BlackRock Inc. Invests $293.47 Million in CTS Corporation $CTS

BlackRock Inc. purchased a new position in shares of CTS Corporation (NYSE:CTS - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 4,501,796 shares of the electronics maker's stock, valued at approximately $293,472,000. BlackRock Inc. owned about 15.76% of CTS as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank of New York Mellon Corp bought a new position in CTS during the second quarter worth $14,716,000. Seizert Capital Partners LLC acquired a new position in shares of CTS in the 4th quarter valued at about $2,202,000. Deutsche Bank AG acquired a new position in shares of CTS in the 2nd quarter valued at about $2,374,000. Old West Investment Management LLC bought a new stake in shares of CTS during the 2nd quarter valued at about $2,204,000. Finally, 1ST Source Bank acquired a new stake in CTS during the second quarter worth about $1,185,000. 96.87% of the stock is owned by institutional investors.

CTS Stock Performance

CTS stock opened at $56.93 on Thursday. The company has a 50-day simple moving average of $62.20 and a 200 day simple moving average of $58.02. The company has a market capitalization of $1.63 billion, a P/E ratio of 23.92, a PEG ratio of 1.30 and a beta of 1.05. The company has a quick ratio of 2.07, a current ratio of 2.61 and a debt-to-equity ratio of 0.10. CTS Corporation has a fifty-two week low of $36.03 and a fifty-two week high of $69.55.

CTS (NYSE:CTS - Get Free Report) last released its earnings results on Tuesday, July 28th. The electronics maker reported $0.74 EPS for the quarter, beating the consensus estimate of $0.61 by $0.13. The firm had revenue of $144.78 million for the quarter, compared to analysts' expectations of $143.43 million. CTS had a net margin of 12.37% and a return on equity of 13.48%. During the same quarter last year, the company earned $0.62 EPS. CTS has set its FY 2026 guidance at 2.550-2.700 EPS. Sell-side analysts predict that CTS Corporation will post 2.72 earnings per share for the current fiscal year.

CTS Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 23rd. Stockholders of record on Friday, September 25th will be paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Friday, September 25th. CTS's payout ratio is currently 6.72%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CTS. Weiss Ratings lowered CTS from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday. Zacks Research downgraded CTS from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 29th. Finally, Wall Street Zen cut CTS from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 8th. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company has an average rating of "Hold".

CTS Company Profile

CTS Corporation NYSE: CTS is a global manufacturer and supplier of electronic components and sensors, headquartered in Lisle, Illinois. Established in 1896 as the Chicago Telephone Supply Company, the firm has evolved over more than a century to become a diversified provider of high-precision products for a wide range of end markets.

The company's core business encompasses the design, development and production of sensors and actuators, frequency control devices such as quartz crystals and filters, multilayer ceramic capacitors, and inductive components.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source