SG Americas Securities LLC Buys 3,287 Shares of CTS Corporation $CTS

SG Americas Securities LLC grew its stake in shares of CTS Corporation (NYSE:CTS) by 90.9% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 6,905 shares of the electronics maker’s stock after buying an additional 3,287 shares during the period. SG Americas Securities LLC’s holdings in CTS were worth $294,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Public Sector Pension Investment Board increased its stake in CTS by 27.3% during the first quarter. Public Sector Pension Investment Board now owns 95,549 shares of the electronics maker’s stock valued at $3,970,000 after acquiring an additional 20,468 shares during the period. Nuveen LLC bought a new stake in shares of CTS in the 1st quarter worth approximately $3,655,000. American Century Companies Inc. grew its holdings in shares of CTS by 8.7% during the 1st quarter. American Century Companies Inc. now owns 73,299 shares of the electronics maker’s stock worth $3,046,000 after purchasing an additional 5,881 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of CTS by 11.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 70,298 shares of the electronics maker’s stock valued at $2,921,000 after purchasing an additional 7,144 shares during the period. Finally, Jane Street Group LLC raised its stake in shares of CTS by 19.0% in the first quarter. Jane Street Group LLC now owns 59,694 shares of the electronics maker’s stock valued at $2,480,000 after purchasing an additional 9,530 shares in the last quarter. Institutional investors own 96.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on CTS shares. Weiss Ratings reiterated a “hold (c)” rating on shares of CTS in a research note on Wednesday, October 8th. Wall Street Zen downgraded shares of CTS from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 4th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock presently has an average rating of “Hold”.

CTS Stock Performance

Shares of NYSE:CTS opened at $42.33 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.64 and a quick ratio of 2.04. The business’s fifty day moving average price is $40.79 and its two-hundred day moving average price is $41.39. CTS Corporation has a fifty-two week low of $34.02 and a fifty-two week high of $57.49. The stock has a market capitalization of $1.23 billion, a price-to-earnings ratio of 21.49, a price-to-earnings-growth ratio of 1.15 and a beta of 0.94.

CTS (NYSE:CTS) last issued its quarterly earnings data on Tuesday, October 28th. The electronics maker reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.01). CTS had a net margin of 11.14% and a return on equity of 11.92%. The company had revenue of $142.97 million for the quarter, compared to the consensus estimate of $136.40 million. CTS has set its FY 2025 guidance at 2.200-2.250 EPS. As a group, analysts predict that CTS Corporation will post 2.28 EPS for the current fiscal year.

CTS Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 23rd. Shareholders of record on Friday, December 26th will be given a $0.04 dividend. The ex-dividend date is Friday, December 26th. This represents a $0.16 dividend on an annualized basis and a yield of 0.4%. CTS’s payout ratio is 8.12%.

CTS announced that its Board of Directors has authorized a stock buyback program on Friday, November 7th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the electronics maker to purchase up to 8.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

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.