Envestnet Asset Management Inc. Sells 38,620 Shares of CTS Co. (NYSE:CTS)

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Envestnet Asset Management Inc. decreased its position in CTS Co. (NYSE:CTS) by 53.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 33,803 shares of the electronics maker’s stock after selling 38,620 shares during the period. Envestnet Asset Management Inc.’s holdings in CTS were worth $677,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Comerica Bank increased its holdings in shares of CTS by 1.8% during the 1st quarter. Comerica Bank now owns 33,493 shares of the electronics maker’s stock worth $738,000 after acquiring an additional 582 shares during the last quarter. Swiss National Bank increased its holdings in shares of CTS by 1.2% during the 1st quarter. Swiss National Bank now owns 60,100 shares of the electronics maker’s stock worth $1,496,000 after acquiring an additional 700 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake in CTS by 9.6% in the 1st quarter. BNP Paribas Arbitrage SA now owns 12,953 shares of the electronics maker’s stock valued at $322,000 after purchasing an additional 1,132 shares during the period. Tower Research Capital LLC TRC boosted its stake in CTS by 816.9% in the 1st quarter. Tower Research Capital LLC TRC now owns 1,467 shares of the electronics maker’s stock valued at $37,000 after purchasing an additional 1,307 shares during the period. Finally, Two Sigma Advisers LP boosted its stake in CTS by 7.2% in the 1st quarter. Two Sigma Advisers LP now owns 23,914 shares of the electronics maker’s stock valued at $595,000 after purchasing an additional 1,600 shares during the period. Institutional investors and hedge funds own 93.11% of the company’s stock.

Several analysts recently issued reports on the company. Stephens restated a “hold” rating and issued a $25.00 price target on shares of CTS in a research note on Friday, April 24th. Zacks Investment Research upgraded CTS from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 1st.

CTS opened at $19.86 on Friday. The business has a fifty day simple moving average of $19.86 and a 200 day simple moving average of $23.41. The company has a market capitalization of $640.68 million, a PE ratio of 22.83 and a beta of 0.83. CTS Co. has a 1 year low of $17.92 and a 1 year high of $34.29. The company has a debt-to-equity ratio of 0.44, a current ratio of 3.04 and a quick ratio of 2.55.

CTS (NYSE:CTS) last released its earnings results on Friday, July 31st. The electronics maker reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.09. The firm had revenue of $84.20 million during the quarter, compared to the consensus estimate of $88.93 million. CTS had a return on equity of 10.31% and a net margin of 6.28%. The company’s revenue was down 30.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.40 EPS. Equities analysts anticipate that CTS Co. will post 0.6 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, July 24th. Stockholders of record on Friday, June 19th were given a dividend of $0.04 per share. The ex-dividend date of this dividend was Thursday, June 18th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.81%. CTS’s payout ratio is 11.03%.

CTS Profile

CTS Corporation designs, manufactures, and sells a range of sensors, electronic components, and actuators primarily to original equipment manufacturers for the aerospace and defense, industrial, information technology, medical, telecommunications, and transportation markets. It offers sensors and actuators for use in passenger or consumer vehicles; electronic components for use in telecommunications infrastructure, information technology and other high-speed applications, switches, and potentiometers supplied to various markets; and fabricated piezoelectric materials and substrates used primarily in medical, industrial, aerospace and defense, and information technology markets.

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Institutional Ownership by Quarter for CTS (NYSE:CTS)

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