CTS Co. (NYSE:CTS) Short Interest Up 30.9% in July

CTS Co. (NYSE:CTS) was the target of a large increase in short interest in July. As of July 15th, there was short interest totalling 662,400 shares, an increase of 30.9% from the June 30th total of 505,900 shares. Based on an average daily volume of 182,900 shares, the short-interest ratio is currently 3.6 days. Currently, 2.1% of the company’s stock are short sold.

Shares of CTS traded down $0.81 during trading hours on Friday, hitting $19.86. The company had a trading volume of 175,176 shares, compared to its average volume of 137,693. The company has a market capitalization of $640.68 million, a PE ratio of 22.83 and a beta of 0.83. The company has a current ratio of 3.04, a quick ratio of 2.55 and a debt-to-equity ratio of 0.44. CTS has a one year low of $17.92 and a one year high of $34.29. The company’s fifty day moving average price is $19.86 and its two-hundred day moving average price is $23.41.

CTS (NYSE:CTS) last announced its earnings results on Friday, July 31st. The electronics maker reported $0.16 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.07 by $0.09. CTS had a return on equity of 10.31% and a net margin of 6.28%. The company had revenue of $84.20 million for the quarter, compared to analyst estimates of $88.93 million. During the same period in the prior year, the company posted $0.40 EPS. The firm’s quarterly revenue was down 30.2% compared to the same quarter last year. Analysts forecast that CTS will post 0.6 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, July 24th. Investors of record on Friday, June 19th were given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.81%. The ex-dividend date of this dividend was Thursday, June 18th. CTS’s dividend payout ratio is currently 11.03%.

A number of large investors have recently made changes to their positions in CTS. FMR LLC increased its position in CTS by 14.0% during the 1st quarter. FMR LLC now owns 769,465 shares of the electronics maker’s stock valued at $22,599,000 after buying an additional 94,428 shares in the last quarter. UBS Group AG increased its position in CTS by 63.3% during the 4th quarter. UBS Group AG now owns 46,490 shares of the electronics maker’s stock valued at $1,395,000 after buying an additional 18,025 shares in the last quarter. Man Group plc acquired a new position in CTS during the 4th quarter valued at about $221,000. Janus Henderson Group PLC increased its position in CTS by 1.7% during the 4th quarter. Janus Henderson Group PLC now owns 357,349 shares of the electronics maker’s stock valued at $10,724,000 after buying an additional 5,926 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in CTS by 3.2% during the 4th quarter. Geode Capital Management LLC now owns 430,015 shares of the electronics maker’s stock valued at $12,904,000 after purchasing an additional 13,186 shares during the last quarter. 93.11% of the stock is currently owned by institutional investors.

A number of equities research analysts have weighed in on the company. Stephens reaffirmed a “hold” rating and set a $25.00 target price on shares of CTS in a research report on Friday, April 24th. Zacks Investment Research raised CTS from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 1st.

CTS Company Profile

CTS Corporation designs, manufactures, and sells a range of sensors, electronic components, and actuators primarily to original equipment manufacturers for the aerospace and defense, industrial, information technology, medical, telecommunications, and transportation markets. It offers sensors and actuators for use in passenger or consumer vehicles; electronic components for use in telecommunications infrastructure, information technology and other high-speed applications, switches, and potentiometers supplied to various markets; and fabricated piezoelectric materials and substrates used primarily in medical, industrial, aerospace and defense, and information technology markets.

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