CTS (NYSE:CTS) Sets New 52-Week Low on Disappointing Earnings

CTS Co. (NYSE:CTS) hit a new 52-week low during trading on Wednesday following a weaker than expected earnings announcement. The stock traded as low as $36.96 and last traded at $38.04, with a volume of 285384 shares traded. The stock had previously closed at $39.89.

The electronics maker reported $0.44 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.05). The firm had revenue of $125.77 million for the quarter, compared to analysts’ expectations of $128.72 million. CTS had a return on equity of 12.67% and a net margin of 11.27%.

CTS Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 25th. Investors of record on Friday, March 28th were issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date of this dividend was Friday, March 28th. CTS’s dividend payout ratio is presently 8.42%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded CTS from a “hold” rating to a “buy” rating in a research report on Monday, March 3rd.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Principal Financial Group Inc. raised its stake in shares of CTS by 2.4% in the 1st quarter. Principal Financial Group Inc. now owns 158,729 shares of the electronics maker’s stock valued at $6,595,000 after acquiring an additional 3,711 shares during the period. Illumine Investment Management LLC raised its position in CTS by 8.2% in the first quarter. Illumine Investment Management LLC now owns 12,608 shares of the electronics maker’s stock valued at $524,000 after purchasing an additional 960 shares during the period. Azzad Asset Management Inc. ADV acquired a new position in CTS during the first quarter worth $527,000. Handelsbanken Fonder AB boosted its position in shares of CTS by 19.5% during the first quarter. Handelsbanken Fonder AB now owns 9,185 shares of the electronics maker’s stock worth $382,000 after buying an additional 1,500 shares during the period. Finally, GAMMA Investing LLC grew its stake in shares of CTS by 81.3% in the first quarter. GAMMA Investing LLC now owns 1,273 shares of the electronics maker’s stock valued at $53,000 after buying an additional 571 shares in the last quarter. Hedge funds and other institutional investors own 96.87% of the company’s stock.

CTS Price Performance

The company has a fifty day moving average of $40.57 and a 200-day moving average of $47.87. The company has a current ratio of 2.50, a quick ratio of 1.95 and a debt-to-equity ratio of 0.17. The stock has a market cap of $1.17 billion, a PE ratio of 20.44 and a beta of 0.61.

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.