Handelsbanken Fonder AB Buys 1,500 Shares of CTS Co. (NYSE:CTS)

Handelsbanken Fonder AB increased its stake in shares of CTS Co. (NYSE:CTS) by 19.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,185 shares of the electronics maker’s stock after purchasing an additional 1,500 shares during the period. Handelsbanken Fonder AB’s holdings in CTS were worth $382,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. grew its position in CTS by 3.4% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,218,002 shares of the electronics maker’s stock worth $116,956,000 after purchasing an additional 73,435 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of CTS by 1.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 392,690 shares of the electronics maker’s stock worth $20,707,000 after buying an additional 7,088 shares during the last quarter. Northern Trust Corp grew its holdings in shares of CTS by 10.4% in the fourth 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 during the period. Raymond James Financial Inc. purchased a new stake in CTS during the fourth quarter valued at $15,852,000. Finally, Bank of New York Mellon Corp grew its position in shares of CTS by 1.1% during the 4th quarter. Bank of New York Mellon Corp now owns 282,737 shares of the electronics maker’s stock valued at $14,909,000 after acquiring an additional 3,115 shares during the period. Institutional investors own 96.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded CTS from a “buy” rating to a “hold” rating in a research note on Friday, May 30th.

CTS Trading Down 3.4%

Shares of CTS stock opened at $41.10 on Monday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.95 and a current ratio of 2.50. The stock has a fifty day simple moving average of $40.06 and a two-hundred day simple moving average of $45.49. The firm has a market capitalization of $1.23 billion, a PE ratio of 21.63 and a beta of 0.80. CTS Co. has a 52-week low of $34.02 and a 52-week high of $59.68.

CTS (NYSE:CTS) last issued its earnings results on Wednesday, April 30th. The electronics maker reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.05). CTS had a net margin of 11.27% and a return on equity of 12.67%. The business had revenue of $125.77 million for the quarter, compared to the consensus estimate of $128.72 million. On average, analysts predict that CTS Co. will post 2.28 EPS for the current fiscal year.

CTS Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Friday, June 27th will be issued a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.39%. The ex-dividend date is Friday, June 27th. CTS’s dividend payout ratio (DPR) is presently 8.08%.

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.