CTS (NYSE:CTS) Sets New 52-Week High – Here’s Why

CTS Corporation (NYSE:CTS) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $53.54 and last traded at $53.04, with a volume of 193384 shares trading hands. The stock had previously closed at $51.41.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of CTS in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Hold”.

CTS Price Performance

The company has a fifty day moving average of $45.77 and a 200-day moving average of $42.66. The firm has a market cap of $1.54 billion, a P/E ratio of 26.92, a P/E/G ratio of 1.34 and a beta of 0.89. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.64 and a quick ratio of 2.12.

CTS Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 23rd. Stockholders of record on Friday, December 26th were paid a $0.04 dividend. The ex-dividend date was Friday, December 26th. This represents a $0.16 annualized dividend and a dividend yield of 0.3%. CTS’s dividend payout ratio is presently 8.12%.

CTS announced that its Board of Directors has approved a stock buyback plan on Friday, November 7th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the electronics maker to buy up to 8.5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On CTS

A number of institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada lifted its position in shares of CTS by 11.2% during the 1st quarter. Royal Bank of Canada now owns 7,036 shares of the electronics maker’s stock worth $292,000 after buying an additional 710 shares in the last quarter. SG Americas Securities LLC increased its position in shares of CTS by 90.9% during the second quarter. SG Americas Securities LLC now owns 6,905 shares of the electronics maker’s stock valued at $294,000 after acquiring an additional 3,287 shares during the last quarter. Entropy Technologies LP bought a new stake in CTS during the third quarter worth $341,000. Captrust Financial Advisors boosted its position in CTS by 12.1% in the second quarter. Captrust Financial Advisors now owns 8,113 shares of the electronics maker’s stock worth $346,000 after purchasing an additional 876 shares during the last quarter. Finally, AQR Capital Management LLC grew its stake in CTS by 19.4% in the 1st quarter. AQR Capital Management LLC now owns 9,576 shares of the electronics maker’s stock valued at $398,000 after purchasing an additional 1,558 shares during the period. 96.87% of the stock is owned by institutional investors.

About CTS

CTS Corporation (NYSE:CTS) is a global manufacturer and supplier of electronic components and sensors, headquartered in Lisle, Illinois. Established in 1896 as the Chicago Telephone Supply Company, the firm has evolved over more than a century to become a diversified provider of high-precision products for a wide range of end markets.

The company’s core business encompasses the design, development and production of sensors and actuators, frequency control devices such as quartz crystals and filters, multilayer ceramic capacitors, and inductive components.