( ) has seen a notable increase in short-term interest during the month of march. On March 31, there were 766,800 shorted shares. This is an increase of 13.2% compared to the total of 677 300 shares on March 15. The days-tocover ratio currently stands at 4.4 days based on an average daily share volume of 175,000. Short-selling is currently 2.5% of shares.
Wall Street analysts weigh in
Recently, a number of equity research analysts have weighed in about the company. CTS was first covered in a report published on CTS on Thursday 16th March. They gave the company a rating of 'buy.' Three analysts gave the company a buy recommendation, while two research analysts assigned the stock a hold rating. The stock fell $0.50 in mid-day trading, reaching $44.80. The stock exchanged hands 166,538 times, as opposed to the average of 169.217. CTS's low for the past twelve months is $31.90, and its high for that same period is $49.59. The debt-to equity ratio for the company is 0.17. Its quick ratio is 2.34, and its current ratio is 2.89. The 50-day moving average of the company is $45.01; its 200-day moving average is also $43.14. The company has a $1.42 billion market cap, a Price-to-Earnings Ratio of 24.09, and a Beta of 0.75.
The last time ) announced its results was on February 7th. The electronics manufacturer reported $0.56 per share in earnings for the third quarter, which was on par with the consensus estimate. CTS's return on equity was 16.14%, and its net margin was 10.15%. The company had a revenue of $142.28 millions during the quarter compared with analysts' expectations for $148.56 million. The business earned $0.49 per share during the same quarter of last year. Revenue for the company was up 7.4% year-over-year. Analysts at equities firms expect CTS to post 2.55 earnings for the current fiscal year.
CTS Announces Dividend
Recently, the company announced that it would be paying a quarterly dividend on Friday, 28th April. Investors who held shares on the Friday, March 31, will receive a $0.04 dividend per share. This dividend will be paid on Friday, March 31st. This is a $0.16 dividend with a yield of 0.36 percent. CTS's current dividend payout ratio stands at 8.60%.
Insiders Bet on the Future
On Thursday, February 2, 2015, CTS sold 15,979 CTS shares in a single transaction. The shares were sold for an average price $47.00 and had a total worth of $751,013.00. The chief executive now owns 481,807 of the company's shares, worth $22,644,929. Other CTS news: CEO Kieran O'sullivan, in a Thursday, 2nd February transaction, sold 15,979 CTS shares. The shares were sold for an average price $47.00 and had a total worth of $751,013.00. The chief executive now owns 481,807 of the company's shares, worth $22,644,929. On Monday, 23rd January, 2,746 CTS shares were sold in a single transaction. Stock was sold for $129,062.00 at an average of $47.00. After the transaction was completed, the chief executive now owns directly 498,035 of the company's shares, valued at about $23,407 645. Insiders have sold 18,759 shares worth $881,673 in the past 90 days. Insiders own 2.00% of company stock.
Inflows of Institutional Capital and Outflows
Recent large investors have bought and sold shares in the company. Quadrant Capital Group, LLC increased its holdings in CTS during the third quarter by 516.8%. Quadrant Capital group LLC owns now 1,030 shares worth $43,000 of the stock of the electronics manufacturer after purchasing an additional 863 in the last quarter. Point72 Hong Kong Ltd acquired a stake in CTS valued at approximately $56,000 during the second quarter. AXS Investments LLC purchased a new stake in CTS shares in the fourth-quarter worth approximately $76,000. Robeco Institutional Asset Management B.V. purchased a new share of CTS during the third quarter, worth approximately $82,000. Allspring Global Investments Holdings LLC increased its holdings of CTS shares by 64.1% in the third quarter. Allspring Global Investments Holdings LLC owns 2,140 of the electronics maker’s stock, valued at $89,000. This is after adding 836 additional shares to its portfolio. 95.61% of company stock is owned by institutional investors.
CTS Corp. designs and manufactures sensors, connectivity components and actuators. Its products include pedals, controls, piezo sensors, switches and transducers. They also have electromagnetic and radio frequency interfering filters, capacitors and frequency control.
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