CTS Co. Registers Significant Short Interest Spike in November

CTS Corporation (NYSE:CTS) experienced a noteworthy surge in short interest during the month of November. The recorded short interest as of November 15th reached 732,900 shares, marking a substantial 23.0% increase from the 596,000 shares noted on October 31st. At present, shorts account for 2.4% of the company's shares. The days-to-cover ratio, which is based on the average trading volume of 158,500 shares, stands at 4.6 days.

CTS Price Performance

The CTS stock commenced trading at $39.87 on the recent Friday. Observing its performance over time, the company maintains a 50-day simple moving average at around $39.80 and a 200-day average of $42.35. Its yearly trajectory shows a low and high of $35.50 and $49.59, respectively. Financial ratios like a debt-to-equity of 0.15, a quick ratio of 2.60, and a current ratio of 3.23 reflect the company's stability. CTS boasts a market capitalization of $1.24 billion, a P/E ratio of 20.98, and a beta of 0.64, pinpointing its market behavior and valuation.

The electronics manufacturer reported quarterly earnings on October 26th, with an earnings per share (EPS) of $0.54 for the quarter. The company's return on equity is impressive at 14.15% and it boasts a net margin of 10.59%. Revenue was stated as $134.55 million during the quarter. Projections are set for CTS to hit 2.2 EPS for the current financial year.

CTS Announces Dividend

A recently declared quarterly dividend is to be paid out to shareholders on January 26th. Those on record as of December 29th will receive $0.04 per share, with the ex-dividend date being December 28th. This calculates to an annualized dividend of $0.16 and a yield of 0.40%. The dividend payout ratio (DPR) currently stands at 8.42%.

Analysts Set New Price Targets

In recent analytical reports, CTS has had varied opinions. A downgrade from 'buy' to 'hold' by StockNews.com and a lowered price target from Stephens, adjusting from $41.00 to $39.00 with an 'equal weight' rating, indicate differing expectations from market analysts.

Institutional Trading of CTS

Several institutional investors have modified their holdings in CTS. Wellington Management Group LLP increased their shareholdings by 10.3%, now owning 1,249,116 shares. Deutsche Bank AG's stakes grew by 18.7%, now totaling 16,159 shares. New shares were acquired by Comerica Bank, while Penserra Capital Management LLC saw a significant holdings increase by 165.0%. The Manufacturers Life Insurance Company also upped their investment by 23.4%. Collectively, institutional investors and hedge funds own 92.57% of CTS stock.

CTS Company Profile

CTS Corporation is a global leader in the manufacturing and selling of sensors, actuators, and connectivity components across North America, Europe, and Asia. The company's products find applications in vehicles, telecommunications, IT, and various high-speed applications. They also provide switches, temperature sensors, and potentiometers to multiple industries, as well as fabricate piezoelectric materials for the medical, industrial, aerospace, defense, and IT sectors.

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