CTS Co. to Issue Quarterly Dividend of $0.04 (NYSE:CTS)

CTS Co. (NYSE:CTSGet Rating) declared a quarterly dividend on Monday, May 16th, Wall Street Journal reports. Stockholders of record on Friday, June 17th will be paid a dividend of 0.04 per share by the electronics maker on Friday, July 22nd. This represents a $0.16 annualized dividend and a dividend yield of 0.43%. The ex-dividend date of this dividend is Thursday, June 16th.

CTS has a dividend payout ratio of 6.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect CTS to earn $2.30 per share next year, which means the company should continue to be able to cover its $0.16 annual dividend with an expected future payout ratio of 7.0%.

Shares of CTS stock traded up $0.72 on Monday, hitting $36.87. 3,630 shares of the company’s stock were exchanged, compared to its average volume of 113,232. The company has a 50-day simple moving average of $35.28 and a 200-day simple moving average of $35.49. The stock has a market capitalization of $1.18 billion, a PE ratio of -35.83 and a beta of 0.67. CTS has a 1 year low of $28.72 and a 1 year high of $39.49. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.08 and a current ratio of 2.54.

CTS (NYSE:CTSGet Rating) last issued its quarterly earnings results on Thursday, April 28th. The electronics maker reported $0.67 EPS for the quarter, beating the consensus estimate of $0.53 by $0.14. The company had revenue of $147.70 million for the quarter, compared to the consensus estimate of $134.15 million. CTS had a negative net margin of 6.32% and a positive return on equity of 14.93%. The firm’s revenue was up 15.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.46 EPS. On average, analysts expect that CTS will post 2.33 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of CTS by 14.1% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 27,781 shares of the electronics maker’s stock valued at $982,000 after buying an additional 3,425 shares during the last quarter. Credit Suisse AG boosted its holdings in shares of CTS by 6.9% in the fourth quarter. Credit Suisse AG now owns 24,541 shares of the electronics maker’s stock valued at $901,000 after acquiring an additional 1,591 shares in the last quarter. American Century Companies Inc. acquired a new position in shares of CTS during the 1st quarter worth approximately $870,000. State of Tennessee Treasury Department raised its position in shares of CTS by 4.4% during the 4th quarter. State of Tennessee Treasury Department now owns 20,248 shares of the electronics maker’s stock worth $744,000 after purchasing an additional 852 shares during the last quarter. Finally, Deutsche Bank AG raised its position in shares of CTS by 6.7% during the 4th quarter. Deutsche Bank AG now owns 20,103 shares of the electronics maker’s stock worth $738,000 after purchasing an additional 1,258 shares during the last quarter. Institutional investors and hedge funds own 91.02% of the company’s stock.

A number of equities analysts recently weighed in on CTS shares. StockNews.com raised CTS from a “buy” rating to a “strong-buy” rating in a report on Friday, May 6th. Sidoti raised shares of CTS from a “neutral” rating to a “buy” rating and set a $40.00 price target on the stock in a research report on Monday, January 31st. Zacks Investment Research cut shares of CTS from a “buy” rating to a “hold” rating in a research report on Tuesday, May 3rd. Finally, TheStreet cut shares of CTS from a “b-” rating to a “c” rating in a research report on Tuesday, April 26th. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $31.75.

CTS Company Profile (Get Rating)

CTS Corporation manufactures and sells sensors, actuators, and connectivity components in North America, Europe, and Asia. The company provides sensors and actuators for use in passenger or commercial vehicles; connectivity components for telecommunications infrastructure, information technology, and other high-speed applications; switches, temperature sensors, and potentiometers supplied to multiple markets; and fabricated piezoelectric materials and substrates used primarily in medical, industrial, aerospace and defense, and information technology markets.

Featured Stories

Dividend History for CTS (NYSE:CTS)

Receive News & Ratings for CTS Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CTS and related companies with MarketBeat.com's FREE daily email newsletter.