CTS Corporation (NYSE:CTS) Plans $0.04 Quarterly Dividend

Key Points

• CTS Corporation has declared a quarterly dividend of $0.04 per share, which will be paid on October 24th to investors of record as of September 26th.
• The company reported earnings of $0.57 per share for the last quarter, exceeding analysts' estimates, with revenue of $135.30 million.
• Institutional investors and hedge funds hold approximately 96.87% of CTS Corporation's stock, indicating strong institutional support for the company.

CTS Corporation (NYSE:CTS - Get Free Report) declared a quarterly dividend on Thursday, August 14th, RTT News reports. Investors of record on Friday, September 26th will be given a dividend of 0.04 per share by the electronics maker on Friday, October 24th. This represents a c) dividend on an annualized basis and a yield of 0.4%.

CTS has a dividend payout ratio of 6.6% meaning its dividend is sufficiently covered by earnings.

CTS Price Performance

NYSE CTS traded down $1.05 during trading hours on Thursday, reaching $41.55. The company's stock had a trading volume of 136,557 shares, compared to its average volume of 185,131. The firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of 19.60, a P/E/G ratio of 1.16 and a beta of 0.82. CTS has a 1-year low of $34.02 and a 1-year high of $59.68. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.61 and a quick ratio of 2.04. The company's 50-day moving average is $41.66 and its two-hundred day moving average is $41.98.

CTS (NYSE:CTS - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The electronics maker reported $0.57 earnings per share for the quarter, topping analysts' consensus estimates of $0.55 by $0.02. The company had revenue of $135.30 million during the quarter, compared to analysts' expectations of $132.65 million. CTS had a return on equity of 12.31% and a net margin of 12.32%. During the same quarter in the prior year, the firm posted $0.54 EPS. On average, equities analysts predict that CTS will post 2.28 EPS for the current year.

Hedge Funds Weigh In On CTS

Hedge funds have recently made changes to their positions in the company. Quarry LP raised its holdings in shares of 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. Meeder Asset Management Inc. acquired a new position in shares of CTS during the first quarter valued at approximately $37,000. GAMMA Investing LLC raised its holdings in shares of CTS by 81.3% during the first 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 during the last quarter. Versant Capital Management Inc raised its holdings in shares of CTS by 581.7% during the first 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 during the last quarter. Finally, Larson Financial Group LLC purchased a new stake in shares of CTS in the first quarter valued at approximately $75,000. Institutional investors and hedge funds own 96.87% of the company's stock.

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.

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