CTS Co. (CTS) Plans $0.04 Quarterly Dividend
CTS Co. (NYSE:CTS) announced a quarterly dividend on Thursday, May 18th. Investors of record on Friday, June 23rd will be given a dividend of 0.04 per share by the electronics maker on Friday, July 28th. This represents a $0.16 annualized dividend and a yield of 0.77%.
CTS has increased its dividend payment by an average of 4.6% annually over the last three years and has increased its dividend annually for the last 3 consecutive years. CTS has a dividend payout ratio of 13.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect CTS to earn $1.27 per share next year, which means the company should continue to be able to cover its $0.16 annual dividend with an expected future payout ratio of 12.6%.
CTS (NYSE:CTS) traded up 0.98% on Thursday, hitting $20.65. 76,992 shares of the stock were exchanged. The company has a 50-day moving average price of $20.93 and a 200-day moving average price of $21.73. CTS has a 52-week low of $16.35 and a 52-week high of $24.80. The firm has a market cap of $678.37 million, a PE ratio of 19.86 and a beta of 1.25.
CTS (NYSE:CTS) last posted its earnings results on Thursday, April 27th. The electronics maker reported $0.26 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.26. The business had revenue of $100.10 million during the quarter, compared to analyst estimates of $100.72 million. CTS had a return on equity of 11.87% and a net margin of 8.67%. The company’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.26 EPS. On average, equities research analysts anticipate that CTS will post $1.16 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently modified their holdings of the company. Teachers Advisors LLC raised its position in shares of CTS by 2.4% in the first quarter. Teachers Advisors LLC now owns 51,961 shares of the electronics maker’s stock valued at $1,107,000 after buying an additional 1,207 shares during the last quarter. California Public Employees Retirement System raised its position in shares of CTS by 1.1% in the first quarter. California Public Employees Retirement System now owns 56,900 shares of the electronics maker’s stock valued at $1,212,000 after buying an additional 600 shares during the last quarter. Vanguard Group Inc. raised its position in shares of CTS by 3.6% in the first quarter. Vanguard Group Inc. now owns 1,724,049 shares of the electronics maker’s stock valued at $36,723,000 after buying an additional 59,636 shares during the last quarter. Geode Capital Management LLC raised its position in shares of CTS by 4.1% in the first quarter. Geode Capital Management LLC now owns 233,581 shares of the electronics maker’s stock valued at $4,975,000 after buying an additional 9,203 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its position in shares of CTS by 5.4% in the first quarter. Schwab Charles Investment Management Inc. now owns 142,397 shares of the electronics maker’s stock valued at $3,034,000 after buying an additional 7,317 shares during the last quarter. 93.44% of the stock is owned by institutional investors.
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CTS Corporation is a manufacturer of sensors, electronic components and actuators. The Company designs, manufactures and sells a line of sensors, electronic components and actuators primarily to original equipment manufacturers (OEMs) for the transportation, industrial, medical, information technology, defense and aerospace, and communications markets.
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