Victory Capital Management Inc. Sells 5,702 Shares of CTS Co. (NYSE:CTS)

Victory Capital Management Inc. lowered its position in shares of CTS Co. (NYSE:CTS) by 34.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,842 shares of the electronics maker’s stock after selling 5,702 shares during the period. Victory Capital Management Inc.’s holdings in CTS were worth $549,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. boosted its holdings in CTS by 2.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 351,491 shares of the electronics maker’s stock worth $15,374,000 after buying an additional 8,248 shares during the period. Quadrant Capital Group LLC grew its holdings in CTS by 25.8% during the 4th quarter. Quadrant Capital Group LLC now owns 1,636 shares of the electronics maker’s stock valued at $72,000 after purchasing an additional 336 shares during the last quarter. Norges Bank bought a new position in CTS in the 4th quarter worth about $8,859,000. Franklin Resources Inc. grew its stake in CTS by 0.6% in the 4th quarter. Franklin Resources Inc. now owns 69,086 shares of the electronics maker’s stock worth $3,022,000 after acquiring an additional 401 shares in the last quarter. Finally, US Bancorp DE grew its stake in CTS by 6.6% in the 4th quarter. US Bancorp DE now owns 18,971 shares of the electronics maker’s stock worth $830,000 after acquiring an additional 1,177 shares in the last quarter. Institutional investors own 96.87% of the company’s stock.

CTS Trading Down 1.2 %

NYSE CTS opened at $47.99 on Monday. The company has a fifty day simple moving average of $48.37 and a two-hundred day simple moving average of $48.62. The stock has a market cap of $1.48 billion, a P/E ratio of 28.23 and a beta of 0.58. CTS Co. has a 12-month low of $35.50 and a 12-month high of $55.47. The company has a current ratio of 3.41, a quick ratio of 2.85 and a debt-to-equity ratio of 0.12.

CTS (NYSE:CTS) last released its quarterly earnings results on Tuesday, July 30th. The electronics maker reported $0.54 EPS for the quarter, beating the consensus estimate of $0.53 by $0.01. The company had revenue of $130.16 million for the quarter, compared to analyst estimates of $133.33 million. CTS had a net margin of 10.70% and a return on equity of 11.98%. The firm’s revenue was down 10.3% on a year-over-year basis. During the same quarter last year, the business earned $0.59 earnings per share. On average, analysts forecast that CTS Co. will post 2.15 earnings per share for the current year.

CTS Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, September 27th will be given a $0.04 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.16 annualized dividend and a dividend yield of 0.33%. CTS’s dividend payout ratio (DPR) is 9.41%.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of CTS from a “buy” rating to a “hold” rating in a research note on Monday, September 16th.

CTS Company Profile

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.