Mason Street Advisors LLC acquired a new stake in shares of CTS Corp. (NYSE:CTS) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 6,404 shares of the company’s stock, valued at approximately $115,000.
Several other hedge funds also recently added to or reduced their stakes in the stock. Acrospire Investment Management LLC increased its stake 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 last quarter. BlackRock Inc. increased its stake in CTS Corp. by 261.1% in the second quarter. BlackRock Inc. now owns 9,352 shares of the company’s stock valued at $168,000 after buying an additional 6,762 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake 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 last quarter. Panagora Asset Management Inc. increased its stake in CTS Corp. by 160.8% in the second quarter. Panagora Asset Management Inc. now owns 10,793 shares of the company’s stock valued at $193,000 after buying an additional 6,655 shares during the last quarter. Finally, Profund Advisors LLC increased its stake in CTS Corp. by 4.7% in the second quarter. Profund Advisors LLC now owns 10,860 shares of the company’s stock valued at $195,000 after buying an additional 490 shares during the last quarter. Institutional investors own 91.77% of the company’s stock.
CTS Corp. (NYSE:CTS) opened at 17.18 on Tuesday. The firm’s 50-day moving average is $18.46 and its 200-day moving average is $18.07. The stock has a market capitalization of $562.78 million, a P/E ratio of 144.37 and a beta of 1.23. CTS Corp. has a 12-month low of $12.87 and a 12-month high of $20.25.
CTS Corp. (NYSE:CTS) last released its quarterly earnings data on Friday, July 29th. The company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by $0.01. The company had revenue of $98.70 million for the quarter, compared to analysts’ expectations of $106.34 million. CTS Corp. had a net margin of 1.04% and a return on equity of 10.71%. The business’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period last year, the company posted $0.30 EPS. Analysts predict that CTS Corp. will post $1.02 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 28th. Investors of record on Friday, September 23rd will be issued a dividend of $0.04 per share. The ex-dividend date is Wednesday, September 21st. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.93%. CTS Corp.’s dividend payout ratio is presently 145.45%.
In related news, CFO Ashish Agrawal sold 2,250 shares of the company’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $19.25, for a total transaction of $43,312.50. Following the completion of the transaction, the chief financial officer now owns 71,867 shares in the company, valued at $1,383,439.75. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.66% of the company’s stock.
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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