Bank of New York Mellon Corp Sells 11,283 Shares of CTS Corporation (NYSE:CTS)

Bank of New York Mellon Corp reduced its stake in CTS Corporation (NYSE:CTS) by 4.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 271,454 shares of the electronics maker’s stock after selling 11,283 shares during the quarter. Bank of New York Mellon Corp owned 0.90% of CTS worth $11,279,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in CTS. Quarry LP lifted its position in CTS by 572.4% in the 4th quarter. Quarry LP now owns 659 shares of the electronics maker’s stock valued at $35,000 after acquiring an additional 561 shares in the last quarter. GAMMA Investing LLC lifted its position in CTS by 81.3% in the 1st quarter. GAMMA Investing LLC now owns 1,273 shares of the electronics maker’s stock valued at $53,000 after acquiring an additional 571 shares in the last quarter. Versant Capital Management Inc lifted its position in CTS by 581.7% in the 1st quarter. Versant Capital Management Inc now owns 1,793 shares of the electronics maker’s stock valued at $74,000 after acquiring an additional 1,530 shares in the last quarter. Envestnet Portfolio Solutions Inc. bought a new stake in CTS in the 4th quarter valued at $202,000. Finally, Corient Private Wealth LLC bought a new stake in CTS in the 4th quarter valued at $214,000. 96.87% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised shares of CTS from a “hold” rating to a “buy” rating in a research report on Saturday, July 12th.

CTS Stock Down 2.1%

Shares of CTS stock opened at $41.01 on Monday. The company has a current ratio of 2.63, a quick ratio of 2.05 and a debt-to-equity ratio of 0.16. CTS Corporation has a 1 year low of $34.02 and a 1 year high of $59.68. The firm’s fifty day moving average price is $42.13 and its two-hundred day moving average price is $43.35. The firm has a market capitalization of $1.22 billion, a P/E ratio of 20.71 and a beta of 0.80.

CTS (NYSE:CTS) last issued its quarterly earnings results on Wednesday, April 30th. The electronics maker reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.05). CTS had a net margin of 11.70% and a return on equity of 12.32%. The business had revenue of $125.77 million during the quarter, compared to analyst estimates of $128.72 million. On average, equities analysts predict that CTS Corporation will post 2.28 EPS for the current fiscal year.

CTS Announces Dividend

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