Thrivent Financial for Lutherans Reduces Position in CTS Co. (NYSE:CTS)

Thrivent Financial for Lutherans lessened its stake in shares of CTS Co. (NYSE:CTS – Get Rating) by 0.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 32,701 shares of the electronics maker’s stock after selling 238 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.10% of CTS worth $1,289,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in CTS. American Century Companies Inc. purchased a new stake in shares of CTS during the first quarter valued at approximately $870,000. US Bancorp DE boosted its stake in shares of CTS by 26.5% during the first quarter. US Bancorp DE now owns 19,400 shares of the electronics maker’s stock valued at $686,000 after purchasing an additional 4,064 shares during the period. HighTower Advisors LLC purchased a new stake in shares of CTS during the first quarter valued at approximately $241,000. Citigroup Inc. boosted its stake in shares of CTS by 8.1% during the first quarter. Citigroup Inc. now owns 41,152 shares of the electronics maker’s stock valued at $1,453,000 after purchasing an additional 3,101 shares during the period. Finally, MetLife Investment Management LLC boosted its stake in shares of CTS by 36.8% during the first quarter. MetLife Investment Management LLC now owns 16,890 shares of the electronics maker’s stock valued at $597,000 after purchasing an additional 4,539 shares during the period. Hedge funds and other institutional investors own 95.61% of the company’s stock.

CTS Price Performance

CTS opened at $44.94 on Tuesday. The stock has a fifty day simple moving average of $44.10 and a two-hundred day simple moving average of $43.21. The company has a current ratio of 3.05, a quick ratio of 2.45 and a debt-to-equity ratio of 0.16. The company has a market cap of $1.42 billion, a price-to-earnings ratio of 24.83 and a beta of 0.75. CTS Co. has a 12-month low of $31.90 and a 12-month high of $49.59.

CTS (NYSE:CTS – Get Rating) last posted its quarterly earnings data on Thursday, April 27th. The electronics maker reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.02. The business had revenue of $145.99 million during the quarter, compared to the consensus estimate of $142.89 million. CTS had a return on equity of 15.45% and a net margin of 9.86%. The firm’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.67 earnings per share. Research analysts predict that CTS Co. will post 2.6 earnings per share for the current fiscal year.

CTS Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 28th. Shareholders of record on Friday, June 30th will be issued a $0.04 dividend. The ex-dividend date is Thursday, June 29th. This represents a $0.16 dividend on an annualized basis and a yield of 0.36%. CTS’s dividend payout ratio (DPR) is 8.84%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Stephens reaffirmed an “equal weight” rating and issued a $41.00 price target on shares of CTS in a research note on Wednesday, February 8th. StockNews.com assumed coverage on CTS in a research note on Thursday, May 18th. They issued a “buy” rating for the company. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $41.50.

About CTS

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CTS Corp. engages in the design and manufacture of sensors, connectivity components, and actuators. Its products include controls, pedals, piezo sensing products, sensors, switches, transducers, electromagnetic and radio frequency interference filters, capacitors, frequency control, resistors, piezo microactuators, and rotary microactuators.