ClariVest Asset Management LLC trimmed its position in CTS Co. (NYSE:CTS) by 17.0% in the fourth quarter, HoldingsChannel reports. The firm owned 3,382 shares of the electronics maker’s stock after selling 694 shares during the quarter. ClariVest Asset Management LLC’s holdings in CTS were worth $87,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. PNC Financial Services Group Inc. lifted its stake in CTS by 10.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 24,921 shares of the electronics maker’s stock worth $856,000 after purchasing an additional 2,318 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its holdings in shares of CTS by 187.3% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 37,884 shares of the electronics maker’s stock worth $1,299,000 after buying an additional 24,700 shares during the last quarter. MetLife Investment Advisors LLC increased its holdings in shares of CTS by 53.2% in the 3rd quarter. MetLife Investment Advisors LLC now owns 24,057 shares of the electronics maker’s stock worth $825,000 after buying an additional 8,356 shares during the last quarter. Advisors Asset Management Inc. increased its holdings in shares of CTS by 152.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 5,742 shares of the electronics maker’s stock worth $197,000 after buying an additional 3,464 shares during the last quarter. Finally, Arizona State Retirement System increased its holdings in shares of CTS by 6.2% in the 4th quarter. Arizona State Retirement System now owns 50,954 shares of the electronics maker’s stock worth $1,319,000 after buying an additional 2,957 shares during the last quarter. 92.63% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE:CTS opened at $30.97 on Friday. The firm has a market capitalization of $1.00 billion, a PE ratio of 20.24 and a beta of 1.32. CTS Co. has a one year low of $24.07 and a one year high of $39.20. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.88 and a current ratio of 2.30.
CTS (NYSE:CTS) last issued its quarterly earnings results on Tuesday, February 5th. The electronics maker reported $0.41 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.41. The firm had revenue of $120.10 million for the quarter, compared to analyst estimates of $117.00 million. CTS had a net margin of 9.89% and a return on equity of 14.09%. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.39 EPS. Research analysts expect that CTS Co. will post 1.6 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, April 19th. Stockholders of record on Friday, March 15th will be issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date is Thursday, March 14th. CTS’s payout ratio is 10.46%.
Separately, Zacks Investment Research lowered shares of CTS from a “hold” rating to a “sell” rating in a report on Wednesday.
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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.
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