Lazard Asset Management LLC Purchases 18,473 Shares of CTS Co. (NYSE:CTS)

Lazard Asset Management LLC raised its position in CTS Co. (NYSE:CTS - Free Report) by 111.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,055 shares of the electronics maker's stock after buying an additional 18,473 shares during the quarter. Lazard Asset Management LLC owned 0.12% of CTS worth $1,848,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CTS. Deutsche Bank AG lifted its position in shares of 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 acquiring an additional 8,598 shares during the period. Northern Trust Corp lifted its position in shares of CTS by 10.4% during the 4th 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. Quarry LP lifted its position in shares of CTS by 572.4% during the 4th quarter. Quarry LP now owns 659 shares of the electronics maker's stock valued at $35,000 after acquiring an additional 561 shares during the period. Voya Investment Management LLC lifted its position in shares of CTS by 13.4% during the 4th 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. Finally, T. Rowe Price Investment Management Inc. lifted its position in shares of CTS by 3.4% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,218,002 shares of the electronics maker's stock worth $116,956,000 after buying an additional 73,435 shares during the last quarter. 96.87% of the stock is owned by institutional investors and hedge funds.

CTS Price Performance

NYSE:CTS traded down $0.87 during trading hours on Friday, hitting $39.63. The company's stock had a trading volume of 173,040 shares, compared to its average volume of 158,698. The stock has a fifty day simple moving average of $39.88 and a 200-day simple moving average of $46.98. The company has a market capitalization of $1.18 billion, a P/E ratio of 20.86 and a beta of 0.76. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.50 and a quick ratio of 1.95. CTS Co. has a twelve month low of $34.02 and a twelve month high of $59.68.

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

CTS Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Friday, June 27th will be given a $0.04 dividend. The ex-dividend date is Friday, June 27th. This represents a $0.16 annualized dividend and a yield of 0.40%. CTS's dividend payout ratio is presently 8.08%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised CTS from a "hold" rating to a "buy" rating in a research note on Thursday.

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.