CTS (NYSE:CTS) Shares Gap Up on Better-Than-Expected Earnings

CTS Corporation (NYSE:CTS - Get Free Report)'s share price gapped up before the market opened on Thursday following a better than expected earnings announcement. The stock had previously closed at $40.44, but opened at $43.00. CTS shares last traded at $41.48, with a volume of 88,907 shares trading hands.

The electronics maker reported $0.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.55 by $0.02. CTS had a net margin of 11.70% and a return on equity of 12.32%. The firm had revenue of $135.30 million during the quarter, compared to analyst estimates of $132.65 million. During the same quarter in the prior year, the firm posted $0.54 EPS.

CTS Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Friday, June 27th will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.38%. The ex-dividend date of this dividend is Friday, June 27th. CTS's dividend payout ratio (DPR) is presently 8.08%.

Analyst Ratings Changes

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

Institutional Investors Weigh In On CTS

Hedge funds and other institutional investors have recently modified their holdings of the business. Aristides Capital LLC lifted its holdings in CTS by 35.3% in the fourth quarter. Aristides Capital LLC now owns 5,805 shares of the electronics maker's stock valued at $306,000 after acquiring an additional 1,513 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in CTS by 4.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,119 shares of the electronics maker's stock valued at $903,000 after buying an additional 651 shares during the last quarter. Deutsche Bank AG lifted its holdings in CTS by 50.9% during the 4th quarter. Deutsche Bank AG now owns 25,478 shares of the electronics maker's stock valued at $1,343,000 after purchasing an additional 8,598 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of CTS by 11.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 63,154 shares of the electronics maker's stock worth $3,330,000 after acquiring an additional 6,269 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. bought a new position in CTS in the fourth quarter valued at approximately $202,000. 96.87% of the stock is currently owned by hedge funds and other institutional investors.

CTS Price Performance

The company has a market capitalization of $1.24 billion, a P/E ratio of 21.09 and a beta of 0.80. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.63 and a quick ratio of 2.05. The company's 50-day moving average price is $41.99 and its two-hundred day moving average price is $43.23.

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.

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