Wasatch Advisors LP Sells 39,949 Shares of CTS Co. (NYSE:CTS)

Wasatch Advisors LP lessened its stake in CTS Co. (NYSE:CTS - Free Report) by 2.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,953,914 shares of the electronics maker's stock after selling 39,949 shares during the period. Wasatch Advisors LP owned 6.49% of CTS worth $103,030,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CTS. Geode Capital Management LLC grew its holdings in CTS by 4.3% during the third quarter. Geode Capital Management LLC now owns 806,180 shares of the electronics maker's stock valued at $39,010,000 after purchasing an additional 33,449 shares during the last quarter. Aristides Capital LLC lifted its holdings in CTS by 35.3% during the 4th quarter. Aristides Capital LLC now owns 5,805 shares of the electronics maker's stock valued at $306,000 after purchasing an additional 1,513 shares during the last quarter. Envestnet Portfolio Solutions Inc. bought a new stake in CTS during the 4th quarter worth approximately $202,000. Atria Wealth Solutions Inc. bought a new position in shares of CTS in the fourth quarter valued at about $214,000. Finally, Principal Financial Group Inc. grew its stake in shares of CTS by 2.7% during the fourth quarter. Principal Financial Group Inc. now owns 155,018 shares of the electronics maker's stock valued at $8,174,000 after purchasing an additional 4,004 shares during the last quarter. Institutional investors own 96.87% of the company's stock.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of CTS from a "hold" rating to a "buy" rating in a research note on Monday, March 3rd.

CTS Stock Performance

CTS stock traded down $0.55 during trading hours on Monday, hitting $37.03. The company had a trading volume of 46,692 shares, compared to its average volume of 156,118. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.50 and a quick ratio of 1.95. The firm has a market cap of $1.11 billion, a PE ratio of 19.49 and a beta of 0.61. The firm has a 50-day moving average of $41.85 and a 200 day moving average of $48.44. CTS Co. has a one year low of $34.02 and a one year high of $59.68.

CTS (NYSE:CTS - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The electronics maker reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.06). CTS had a return on equity of 12.67% and a net margin of 11.27%. On average, sell-side analysts expect that CTS Co. will post 2.28 earnings per share for the current year.

CTS Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, March 28th will be paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date of this dividend is Friday, March 28th. CTS's dividend payout ratio (DPR) is 8.42%.

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.