CTS Co. (NYSE:CTS) Short Interest Down 6.7% in October

by · The Cerbat Gem

CTS Co. (NYSE:CTS – Get Free Report) was the recipient of a significant decrease in short interest in October. As of October 15th, there was short interest totalling 776,100 shares, a decrease of 6.7% from the September 30th total of 831,900 shares. Based on an average daily trading volume, of 145,300 shares, the days-to-cover ratio is currently 5.3 days. Currently, 2.6% of the shares of the stock are sold short.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Scotiabank downgraded shares of CTS from a “strong-buy” rating to a “hold” rating in a report on Friday, October 25th. StockNews.com upgraded shares of CTS from a “hold” rating to a “buy” rating in a research report on Thursday, October 10th.

Check Out Our Latest Report on CTS

Institutional Investors Weigh In On CTS

Large investors have recently made changes to their positions in the business. Innealta Capital LLC bought a new stake in CTS in the second quarter valued at $27,000. GAMMA Investing LLC raised its holdings in CTS by 132.5% in the third quarter. GAMMA Investing LLC now owns 586 shares of the electronics maker’s stock worth $28,000 after purchasing an additional 334 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of CTS during the 2nd quarter valued at $41,000. Central Pacific Bank Trust Division bought a new position in shares of CTS in the 1st quarter worth about $46,000. Finally, Hantz Financial Services Inc. bought a new stake in CTS during the second quarter worth about $157,000. 96.87% of the stock is currently owned by institutional investors.

CTS Trading Up 2.5 %

CTS traded up $1.25 on Friday, hitting $50.74. 18,149 shares of the company were exchanged, compared to its average volume of 148,549. The stock has a market capitalization of $1.53 billion, a PE ratio of 25.53 and a beta of 0.57. CTS has a 12 month low of $37.60 and a 12 month high of $55.47. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.85 and a current ratio of 2.46. The firm has a fifty day simple moving average of $47.85 and a two-hundred day simple moving average of $49.15.

CTS (NYSE:CTS – Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The electronics maker reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.06. CTS had a net margin of 11.66% and a return on equity of 12.39%. The business had revenue of $132.42 million during the quarter. During the same period in the previous year, the company earned $0.54 EPS. Sell-side analysts expect that CTS will post 2.15 earnings per share for the current year.

CTS Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, September 27th were given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date was Friday, September 27th. CTS’s payout ratio is 8.25%.

About CTS

(Get Free Report)

CTS Corporation manufactures and sells sensors, actuators, and connectivity components in North America, Europe, and Asia. The company provides encoders, rotary position sensors, slide potentiometers, industrial and commercial rotary potentiometers. It also provides non-contacting, and contacting pedals; and eBrake pedals.

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