CTS Corporation (NYSE:CTS) Short Interest Update

CTS Corporation (NYSE:CTS) saw a large decline in short interest in December. As of December 31st, there was short interest totaling 419,350 shares, a decline of 23.0% from the December 15th total of 544,417 shares. Based on an average daily trading volume, of 207,967 shares, the short-interest ratio is currently 2.0 days. Currently, 1.5% of the shares of the stock are sold short. Currently, 1.5% of the shares of the stock are sold short. Based on an average daily trading volume, of 207,967 shares, the short-interest ratio is currently 2.0 days.

Analysts Set New Price Targets

CTS has been the subject of several research reports. Wall Street Zen cut CTS from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 4th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of CTS in a report on Wednesday, October 8th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has an average rating of “Hold”.

Hedge Funds Weigh In On CTS

A number of hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada raised its position in CTS by 11.2% in the first quarter. Royal Bank of Canada now owns 7,036 shares of the electronics maker’s stock valued at $292,000 after purchasing an additional 710 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of CTS by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,904 shares of the electronics maker’s stock valued at $744,000 after buying an additional 785 shares in the last quarter. Captrust Financial Advisors raised its holdings in shares of CTS by 12.1% in the 2nd quarter. Captrust Financial Advisors now owns 8,113 shares of the electronics maker’s stock valued at $346,000 after buying an additional 876 shares during the period. Amundi raised its holdings in shares of CTS by 9.7% in the 1st quarter. Amundi now owns 11,542 shares of the electronics maker’s stock valued at $480,000 after buying an additional 1,019 shares during the period. Finally, Lazard Asset Management LLC lifted its stake in CTS by 4.3% during the 2nd quarter. Lazard Asset Management LLC now owns 31,664 shares of the electronics maker’s stock worth $1,349,000 after acquiring an additional 1,299 shares in the last quarter. Hedge funds and other institutional investors own 96.87% of the company’s stock.

CTS Trading Down 0.1%

CTS stock traded down $0.06 during trading on Monday, reaching $48.34. 130,364 shares of the stock were exchanged, compared to its average volume of 111,844. The company has a current ratio of 2.64, a quick ratio of 2.12 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $1.40 billion, a price-to-earnings ratio of 24.54, a P/E/G ratio of 1.26 and a beta of 0.91. The business has a 50 day moving average price of $43.98 and a 200-day moving average price of $42.08. CTS has a 1 year low of $34.02 and a 1 year high of $53.28.

CTS (NYSE:CTS) last announced its quarterly 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). CTS had a return on equity of 11.92% and a net margin of 11.14%.The firm had revenue of $142.97 million for the quarter, compared to analyst estimates of $136.40 million. CTS has set its FY 2025 guidance at 2.200-2.250 EPS. On average, research analysts predict that CTS will post 2.28 earnings per share for the current year.

CTS Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 23rd. Stockholders of record on Friday, December 26th will be issued a dividend of $0.04 per share. The ex-dividend date is Friday, December 26th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.3%. CTS’s dividend payout ratio is currently 8.12%.

CTS declared that its Board of Directors has authorized a stock buyback program on Friday, November 7th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the electronics maker to reacquire up to 8.5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

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.