CTS (NYSE:CTS) Hits New 52-Week High – Time to Buy?

CTS Corporation (NYSE:CTS)’s share price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $52.80 and last traded at $50.9850, with a volume of 21485 shares traded. The stock had previously closed at $51.07.

Analyst Ratings Changes

CTS has been the topic of several recent analyst reports. Wall Street Zen lowered shares of CTS from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 4th. Weiss Ratings reissued a “hold (c)” rating on shares of CTS in a research report on Wednesday, January 21st. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has a consensus rating of “Hold”.

CTS Stock Performance

The stock’s 50 day moving average is $44.95 and its two-hundred day moving average is $42.37. The stock has a market capitalization of $1.48 billion, a price-to-earnings ratio of 25.81, a price-to-earnings-growth ratio of 1.31 and a beta of 0.91. The company has a current ratio of 2.64, a quick ratio of 2.12 and a debt-to-equity ratio of 0.17.

CTS (NYSE:CTS) last announced its earnings results on Tuesday, October 28th. The electronics maker reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.01). The firm had revenue of $142.97 million during the quarter, compared to analyst estimates of $136.40 million. CTS had a net margin of 11.14% and a return on equity of 11.92%. Analysts expect that CTS Corporation will post 2.28 earnings per share for the current fiscal year.

CTS Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 23rd. Investors of record on Friday, December 26th were issued a dividend of $0.04 per share. The ex-dividend date was Friday, December 26th. This represents a $0.16 annualized dividend and a yield of 0.3%. CTS’s dividend payout ratio is presently 8.12%.

CTS declared that its board has authorized a share repurchase plan on Friday, November 7th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the electronics maker to reacquire up to 8.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Institutional Trading of CTS

Institutional investors and hedge funds have recently bought and sold shares of the stock. Rhumbline Advisers grew its stake in shares of CTS by 3.0% in the second quarter. Rhumbline Advisers now owns 89,595 shares of the electronics maker’s stock valued at $3,818,000 after buying an additional 2,577 shares in the last quarter. Tudor Investment Corp ET AL grew its position in shares of CTS by 103.4% in the 3rd quarter. Tudor Investment Corp ET AL now owns 85,266 shares of the electronics maker’s stock valued at $3,406,000 after acquiring an additional 43,341 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of CTS by 11.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 70,298 shares of the electronics maker’s stock worth $2,921,000 after purchasing an additional 7,144 shares during the last quarter. Jane Street Group LLC raised its holdings in shares of CTS by 19.0% in the 1st quarter. Jane Street Group LLC now owns 59,694 shares of the electronics maker’s stock valued at $2,480,000 after purchasing an additional 9,530 shares during the period. Finally, Lazard Asset Management LLC lifted its stake in CTS by 4.3% in the 2nd quarter. Lazard Asset Management LLC now owns 31,664 shares of the electronics maker’s stock valued at $1,349,000 after purchasing an additional 1,299 shares during the last quarter. Institutional investors own 96.87% of the company’s stock.

CTS Company Profile

CTS Corporation (NYSE:CTS) is a global manufacturer and supplier of electronic components and sensors, headquartered in Lisle, Illinois. Established in 1896 as the Chicago Telephone Supply Company, the firm has evolved over more than a century to become a diversified provider of high-precision products for a wide range of end markets.

The company’s core business encompasses the design, development and production of sensors and actuators, frequency control devices such as quartz crystals and filters, multilayer ceramic capacitors, and inductive components.