Martingale Asset Management L P Grows Stake in CTS Co. (NYSE:CTS)

Martingale Asset Management L P grew its holdings in CTS Co. (NYSE:CTS - Free Report) by 72.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 35,084 shares of the electronics maker's stock after purchasing an additional 14,772 shares during the period. Martingale Asset Management L P owned about 0.12% of CTS worth $1,850,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in CTS. Smartleaf Asset Management LLC grew its stake in CTS by 608.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 737 shares of the electronics maker's stock valued at $39,000 after buying an additional 633 shares during the last quarter. KBC Group NV grew its position in CTS by 58.2% during the 4th quarter. KBC Group NV now owns 1,713 shares of the electronics maker's stock worth $90,000 after acquiring an additional 630 shares during the last quarter. Envestnet Portfolio Solutions Inc. acquired a new position in shares of CTS in the fourth quarter valued at approximately $202,000. Corient Private Wealth LLC acquired a new position in shares of CTS during the fourth quarter worth $214,000. Finally, Atria Wealth Solutions Inc. bought a new stake in shares of CTS in the 4th quarter valued at about $214,000. Institutional investors own 96.87% of the company's stock.

CTS Stock Performance

Shares of CTS stock traded down $0.57 on Wednesday, hitting $36.77. 46,735 shares of the stock were exchanged, compared to its average volume of 155,145. 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 Co. has a one year low of $34.02 and a one year high of $59.68. The firm has a market capitalization of $1.10 billion, a PE ratio of 19.35 and a beta of 0.61. The firm's 50 day moving average is $42.40 and its two-hundred day moving average is $48.66.

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

CTS Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, March 28th will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend is Friday, March 28th. CTS's dividend payout ratio (DPR) is currently 8.42%.

Analysts Set New Price Targets

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

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.