CTS Co. (CTS) Stake Lowered by Gabelli Funds LLC

Gabelli Funds LLC lowered its stake in shares of CTS Co. (NYSE:CTS) by 1.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 766,000 shares of the electronics maker’s stock after selling 8,000 shares during the period. Gabelli Funds LLC’s holdings in CTS were worth $19,725,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Schwab Charles Investment Management Inc. increased its position in shares of CTS by 5.3% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 160,295 shares of the electronics maker’s stock valued at $4,128,000 after buying an additional 8,061 shares during the period. Wedge Capital Management L L P NC increased its position in shares of CTS by 35.6% during the third quarter. Wedge Capital Management L L P NC now owns 60,150 shares of the electronics maker’s stock valued at $1,450,000 after buying an additional 15,800 shares during the period. Bessemer Group Inc. purchased a new position in shares of CTS during the fourth quarter valued at about $533,000. SG Americas Securities LLC purchased a new position in shares of CTS during the third quarter valued at about $387,000. Finally, Neuberger Berman Group LLC purchased a new position in shares of CTS during the third quarter valued at about $209,000. Institutional investors own 93.85% of the company’s stock.

Separately, ValuEngine cut shares of CTS from a “buy” rating to a “hold” rating in a research report on Thursday, December 7th.

CTS Co. (NYSE CTS) opened at $26.85 on Thursday. CTS Co. has a 52-week low of $19.30 and a 52-week high of $28.45. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.93 and a current ratio of 2.28. The stock has a market cap of $886.01, a PE ratio of 21.69 and a beta of 1.25.

CTS (NYSE:CTS) last announced its quarterly earnings results on Tuesday, February 6th. The electronics maker reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.09. The company had revenue of $110.90 million for the quarter, compared to analysts’ expectations of $106.82 million. CTS had a net margin of 3.42% and a return on equity of 12.16%. CTS’s quarterly revenue was up 9.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.29 earnings per share. research analysts forecast that CTS Co. will post 1.27 EPS for the current fiscal year.

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About CTS

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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Institutional Ownership by Quarter for CTS (NYSE:CTS)

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