Fiduciary Management Inc. WI Cuts Position in CTS Corporation $CTS

Key Points

• Fiduciary Management Inc. WI decreased its stake in CTS Corporation by 1.3%, holding around 4.00% of the company, valued at approximately $49.54 million.
• Several institutional investors have modified their holdings, with Public Sector Pension Investment Board increasing its stake by 27.3% in the first quarter.
• CTS Corporation recently announced a quarterly dividend of $0.04 per share, which will be paid on October 24th, representing an annual yield of 0.4%.

Fiduciary Management Inc. WI reduced its position in CTS Corporation (NYSE:CTS - Free Report) by 1.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,192,328 shares of the electronics maker's stock after selling 15,476 shares during the quarter. Fiduciary Management Inc. WI owned about 4.00% of CTS worth $49,541,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. T. Rowe Price Investment Management Inc. boosted its holdings in shares of CTS by 3.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,218,002 shares of the electronics maker's stock valued at $116,956,000 after acquiring an additional 73,435 shares during the period. Northern Trust Corp boosted its holdings in shares of CTS by 10.4% in the fourth quarter. Northern Trust Corp now owns 338,930 shares of the electronics maker's stock valued at $17,872,000 after acquiring an additional 31,803 shares during the period. GW&K Investment Management LLC boosted its holdings in shares of CTS by 2.1% in the first quarter. GW&K Investment Management LLC now owns 303,200 shares of the electronics maker's stock valued at $12,598,000 after acquiring an additional 6,107 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of CTS by 2.4% in the first quarter. Principal Financial Group Inc. now owns 158,729 shares of the electronics maker's stock valued at $6,595,000 after acquiring an additional 3,711 shares during the period. Finally, Voya Investment Management LLC boosted its holdings in shares of CTS by 13.4% in the fourth quarter. Voya Investment Management LLC now owns 105,518 shares of the electronics maker's stock valued at $5,564,000 after acquiring an additional 12,490 shares during the period. 96.87% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded CTS from a "hold" rating to a "buy" rating in a research note on Saturday, July 12th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has a consensus rating of "Hold".

CTS Stock Performance

Shares of CTS stock traded up $2.0120 during trading hours on Friday, hitting $43.5520. 152,946 shares of the company were exchanged, compared to its average volume of 185,462. CTS Corporation has a 1 year low of $34.02 and a 1 year high of $59.68. The company has a current ratio of 2.61, a quick ratio of 2.04 and a debt-to-equity ratio of 0.16. The business has a 50-day moving average of $41.58 and a 200-day moving average of $41.55. The stock has a market capitalization of $1.28 billion, a price-to-earnings ratio of 20.54, a P/E/G ratio of 1.21 and a beta of 0.82.

CTS (NYSE:CTS - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The electronics maker reported $0.57 EPS for the quarter, topping the consensus estimate of $0.55 by $0.02. The business 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 business earned $0.54 earnings per share. CTS has set its FY 2025 guidance at 2.200-2.350 EPS. As a group, analysts expect that CTS Corporation will post 2.28 EPS for the current fiscal year.

CTS Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 24th. Shareholders of record on Friday, September 26th will be given a $0.04 dividend. The ex-dividend date is Friday, September 26th. This represents a $0.16 annualized dividend and a yield of 0.4%. CTS's dividend payout ratio is presently 7.55%.

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.