New York State Teachers Retirement System cut its stake in CTS Corp. (NYSE:CTS) by 8.3% during the second quarter, according to its most recent filing with the SEC. The fund owned 117,302 shares of the company’s stock after selling 10,651 shares during the period. New York State Teachers Retirement System’s holdings in CTS Corp. were worth $2,102,000 at the end of the most recent reporting period.
Several other hedge funds have also bought and sold shares of CTS. Wellington Management Group LLP raised its stake in shares of CTS Corp. by 5.1% in the first quarter. Wellington Management Group LLP now owns 2,386,832 shares of the company’s stock valued at $37,569,000 after buying an additional 115,775 shares during the period. BlackRock Fund Advisors raised its stake in shares of CTS Corp. by 0.9% in the first quarter. BlackRock Fund Advisors now owns 2,126,862 shares of the company’s stock valued at $33,477,000 after buying an additional 19,342 shares during the period. Adirondack Research & Management Inc. raised its stake in shares of CTS Corp. by 4.4% in the first quarter. Adirondack Research & Management Inc. now owns 197,232 shares of the company’s stock valued at $3,104,000 after buying an additional 8,365 shares during the period. BNP Paribas Arbitrage SA raised its stake in shares of 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. Finally, Prudential Financial Inc. raised its stake in shares of CTS Corp. by 2.4% in the first quarter. Prudential Financial Inc. now owns 77,715 shares of the company’s stock valued at $1,223,000 after buying an additional 1,800 shares during the period. 91.79% of the stock is currently owned by institutional investors.
Shares of CTS Corp. (NYSE:CTS) traded down 0.11% during mid-day trading on Friday, reaching $17.41. 56,958 shares of the company’s stock traded hands. CTS Corp. has a 12-month low of $12.87 and a 12-month high of $20.25. The stock has a 50-day moving average price of $18.52 and a 200 day moving average price of $18.03. The firm has a market capitalization of $570.32 million, a price-to-earnings ratio of 146.30 and a beta of 1.23.
CTS Corp. (NYSE:CTS) last announced its quarterly earnings results on Friday, July 29th. The company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.27 by $0.01. The company earned $98.70 million during the quarter, compared to analysts’ expectations of $106.34 million. CTS Corp. had a return on equity of 10.71% and a net margin of 1.04%. The firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.30 EPS. Analysts anticipate that CTS Corp. will post $1.02 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 28th. Shareholders of record on Friday, September 23rd will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.92%. The ex-dividend date is Wednesday, September 21st. CTS Corp.’s payout ratio is currently 145.45%.
In other CTS Corp. news, CFO Ashish Agrawal sold 2,250 shares of the business’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 sale, the chief financial officer now owns 71,867 shares in the company, valued at approximately $1,383,439.75. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.66% of the stock is currently owned by company insiders.
About CTS Corp.
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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