Public Sector Pension Investment Board Sells 2,900 Shares of CTS Co. (NYSE:CTS)

Public Sector Pension Investment Board lowered its position in CTS Co. (NYSE:CTS) by 4.3% during the 3rd quarter, HoldingsChannel reports. The fund owned 64,389 shares of the electronics maker’s stock after selling 2,900 shares during the period. Public Sector Pension Investment Board’s holdings in CTS were worth $3,115,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Innealta Capital LLC purchased a new position in shares of CTS during the second quarter valued at approximately $27,000. GAMMA Investing LLC lifted its stake in shares of CTS by 132.5% during the 3rd quarter. GAMMA Investing LLC now owns 586 shares of the electronics maker’s stock worth $28,000 after acquiring an additional 334 shares during the last quarter. Canada Pension Plan Investment Board purchased a new position in CTS during the 2nd quarter valued at $41,000. Quest Partners LLC bought a new position in CTS in the 3rd quarter valued at $92,000. Finally, Hantz Financial Services Inc. purchased a new stake in CTS in the second quarter worth $157,000. Institutional investors own 96.87% of the company’s stock.

CTS Price Performance

Shares of CTS opened at $55.29 on Wednesday. The stock has a market capitalization of $1.67 billion, a PE ratio of 28.50 and a beta of 0.60. The company has a 50 day moving average price of $51.27 and a 200-day moving average price of $50.28. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.91 and a current ratio of 2.46. CTS Co. has a fifty-two week low of $39.15 and a fifty-two week high of $59.68.

CTS (NYSE:CTS) last issued its quarterly earnings data on Tuesday, October 29th. The electronics maker reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.06. CTS had a return on equity of 12.39% and a net margin of 11.66%. The firm had revenue of $132.42 million during the quarter. During the same quarter last year, the company earned $0.54 earnings per share. Equities analysts predict that CTS Co. will post 2.15 earnings per share for the current fiscal year.

CTS Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, December 27th will be given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.29%. The ex-dividend date of this dividend is Friday, December 27th. CTS’s payout ratio is currently 8.25%.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. StockNews.com cut shares of CTS from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Scotiabank downgraded shares of CTS from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 25th.

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.