D. E. Shaw & Co. Inc. Trims Stake in CTS Co. (NYSE:CTS)

D. E. Shaw & Co. Inc. lessened its position in CTS Co. (NYSE:CTS - Free Report) by 33.7% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 26,473 shares of the electronics maker's stock after selling 13,442 shares during the period. D. E. Shaw & Co. Inc. owned approximately 0.09% of CTS worth $1,396,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Quarry LP increased its position in shares of CTS by 572.4% during the fourth quarter. Quarry LP now owns 659 shares of the electronics maker's stock worth $35,000 after acquiring an additional 561 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in CTS by 608.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 737 shares of the electronics maker's stock valued at $39,000 after purchasing an additional 633 shares during the last quarter. KBC Group NV increased its holdings in CTS by 58.2% during the 4th quarter. KBC Group NV now owns 1,713 shares of the electronics maker's stock worth $90,000 after purchasing an additional 630 shares in the last quarter. Envestnet Portfolio Solutions Inc. bought a new position in shares of CTS in the fourth quarter valued at approximately $202,000. Finally, Atria Wealth Solutions Inc. purchased a new position in shares of CTS during the fourth quarter valued at approximately $214,000. 96.87% of the stock is owned by institutional investors and hedge funds.

CTS Stock Performance

NYSE:CTS traded up $1.27 during trading hours on Tuesday, reaching $40.94. The stock had a trading volume of 72,566 shares, compared to its average volume of 172,143. CTS Co. has a 12-month low of $34.02 and a 12-month high of $59.68. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.95 and a current ratio of 2.50. The stock has a 50 day simple moving average of $39.80 and a 200 day simple moving average of $46.69. The stock has a market cap of $1.22 billion, a P/E ratio of 21.55 and a beta of 0.76.

CTS (NYSE:CTS - Get Free Report) last issued its earnings results on Wednesday, April 30th. The electronics maker reported $0.44 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.05). The company had revenue of $125.77 million during the quarter, compared to the consensus estimate of $128.72 million. CTS had a return on equity of 12.67% and a net margin of 11.27%. On average, research analysts forecast that CTS Co. will post 2.28 EPS for the current fiscal year.

CTS Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Friday, June 27th will be issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.39%. The ex-dividend date of this dividend is Friday, June 27th. CTS's dividend payout ratio is currently 8.08%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised shares of CTS from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd.

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.