CTS Corporation (NYSE:CTS) Shareholders to Receive $0.04 Quarterly Dividend

Key Points

• CTS declared a quarterly dividend of $0.04 per share, payable January 22 to shareholders of record December 24. That equates to $0.16 annually and a 0.3% yield.
• The dividend appears well covered: CTS’s payout ratio is 6.6%, and analysts forecast a 5.4% payout ratio based on next year’s expected earnings.
• CTS beat quarterly estimates, reporting EPS of $0.77 versus $0.65 expected and revenue of $149.58 million versus $145.95 million expected.

CTS Corporation (NYSE:CTS - Get Free Report) announced a quarterly dividend on Thursday, November 5th. Stockholders of record on Thursday, December 24th will be paid a dividend of $0.04 per share by the electronics maker on Friday, January 22nd. This represents a $0.16 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Thursday, December 24th.

CTS has a payout ratio of 6.6% meaning its dividend is sufficiently covered by earnings. Analysts expect CTS to earn $2.95 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 5.4%.

CTS Price Performance

Shares of CTS stock opened at $56.84 on Friday. The firm has a market cap of $1.62 billion, a P/E ratio of 22.51, a price-to-earnings-growth ratio of 1.38 and a beta of 0.94. The firm's 50-day simple moving average is $57.96 and its 200-day simple moving average is $57.55. CTS has a twelve month low of $40.15 and a twelve month high of $69.55. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.10 and a current ratio of 2.59.

CTS (NYSE:CTS - Get Free Report) last posted its quarterly earnings results on Tuesday, October 27th. The electronics maker reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.12. The firm had revenue of $149.58 million during the quarter, compared to analyst estimates of $145.95 million. CTS had a net margin of 12.94% and a return on equity of 14.05%. As a group, research analysts expect that CTS will post 2.80 EPS for the current fiscal year.

Institutional Trading of CTS

Several hedge funds have recently modified their holdings of CTS. Maryland State Retirement & Pension System lifted its position in CTS by 55.1% during the 3rd quarter. Maryland State Retirement & Pension System now owns 6,454 shares of the electronics maker's stock worth $379,000 after buying an additional 2,292 shares in the last quarter. Leuthold Group LLC grew its holdings in CTS by 12.6% during the 3rd quarter. Leuthold Group LLC now owns 47,573 shares of the electronics maker's stock worth $2,792,000 after acquiring an additional 5,341 shares during the last quarter. BOKF NA bought a new stake in CTS during the 3rd quarter worth about $738,000. Sterling Capital Management LLC increased its position in CTS by 272.1% in the 3rd quarter. Sterling Capital Management LLC now owns 841 shares of the electronics maker's stock valued at $49,000 after acquiring an additional 615 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in shares of CTS by 10.1% in the third quarter. Nisa Investment Advisors LLC now owns 23,592 shares of the electronics maker's stock worth $1,386,000 after acquiring an additional 2,157 shares during the last quarter. Institutional investors and hedge funds own 96.87% of the company's stock.

CTS Company Profile

CTS Corporation NYSE: CTS is a designer and manufacturer of sensors, actuators, and electronic components for original equipment manufacturers and industrial customers. The company develops custom-engineered solutions that help measure, control, and manage electrical and mechanical functions in a range of products and systems.

Its offerings include position, pressure, temperature, and motion sensors; piezoelectric and electronic components; switches, controls, and actuators; and other sensing and mechatronic products.

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