Shell Asset Management Co. Sells 316 Shares of CTS Corp. (CTS)
Shell Asset Management Co. reduced its stake in shares of CTS Corp. (NYSE:CTS) by 5.4% during the second quarter, Holdings Channel reports. The institutional investor owned 5,560 shares of the company’s stock after selling 316 shares during the period. Shell Asset Management Co.’s holdings in CTS Corp. were worth $100,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in CTS. BNP Paribas Arbitrage SA raised its position in shares of CTS Corp. by 104.8% in the second quarter. BNP Paribas Arbitrage SA now owns 10,174 shares of the company’s stock worth $182,000 after buying an additional 5,207 shares during the period. Wellington Management Group LLP raised its position in shares of CTS Corp. by 5.1% in the first quarter. Wellington Management Group LLP now owns 2,386,832 shares of the company’s stock worth $37,569,000 after buying an additional 115,775 shares during the period. Adirondack Research & Management Inc. raised its position in shares of CTS Corp. by 4.4% in the first quarter. Adirondack Research & Management Inc. now owns 197,232 shares of the company’s stock worth $3,104,000 after buying an additional 8,365 shares during the period. BlackRock Fund Advisors raised its position in shares of CTS Corp. by 0.9% in the first quarter. BlackRock Fund Advisors now owns 2,126,862 shares of the company’s stock worth $33,477,000 after buying an additional 19,342 shares during the period. Finally, Prudential Financial Inc. raised its position in shares of CTS Corp. by 2.4% in the first quarter. Prudential Financial Inc. now owns 77,715 shares of the company’s stock worth $1,223,000 after buying an additional 1,800 shares during the period. Hedge funds and other institutional investors own 91.79% of the company’s stock.
Shares of CTS Corp. (NYSE:CTS) traded down 0.11% during trading on Friday, hitting $17.41. The stock had a trading volume of 56,958 shares. The company’s 50 day moving average price is $18.52 and its 200 day moving average price is $18.03. The company has a market capitalization of $570.32 million, a price-to-earnings ratio of 146.30 and a beta of 1.23. CTS Corp. has a 52 week low of $12.87 and a 52 week high of $20.25.
CTS Corp. (NYSE:CTS) last released its quarterly earnings results on Friday, July 29th. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by $0.01. The company had revenue of $98.70 million for the quarter, compared to analyst estimates of $106.34 million. CTS Corp. had a net margin of 1.04% and a return on equity of 10.71%. CTS Corp.’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.30 EPS. Analysts predict that CTS Corp. will post $1.02 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 28th. Shareholders of record on Friday, September 23rd will be paid a dividend of $0.04 per share. The ex-dividend date is Wednesday, September 21st. This represents a $0.16 dividend on an annualized basis and a yield of 0.92%. CTS Corp.’s dividend payout ratio (DPR) is currently 145.45%.
In other CTS Corp. news, CFO Ashish Agrawal sold 2,250 shares of CTS Corp. stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $19.25, for a total transaction of $43,312.50. Following the completion of the transaction, the chief financial officer now owns 71,867 shares in the company, valued at approximately $1,383,439.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.66% of the company’s stock.
About CTS Corp.
CTS Corporation (CTS) is a global manufacturer of sensors, electronic components and actuators. The Company designs, manufactures and sells a line of sensors, electronic components and actuators primarily to original equipment manufacturers (OEMs) for the automotive, communications, defense and aerospace, medical, industrial and computer markets.
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