CTS Co. (NYSE:CTS) Sees Large Growth in Short Interest

CTS Co. (NYSE:CTS - Get Free Report) saw a large growth in short interest in the month of September. As of September 15th, there was short interest totalling 900,700 shares, a growth of 7.8% from the August 31st total of 835,700 shares. Based on an average daily volume of 157,500 shares, the short-interest ratio is presently 5.7 days. Currently, 3.0% of the shares of the company are short sold.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of CTS from a "buy" rating to a "hold" rating in a report on Monday, September 16th.

Institutional Trading of CTS

Hedge funds and other institutional investors have recently modified their holdings of the company. Wellington Management Group LLP lifted its holdings in shares of CTS by 7.6% during the 4th quarter. Wellington Management Group LLP now owns 1,344,017 shares of the electronics maker's stock worth $58,787,000 after acquiring an additional 94,901 shares during the period. Wasatch Advisors LP bought a new stake in shares of CTS during the fourth quarter worth $16,197,000. Tributary Capital Management LLC boosted its holdings in CTS by 11.3% during the first quarter. Tributary Capital Management LLC now owns 307,176 shares of the electronics maker's stock worth $14,373,000 after purchasing an additional 31,069 shares during the last quarter. Earnest Partners LLC increased its stake in shares of CTS by 3.0% during the 2nd quarter. Earnest Partners LLC now owns 1,735,534 shares of the electronics maker's stock worth $87,870,000 after purchasing an additional 50,632 shares during the last quarter. Finally, Raymond James & Associates raised its position in shares of CTS by 55.1% in the second quarter. Raymond James & Associates now owns 132,729 shares of the electronics maker's stock valued at $6,720,000 after purchasing an additional 47,149 shares during the period. 96.87% of the stock is currently owned by hedge funds and other institutional investors.

CTS Stock Performance

Shares of CTS traded down $0.02 during mid-day trading on Monday, hitting $48.36. 97,867 shares of the company's stock were exchanged, compared to its average volume of 152,456. The business's 50 day moving average is $47.82 and its two-hundred day moving average is $48.73. CTS has a fifty-two week low of $35.50 and a fifty-two week high of $55.47. The firm has a market capitalization of $1.49 billion, a P/E ratio of 28.45 and a beta of 0.58. The company has a current ratio of 3.41, a quick ratio of 2.85 and a debt-to-equity ratio of 0.12.

CTS (NYSE:CTS - Get Free Report) last posted its quarterly earnings data on Tuesday, July 30th. The electronics maker reported $0.54 EPS for the quarter, topping analysts' consensus estimates of $0.53 by $0.01. CTS had a return on equity of 11.98% and a net margin of 10.70%. The firm had revenue of $130.16 million during the quarter, compared to analysts' expectations of $133.33 million. During the same quarter last year, the business posted $0.59 EPS. The firm's quarterly revenue was down 10.3% compared to the same quarter last year. On average, equities analysts expect that CTS will post 2.15 earnings per share for the current year.

CTS Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, September 27th will be given a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.33%. The ex-dividend date of this dividend is Friday, September 27th. CTS's dividend payout ratio (DPR) is currently 9.41%.

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.