Dimensional Fund Advisors LP lowered its stake in CTS Corp. (NYSE:CTS) by 4.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,912,359 shares of the company’s stock after selling 129,556 shares during the period. Dimensional Fund Advisors LP owned 8.89% of CTS Corp. worth $52,189,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in CTS. Acrospire Investment Management LLC raised its position in CTS Corp. by 197.6% in the second quarter. Acrospire Investment Management LLC now owns 7,831 shares of the company’s stock valued at $140,000 after buying an additional 5,200 shares during the period. BNP Paribas Arbitrage SA raised its position in CTS Corp. by 104.8% in the second quarter. BNP Paribas Arbitrage SA now owns 10,174 shares of the company’s stock valued at $182,000 after buying an additional 5,207 shares during the period. Louisiana State Employees Retirement System raised its position in CTS Corp. by 0.7% in the second quarter. Louisiana State Employees Retirement System now owns 14,500 shares of the company’s stock valued at $260,000 after buying an additional 100 shares during the period. Advisors Asset Management Inc. acquired a new position in CTS Corp. during the second quarter valued at $277,000. Finally, JPMorgan Chase & Co. acquired a new position in CTS Corp. during the second quarter valued at $481,000. 91.79% of the stock is owned by institutional investors and hedge funds.
CTS Corp. (NYSE:CTS) traded down 1.82% on Friday, hitting $18.34. The stock had a trading volume of 41,439 shares. The company has a market cap of $600.78 million, a P/E ratio of 154.12 and a beta of 1.23. CTS Corp. has a 52-week low of $12.87 and a 52-week high of $20.25. The stock’s 50-day moving average is $18.70 and its 200-day moving average is $17.96.
CTS Corp. (NYSE:CTS) last released its quarterly earnings results on Friday, July 29th. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.27 by $0.01. The firm earned $98.70 million during the quarter, compared to the consensus estimate of $106.34 million. CTS Corp. had a return on equity of 10.71% and a net margin of 1.04%. The company’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.30 EPS. Analysts expect that CTS Corp. will post $1.02 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 28th. Investors of record on Friday, September 23rd will be given a $0.04 dividend. The ex-dividend date of this dividend is Wednesday, September 21st. This represents a $0.16 annualized dividend and a yield of 0.87%. CTS Corp.’s dividend payout ratio (DPR) is presently 145.45%.
In related news, CFO Ashish Agrawal sold 2,250 shares of the company’s stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $19.25, for a total value of $43,312.50. Following the completion of the transaction, the chief financial officer now directly owns 71,867 shares in the company, valued at $1,383,439.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.66% of the stock is currently owned by corporate insiders.
CTS Corp. Company Profile
CTS Corporation (CTS) is a global manufacturer of sensors, electronic components and actuators. The Company designs, manufactures and sells a line of sensors, electronic components and actuators primarily to original equipment manufacturers (OEMs) for the automotive, communications, defense and aerospace, medical, industrial and computer markets.
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