CTS Co. (NYSE:CTS) Short Interest Up 10.0% in August

CTS Co. (NYSE:CTS) saw a large growth in short interest during the month of August. As of August 31st, there was short interest totalling 624,400 shares, a growth of 10.0% from the July 31st total of 567,800 shares. Based on an average daily trading volume, of 131,800 shares, the days-to-cover ratio is presently 4.7 days. Currently, 2.0% of the shares of the stock are short sold.

CTS stock traded up $0.14 during midday trading on Friday, hitting $33.41. The company had a trading volume of 150,603 shares, compared to its average volume of 91,912. The company has a current ratio of 2.60, a quick ratio of 2.15 and a debt-to-equity ratio of 0.19. CTS has a 52 week low of $24.07 and a 52 week high of $37.10. The stock’s 50 day moving average price is $29.57 and its 200 day moving average price is $29.23. The stock has a market cap of $1.07 billion, a price-to-earnings ratio of 21.84 and a beta of 1.32.

CTS (NYSE:CTS) last announced its quarterly earnings data on Thursday, July 25th. The electronics maker reported $0.40 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.02. CTS had a return on equity of 13.92% and a net margin of 10.72%. The firm had revenue of $120.68 million during the quarter, compared to the consensus estimate of $115.10 million. During the same quarter in the previous year, the company posted $0.39 earnings per share. The business’s revenue was up 2.3% on a year-over-year basis. Analysts predict that CTS will post 1.59 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, September 27th will be given a $0.04 dividend. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $0.16 annualized dividend and a yield of 0.48%. CTS’s payout ratio is currently 10.46%.

A number of research firms recently weighed in on CTS. ValuEngine upgraded CTS from a “sell” rating to a “hold” rating in a research report on Monday, July 22nd. Zacks Investment Research upgraded CTS from a “sell” rating to a “hold” rating in a research report on Monday, September 9th. Finally, Cowen began coverage on CTS in a research report on Tuesday, May 21st. They issued an “outperform” rating and a $34.00 price objective for the company.

Hedge funds have recently made changes to their positions in the business. Trust Co. of Vermont bought a new stake in CTS in the second quarter valued at approximately $41,000. Investors Research Corp lifted its position in CTS by 90.9% in the second quarter. Investors Research Corp now owns 2,100 shares of the electronics maker’s stock valued at $58,000 after purchasing an additional 1,000 shares during the last quarter. BNP Paribas Arbitrage SA lifted its position in CTS by 288.0% in the first quarter. BNP Paribas Arbitrage SA now owns 6,809 shares of the electronics maker’s stock valued at $200,000 after purchasing an additional 5,054 shares during the last quarter. Crossmark Global Holdings Inc. bought a new stake in CTS in the first quarter valued at approximately $223,000. Finally, Piedmont Investment Advisors Inc. lifted its position in CTS by 4.9% in the first quarter. Piedmont Investment Advisors Inc. now owns 8,254 shares of the electronics maker’s stock valued at $242,000 after purchasing an additional 388 shares during the last quarter. Hedge funds and other institutional investors own 93.91% of the company’s stock.

CTS Company Profile

CTS Corporation designs, manufactures, and sells a range of sensors, electronic components, and actuators primarily to original equipment manufacturers for the aerospace and defense, industrial, information technology, medical, telecommunications, and transportation markets. It offers sensors and actuators for use in passenger or consumer vehicles; electronic components for use in telecommunications infrastructure, information technology and other high-speed applications, switches, and potentiometers supplied to various markets; and fabricated piezoelectric materials and substrates used primarily in medical, industrial, aerospace and defense, and information technology markets.

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