Man Group plc acquired a new stake in shares of CTS Corporation (NYSE:CTS – Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 68,571 shares of the electronics maker’s stock, valued at approximately $4,470,000. Man Group plc owned approximately 0.24% of CTS as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of CTS in the 2nd quarter worth approximately $293,472,000. Bank of New York Mellon Corp acquired a new stake in shares of CTS during the 2nd quarter valued at approximately $14,716,000. Jupiter Topco LLC bought a new position in CTS during the second quarter worth $11,762,000. Heartland Advisors Inc. bought a new position in CTS during the second quarter worth $7,034,000. Finally, B. Metzler seel. Sohn & Co. AG acquired a new position in CTS in the second quarter worth $4,931,000. Institutional investors own 96.87% of the company’s stock.
CTS Trading Down 0.1%
NYSE:CTS opened at $56.53 on Monday. CTS Corporation has a 12-month low of $36.03 and a 12-month high of $69.55. The firm has a market capitalization of $1.61 billion, a P/E ratio of 23.75, a P/E/G ratio of 1.30 and a beta of 1.05. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.61 and a quick ratio of 2.07. The business has a 50 day simple moving average of $61.80 and a 200 day simple moving average of $58.04.
CTS Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 23rd. Investors of record on Friday, September 25th will be issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Friday, September 25th. CTS’s dividend payout ratio (DPR) is 6.72%.
Analysts Set New Price Targets
Several analysts have weighed in on CTS shares. Weiss Ratings lowered shares of CTS from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, August 25th. Wall Street Zen lowered shares of CTS from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 8th. Finally, Zacks Research downgraded shares of CTS from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 29th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, CTS currently has an average rating of “Hold”.
Get Our Latest Research Report on CTS
CTS Company Profile
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.
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