Aperio Group LLC acquired a new position in shares of CTS Co. (NYSE:CTS) in the 2nd quarter, HoldingsChannel reports. The fund acquired 6,867 shares of the electronics maker’s stock, valued at approximately $247,000.
Several other large investors have also added to or reduced their stakes in CTS. Massachusetts Financial Services Co. MA grew its holdings in CTS by 1.4% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 518,373 shares of the electronics maker’s stock valued at $18,661,000 after buying an additional 7,226 shares during the last quarter. Piedmont Investment Advisors LLC acquired a new stake in CTS during the 2nd quarter valued at $277,000. Sawgrass Asset Management LLC grew its holdings in CTS by 91.2% during the 2nd quarter. Sawgrass Asset Management LLC now owns 18,705 shares of the electronics maker’s stock valued at $673,000 after buying an additional 8,920 shares during the last quarter. Tributary Capital Management LLC acquired a new stake in CTS during the 2nd quarter valued at $11,585,000. Finally, James Investment Research Inc. acquired a new stake in CTS during the 2nd quarter valued at $2,296,000. 94.65% of the stock is owned by institutional investors and hedge funds.
In other CTS news, CEO Kieran M. O’sullivan sold 10,000 shares of the stock in a transaction on Friday, August 31st. The stock was sold at an average price of $36.42, for a total transaction of $364,200.00. Following the sale, the chief executive officer now owns 400,401 shares in the company, valued at approximately $14,582,604.42. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.86% of the stock is currently owned by corporate insiders.
Shares of NYSE:CTS opened at $36.70 on Thursday. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of 29.84 and a beta of 1.26. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.81 and a current ratio of 2.21. CTS Co. has a one year low of $22.10 and a one year high of $39.20.
CTS (NYSE:CTS) last announced its earnings results on Thursday, July 26th. The electronics maker reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.04. The firm had revenue of $118.02 million for the quarter, compared to analysts’ expectations of $113.51 million. CTS had a return on equity of 13.57% and a net margin of 3.29%. CTS’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.28 EPS. equities research analysts forecast that CTS Co. will post 1.39 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 2nd. Shareholders of record on Friday, September 28th will be issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date is Thursday, September 27th. CTS’s dividend payout ratio (DPR) is presently 13.01%.
CTS Corporation designs, manufactures, and sells a range of sensors, electronic components, and actuators primarily to original equipment manufacturers for the aerospace, defense, communications, industrial, information technology, medical, and transportation markets. The company offers sensors and actuators used in passenger or consumer vehicles; electronic components used in communications 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, defense and aerospace, and information technology markets.
Further Reading: Market Capitalization – What it Means for Investors
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