D. E. Shaw & Co. Inc. Reduces Stake in CTS Co. (NYSE:CTS)

D. E. Shaw & Co. Inc. reduced its stake in shares of CTS Co. (NYSE:CTS) by 33.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 26,473 shares of the electronics maker’s stock after selling 13,442 shares during the quarter. D. E. Shaw & Co. Inc. owned about 0.09% of CTS worth $1,396,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Deutsche Bank AG boosted its holdings in shares of CTS by 50.9% in the 4th quarter. Deutsche Bank AG now owns 25,478 shares of the electronics maker’s stock worth $1,343,000 after purchasing an additional 8,598 shares during the period. Northern Trust Corp boosted its stake in CTS by 10.4% during the fourth quarter. Northern Trust Corp now owns 338,930 shares of the electronics maker’s stock worth $17,872,000 after buying an additional 31,803 shares during the period. Quarry LP increased its position in CTS by 572.4% during the fourth quarter. Quarry LP now owns 659 shares of the electronics maker’s stock valued at $35,000 after acquiring an additional 561 shares during the last quarter. Voya Investment Management LLC raised its stake in shares of CTS by 13.4% in the fourth quarter. Voya Investment Management LLC now owns 105,518 shares of the electronics maker’s stock valued at $5,564,000 after acquiring an additional 12,490 shares during the period. Finally, T. Rowe Price Investment Management Inc. lifted its holdings in shares of CTS by 3.4% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,218,002 shares of the electronics maker’s stock worth $116,956,000 after acquiring an additional 73,435 shares during the last quarter. 96.87% of the stock is currently owned by hedge funds and other institutional investors.

CTS Trading Down 1.2%

CTS opened at $40.51 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.95 and a current ratio of 2.50. The stock’s 50 day moving average price is $39.94 and its 200-day moving average price is $47.07. CTS Co. has a one year low of $34.02 and a one year high of $59.68. The stock has a market cap of $1.21 billion, a price-to-earnings ratio of 21.32 and a beta of 0.76.

CTS (NYSE:CTS) last posted its quarterly earnings data on Wednesday, April 30th. The electronics maker reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.05). CTS had a net margin of 11.27% and a return on equity of 12.67%. The business had revenue of $125.77 million for the quarter, compared to analysts’ expectations of $128.72 million. On average, equities analysts forecast that CTS Co. will post 2.28 EPS for the current year.

CTS Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Friday, June 27th will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.40%. The ex-dividend date is Friday, June 27th. CTS’s dividend payout ratio is presently 8.08%.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of CTS from a “hold” rating to a “buy” rating in a report on Thursday.

About CTS

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.