Madison Investment Advisors LLC Invests $3.79 Million in CTS Co. (NYSE:CTS)

Madison Investment Advisors LLC purchased a new stake in shares of CTS Co. (NYSE:CTS) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 71,823 shares of the electronics maker’s stock, valued at approximately $3,787,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Oppenheimer Asset Management Inc. increased its position in shares of CTS by 1.2% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 26,646 shares of the electronics maker’s stock valued at $1,405,000 after acquiring an additional 328 shares during the last quarter. Handelsbanken Fonder AB increased its position in shares of CTS by 7.0% during the fourth quarter. Handelsbanken Fonder AB now owns 7,685 shares of the electronics maker’s stock valued at $405,000 after acquiring an additional 500 shares during the last quarter. KBC Group NV increased its position in shares of CTS by 58.2% during the fourth quarter. KBC Group NV now owns 1,713 shares of the electronics maker’s stock valued at $90,000 after acquiring an additional 630 shares during the last quarter. Smartleaf Asset Management LLC increased its position in shares of CTS by 608.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 737 shares of the electronics maker’s stock valued at $39,000 after acquiring an additional 633 shares during the last quarter. Finally, Raymond James Trust N.A. increased its position in shares of CTS by 13.6% during the third quarter. Raymond James Trust N.A. now owns 5,587 shares of the electronics maker’s stock valued at $270,000 after acquiring an additional 669 shares during the last quarter. 96.87% of the stock is owned by hedge funds and other institutional investors.

CTS Stock Performance

NYSE:CTS opened at $42.25 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.50 and a quick ratio of 1.95. The business has a fifty day simple moving average of $46.78 and a two-hundred day simple moving average of $49.66. CTS Co. has a 1 year low of $41.23 and a 1 year high of $59.68. The company has a market capitalization of $1.27 billion, a P/E ratio of 22.23 and a beta of 0.57.

CTS (NYSE:CTS) last released its earnings results on Tuesday, February 4th. The electronics maker reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.06). CTS had a return on equity of 12.67% and a net margin of 11.27%. On average, analysts expect that CTS Co. will post 2.28 earnings per share for the current year.

CTS Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, March 28th will be given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date is Friday, March 28th. CTS’s dividend payout ratio is currently 8.42%.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised CTS from a “hold” rating to a “buy” rating in a research report on Monday, March 3rd.

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.