Atria Wealth Solutions Inc. Makes New $245,000 Investment in CTS Co. (NYSE:CTS)

Atria Wealth Solutions Inc. acquired a new position in CTS Co. (NYSE:CTS) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 4,952 shares of the electronics maker’s stock, valued at approximately $245,000.

Several other hedge funds have also added to or reduced their stakes in CTS. Norges Bank bought a new stake in CTS in the fourth quarter worth about $10,697,000. GW&K Investment Management LLC bought a new stake in shares of CTS in the first quarter valued at approximately $8,976,000. T. Rowe Price Investment Management Inc. raised its position in shares of CTS by 5.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,331,200 shares of the electronics maker’s stock valued at $131,316,000 after purchasing an additional 162,871 shares during the period. Brown Advisory Inc. raised its position in shares of CTS by 11.1% in the first quarter. Brown Advisory Inc. now owns 1,509,170 shares of the electronics maker’s stock valued at $74,644,000 after purchasing an additional 150,754 shares during the period. Finally, Millennium Management LLC bought a new stake in shares of CTS in the second quarter valued at approximately $3,772,000. Institutional investors own 92.57% of the company’s stock.

CTS Stock Performance

CTS stock opened at $42.33 on Tuesday. The firm’s 50 day simple moving average is $43.53 and its 200 day simple moving average is $43.92. The company has a current ratio of 3.08, a quick ratio of 2.49 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $1.33 billion, a PE ratio of 23.13 and a beta of 0.71. CTS Co. has a 1-year low of $35.96 and a 1-year high of $49.59.

CTS (NYSE:CTS) last posted its earnings results on Tuesday, July 25th. The electronics maker reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.04. The business had revenue of $145.20 million for the quarter, compared to analyst estimates of $146.23 million. CTS had a net margin of 9.90% and a return on equity of 14.92%. CTS’s revenue was up .1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.62 EPS. As a group, analysts expect that CTS Co. will post 2.35 earnings per share for the current fiscal year.

CTS Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Friday, September 29th will be issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date of this dividend is Thursday, September 28th. CTS’s dividend payout ratio (DPR) is presently 8.74%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of CTS from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, September 12th.

About CTS

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.