Handelsbanken Fonder AB Increases Stock Holdings in CTS Co. (NYSE:CTS)

Handelsbanken Fonder AB boosted its stake in CTS Co. (NYSE:CTS) by 19.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,185 shares of the electronics maker’s stock after acquiring an additional 1,500 shares during the period. Handelsbanken Fonder AB’s holdings in CTS were worth $382,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in CTS. T. Rowe Price Investment Management Inc. boosted its stake in shares of CTS by 3.4% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,218,002 shares of the electronics maker’s stock valued at $116,956,000 after purchasing an additional 73,435 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in CTS by 1.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 392,690 shares of the electronics maker’s stock worth $20,707,000 after buying an additional 7,088 shares during the period. Northern Trust Corp lifted its holdings in CTS by 10.4% in 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. Raymond James Financial Inc. bought a new stake in CTS during the 4th quarter valued at approximately $15,852,000. Finally, Bank of New York Mellon Corp grew its holdings in shares of CTS by 1.1% during the 4th quarter. Bank of New York Mellon Corp now owns 282,737 shares of the electronics maker’s stock worth $14,909,000 after acquiring an additional 3,115 shares during the period. 96.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut CTS from a “buy” rating to a “hold” rating in a research note on Friday, May 30th.

CTS Stock Down 3.4%

CTS stock opened at $41.10 on Monday. The business has a 50 day moving average of $40.06 and a 200 day moving average of $45.49. The firm has a market cap of $1.23 billion, a PE ratio of 21.63 and a beta of 0.80. CTS Co. has a twelve month low of $34.02 and a twelve month high of $59.68. The company has a quick ratio of 1.95, a current ratio of 2.50 and a debt-to-equity ratio of 0.17.

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

CTS Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Friday, June 27th will be paid a $0.04 dividend. The ex-dividend date is Friday, June 27th. This represents a $0.16 annualized dividend and a dividend yield of 0.39%. CTS’s dividend payout ratio is presently 8.08%.

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.