CTS Co. (NYSE:CTS) to Issue $0.04 Quarterly Dividend

CTS Co. (NYSE:CTSGet Rating) declared a quarterly dividend on Thursday, May 12th, Zacks reports. Shareholders of record on Friday, June 17th will be paid a dividend of 0.04 per share by the electronics maker on Wednesday, June 22nd. This represents a $0.16 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend is Thursday, June 16th.

CTS has a payout ratio of 6.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect CTS to earn $2.30 per share next year, which means the company should continue to be able to cover its $0.16 annual dividend with an expected future payout ratio of 7.0%.

Shares of NYSE CTS opened at $36.15 on Friday. The company has a current ratio of 2.54, a quick ratio of 2.08 and a debt-to-equity ratio of 0.10. CTS has a 12 month low of $28.72 and a 12 month high of $39.49. The firm has a market capitalization of $1.16 billion, a PE ratio of -35.10 and a beta of 0.67. The firm has a fifty day simple moving average of $35.28 and a two-hundred day simple moving average of $35.49.

CTS (NYSE:CTSGet Rating) last issued its quarterly earnings results on Thursday, April 28th. The electronics maker reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.14. The company had revenue of $147.70 million during the quarter, compared to analyst estimates of $134.15 million. CTS had a negative net margin of 6.32% and a positive return on equity of 14.93%. CTS’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same period last year, the business earned $0.46 EPS. On average, sell-side analysts predict that CTS will post 2.33 earnings per share for the current year.

A number of hedge funds have recently made changes to their positions in CTS. Norges Bank purchased a new stake in shares of CTS during the 4th quarter valued at about $11,849,000. BlackRock Inc. boosted its holdings in shares of CTS by 2.2% during the 4th quarter. BlackRock Inc. now owns 5,173,881 shares of the electronics maker’s stock valued at $189,983,000 after acquiring an additional 113,504 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of CTS by 3.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,521,723 shares of the electronics maker’s stock valued at $55,877,000 after acquiring an additional 51,319 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of CTS by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 2,203,937 shares of the electronics maker’s stock valued at $77,887,000 after acquiring an additional 51,223 shares during the last quarter. Finally, Millennium Management LLC boosted its holdings in shares of CTS by 151.9% during the 3rd quarter. Millennium Management LLC now owns 50,997 shares of the electronics maker’s stock valued at $1,576,000 after acquiring an additional 30,751 shares during the last quarter. 91.02% of the stock is currently owned by institutional investors.

Several research analysts recently issued reports on the stock. StockNews.com upgraded shares of CTS from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 6th. Zacks Investment Research lowered shares of CTS from a “buy” rating to a “hold” rating in a research note on Tuesday, May 3rd. TheStreet lowered shares of CTS from a “b-” rating to a “c” rating in a research note on Tuesday, April 26th. Finally, Sidoti upgraded shares of CTS from a “neutral” rating to a “buy” rating and set a $40.00 price target for the company in a research note on Monday, January 31st. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, CTS currently has an average rating of “Buy” and an average target price of $31.75.

About CTS (Get Rating)

CTS Corporation manufactures and sells sensors, actuators, and connectivity components in North America, Europe, and Asia. The company provides sensors and actuators for use in passenger or commercial vehicles; connectivity components for telecommunications infrastructure, information technology, and other high-speed applications; switches, temperature sensors, and potentiometers supplied to multiple markets; and fabricated piezoelectric materials and substrates used primarily in medical, industrial, aerospace and defense, and information technology markets.

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Dividend History for CTS (NYSE:CTS)

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