - Get Free Report) last released its quarterly earnings data 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 Co. will post 2.28 earnings per share for the current fiscal year.
CTS Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, March 28th will be given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.37%. The ex-dividend date of this dividend is Friday, March 28th. CTS's payout ratio is currently 8.42%.
Institutional Investors Weigh In On CTS
Several hedge funds and other institutional investors have recently bought and sold shares of CTS. Wasatch Advisors LP boosted its stake in CTS by 23.1% during the third quarter. Wasatch Advisors LP now owns 1,993,863 shares of the electronics maker's stock worth $96,463,000 after buying an additional 374,104 shares during the period. Raymond James Financial Inc. purchased a new position in shares of CTS in the fourth quarter valued at approximately $15,852,000. Weiss Asset Management LP purchased a new position in shares of CTS in the third quarter valued at approximately $4,960,000. Norges Bank purchased a new position in shares of CTS in the fourth quarter valued at approximately $4,439,000. Finally, T. Rowe Price Investment Management Inc. boosted its stake in shares of CTS by 3.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,218,002 shares of the electronics maker's stock valued at $116,956,000 after purchasing an additional 73,435 shares during the period. 96.87% of the stock is currently owned by institutional investors and hedge funds.
About CTS
(
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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.
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