T. Rowe Price Investment Management Inc. Decreases Stake in CTS Corporation $CTS

Key Points

• T. Rowe Price Investment Management Inc. reduced its stake in CTS Corporation by 8.0%, owning approximately $84.82 million worth of shares as of the latest SEC filing.
• Several institutional investors increased their holdings in CTS, with Quarry LP notably lifting its stake by 572.4% in the fourth quarter.
• CTS reported a quarterly earnings per share of $0.57, surpassing analysts' expectations, and also announced a quarterly dividend of $0.04 to be paid on October 24th.

T. Rowe Price Investment Management Inc. reduced its stake in CTS Corporation (NYSE:CTS - Free Report) by 8.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,041,259 shares of the electronics maker's stock after selling 176,743 shares during the period. T. Rowe Price Investment Management Inc. owned 6.84% of CTS worth $84,815,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in CTS. Nuveen LLC bought a new position in CTS in the 1st quarter worth about $3,655,000. GAMMA Investing LLC grew its stake in CTS by 7,434.6% in the 1st quarter. GAMMA Investing LLC now owns 52,893 shares of the electronics maker's stock worth $2,198,000 after acquiring an additional 52,191 shares in the last quarter. Northern Trust Corp grew its stake in CTS by 10.4% in the 4th quarter. Northern Trust Corp now owns 338,930 shares of the electronics maker's stock worth $17,872,000 after acquiring an additional 31,803 shares in the last quarter. Public Sector Pension Investment Board grew its stake in CTS by 27.3% in the 1st quarter. Public Sector Pension Investment Board now owns 95,549 shares of the electronics maker's stock worth $3,970,000 after acquiring an additional 20,468 shares in the last quarter. Finally, Lazard Asset Management LLC grew its stake in CTS by 111.4% in the 4th quarter. Lazard Asset Management LLC now owns 35,055 shares of the electronics maker's stock worth $1,848,000 after acquiring an additional 18,473 shares in the last quarter. 96.87% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

CTS Stock Up 4.8%

NYSE:CTS traded up $2.0120 during midday trading on Friday, reaching $43.5520. 152,946 shares of the stock traded hands, compared to its average volume of 185,462. CTS Corporation has a 12-month low of $34.02 and a 12-month high of $59.68. The business has a 50-day moving average of $41.58 and a two-hundred day moving average of $41.55. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.04 and a current ratio of 2.61. The stock has a market capitalization of $1.28 billion, a PE ratio of 20.54, a price-to-earnings-growth ratio of 1.21 and a beta of 0.82.

CTS (NYSE:CTS - Get Free Report) last posted its earnings results on Thursday, July 24th. The electronics maker reported $0.57 EPS for the quarter, beating analysts' consensus estimates of $0.55 by $0.02. The company had revenue of $135.30 million during the quarter, compared to analysts' expectations of $132.65 million. CTS had a net margin of 12.32% and a return on equity of 12.31%. During the same quarter in the prior year, the company posted $0.54 earnings per share. CTS has set its FY 2025 guidance at 2.200-2.350 EPS. On average, equities analysts forecast that CTS Corporation will post 2.28 earnings per share for the current fiscal year.

CTS Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 24th. Shareholders of record on Friday, September 26th will be issued a $0.04 dividend. The ex-dividend date of this dividend is Friday, September 26th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.4%. CTS's dividend payout ratio (DPR) is currently 7.55%.

CTS 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.