Creative Planning Raises Stake in CTS Co. (NYSE:CTS)

Creative Planning lifted its holdings in CTS Co. (NYSE:CTS) by 27.6% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 13,170 shares of the electronics maker’s stock after acquiring an additional 2,852 shares during the quarter. Creative Planning’s holdings in CTS were worth $667,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in CTS. The Manufacturers Life Insurance Company grew its stake in shares of CTS by 3.0% in the second quarter. The Manufacturers Life Insurance Company now owns 15,372 shares of the electronics maker’s stock worth $778,000 after purchasing an additional 444 shares during the last quarter. Earnest Partners LLC raised its holdings in CTS by 3.0% in the 2nd quarter. Earnest Partners LLC now owns 1,735,534 shares of the electronics maker’s stock worth $87,870,000 after purchasing an additional 50,632 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of CTS by 5.8% in the 2nd quarter. AQR Capital Management LLC now owns 5,637 shares of the electronics maker’s stock worth $285,000 after purchasing an additional 308 shares during the period. Marshall Wace LLP purchased a new position in shares of CTS during the second quarter valued at about $2,662,000. Finally, Bank of Montreal Can raised its stake in CTS by 51.5% in the second quarter. Bank of Montreal Can now owns 9,417 shares of the electronics maker’s stock worth $480,000 after buying an additional 3,200 shares in the last quarter. Hedge funds and other institutional investors own 96.87% of the company’s stock.

CTS Stock Up 1.6 %

CTS stock opened at $48.25 on Monday. 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 business has a 50 day moving average of $47.26 and a 200 day moving average of $48.92. CTS Co. has a twelve month low of $35.50 and a twelve month high of $55.47. The firm has a market cap of $1.49 billion, a PE ratio of 28.38 and a beta of 0.57.

CTS (NYSE:CTS) last issued its earnings results on Tuesday, July 30th. The electronics maker reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.01. CTS had a net margin of 10.70% and a return on equity of 11.98%. The business had revenue of $130.16 million during the quarter, compared to analysts’ expectations of $133.33 million. During the same period in the previous year, the company earned $0.59 earnings per share. The business’s revenue for the quarter was down 10.3% compared to the same quarter last year. On average, research analysts forecast that CTS Co. will post 2.15 EPS for the current fiscal year.

CTS Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors 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 dividend on an annualized basis and a yield of 0.33%. CTS’s dividend payout ratio is currently 9.41%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded CTS from a “hold” rating to a “buy” rating in a report on Thursday.

CTS 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.