CTS (NYSE:CTS) Reaches New 52-Week High – Here’s What Happened

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

Analyst Ratings Changes

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

CTS Stock Up 3.2%

The firm has a market cap of $1.54 billion, a price-to-earnings ratio of 26.92, a PEG ratio of 1.34 and a beta of 0.89. The firm has a 50 day moving average of $45.77 and a 200 day moving average of $42.66. The company has a quick ratio of 2.12, a current ratio of 2.64 and a debt-to-equity ratio of 0.17.

CTS Announces Dividend

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

CTS announced that its board has approved a share repurchase program on Friday, November 7th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the electronics maker to purchase up to 8.5% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On CTS

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Seizert Capital Partners LLC bought a new stake in CTS in the 4th quarter valued at about $2,202,000. Horizon Investments LLC grew its stake in CTS by 4.7% in the fourth quarter. Horizon Investments LLC now owns 14,084 shares of the electronics maker’s stock valued at $604,000 after acquiring an additional 631 shares during the period. Tudor Investment Corp ET AL increased its holdings in shares of CTS by 103.4% during the third quarter. Tudor Investment Corp ET AL now owns 85,266 shares of the electronics maker’s stock valued at $3,406,000 after acquiring an additional 43,341 shares in the last quarter. Entropy Technologies LP bought a new stake in shares of CTS during the third quarter valued at approximately $341,000. Finally, SG Americas Securities LLC raised its position in shares of CTS by 357.2% during the third quarter. SG Americas Securities LLC now owns 31,571 shares of the electronics maker’s stock worth $1,261,000 after purchasing an additional 24,666 shares during the period. Institutional investors own 96.87% of the company’s stock.

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.