Dimensional Fund Advisors LP Sells 12,462 Shares of CTS Co. (NYSE:CTS)

Dimensional Fund Advisors LP reduced its position in shares of CTS Co. (NYSE:CTS) by 0.8% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,465,214 shares of the electronics maker’s stock after selling 12,462 shares during the quarter. Dimensional Fund Advisors LP’s holdings in CTS were worth $74,184,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. raised its holdings in shares of CTS by 11.1% during the second quarter. Oppenheimer Asset Management Inc. now owns 26,607 shares of the electronics maker’s stock valued at $1,347,000 after acquiring an additional 2,667 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of CTS by 14.2% in the 2nd quarter. American Century Companies Inc. now owns 52,520 shares of the electronics maker’s stock valued at $2,659,000 after purchasing an additional 6,528 shares during the period. AdvisorShares Investments LLC bought a new stake in shares of CTS during the second quarter valued at approximately $513,000. Choreo LLC purchased a new stake in CTS in the second quarter worth $235,000. Finally, Natixis Advisors LLC grew its stake in CTS by 11.6% in the second quarter. Natixis Advisors LLC now owns 17,137 shares of the electronics maker’s stock worth $868,000 after purchasing an additional 1,779 shares during the period. Hedge funds and other institutional investors own 96.87% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of CTS from a “buy” rating to a “hold” rating in a report on Monday, September 16th.

CTS Stock Performance

Shares of CTS opened at $48.28 on Friday. CTS Co. has a 52 week low of $35.50 and a 52 week high of $55.47. The company has a quick ratio of 2.85, a current ratio of 3.41 and a debt-to-equity ratio of 0.12. The stock has a market cap of $1.49 billion, a P/E ratio of 28.39 and a beta of 0.58. The business’s 50 day moving average price is $48.01 and its 200-day moving average price is $48.65.

CTS (NYSE:CTS) last released its earnings results on Tuesday, July 30th. The electronics maker reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.01. CTS had a return on equity of 11.98% and a net margin of 10.70%. The firm had revenue of $130.16 million for the quarter, compared to analysts’ expectations of $133.33 million. During the same period in the prior year, the firm posted $0.59 earnings per share. The company’s quarterly revenue was down 10.3% on a year-over-year basis. Equities research analysts anticipate that CTS Co. will post 2.15 earnings per share for the current fiscal year.

CTS Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, September 27th will be issued a $0.04 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.16 annualized dividend and a yield of 0.33%. CTS’s dividend payout ratio (DPR) is presently 9.41%.

CTS Company Profile

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.