CTS (CTS) Declares $0.04 Dividend
CTS said on May 11, 2023 that its board of directors declared a regular quarterly dividend of $0.04 per share ($0.16 annualized). Previously, the company paid $0.04 per share.
Shares must be purchased before the ex-div date of June 29, 2023 to qualify for the dividend. Shareholders of record as of June 30, 2023 will receive the payment on July 28, 2023.
At the current share price of $42.51 / share, the stock's dividend yield is 0.38%.
Looking back five years and taking a sample every week, the average dividend yield has been 0.51%, the lowest has been 0.34%, and the highest has been 0.84%. The standard deviation of yields is 0.11 (n=236).
The current dividend yield is 1.23 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.09. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
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What is the Fund Sentiment?
There are 516 funds or institutions reporting positions in CTS. This is an increase of 9 owner(s) or 1.78% in the last quarter. Average portfolio weight of all funds dedicated to CTS is 0.15%, a decrease of 9.80%. Total shares owned by institutions decreased in the last three months by 3.56% to 37,027K shares. 
The put/call ratio of CTS is 1.57, indicating a bearish outlook.
Analyst Price Forecast Suggests 7.97% Upside
As of May 11, 2023, the average one-year price target for CTS is 45.90. The forecasts range from a low of 41.41 to a high of $54.60. The average price target represents an increase of 7.97% from its latest reported closing price of 42.51.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for CTS is 621MM, an increase of 6.17%. The projected annual non-GAAP EPS is 2.63.
What are Other Shareholders Doing?
T. Rowe Price Investment Management holds 3,331K shares representing 10.56% ownership of the company. In it's prior filing, the firm reported owning 3,168K shares, representing an increase of 4.89%. The firm decreased its portfolio allocation in CTS by 4.42% over the last quarter.
IJR - iShares Core S&P Small-Cap ETF holds 2,363K shares representing 7.49% ownership of the company. In it's prior filing, the firm reported owning 2,328K shares, representing an increase of 1.46%. The firm decreased its portfolio allocation in CTS by 12.62% over the last quarter.
Earnest Partners holds 1,796K shares representing 5.69% ownership of the company. In it's prior filing, the firm reported owning 1,744K shares, representing an increase of 2.87%. The firm decreased its portfolio allocation in CTS by 11.09% over the last quarter.
Brown Advisory holds 1,509K shares representing 4.78% ownership of the company. In it's prior filing, the firm reported owning 1,358K shares, representing an increase of 9.99%. The firm decreased its portfolio allocation in CTS by 39.07% over the last quarter.
Gamco Investors, Inc. Et Al holds 1,404K shares representing 4.45% ownership of the company. In it's prior filing, the firm reported owning 1,417K shares, representing a decrease of 0.91%. The firm increased its portfolio allocation in CTS by 24.38% over the last quarter.
CTS Background Information
(This description is provided by the company.)
CTS Corporation is a leading designer and manufacturer of products that Sense, Connect, and Move. The company manufactures sensors, actuators, and electronic components in North America, Europe, and Asia, and provides engineered products to customers in the aerospace/defense, industrial, medical, telecommunications/IT, and transportation markets.
This story originally appeared on Fintel.