Pacer Advisors Inc. significantly expanded its investment in CTS Corporation during the first quarter, a move that signals continued institutional confidence in the electronics manufacturer. The firm’s recent filing with the SEC revealed a substantial 17.3% increase in its stake, adding 422 shares to its portfolio. This strategic acquisition underscores the ongoing activity within the stock market as major players adjust their positions.
Following this share acquisition, Pacer Advisors Inc. now commands a total of 2,863 shares of the electronics maker’s stock. At the close of the most recent quarter, the aggregate value of Pacer Advisors Inc.’s holdings in CTS had reached a noteworthy $119,000, solidifying their presence among the company’s investors. This reflects a precise and calculated approach to portfolio management.
Pacer Advisors is not alone in recognizing the potential of CTS Corporation within the equity markets. Several other prominent institutional investors have also recently recalibrated their positions. For instance, Aristides Capital LLC notably augmented its holdings in CTS by 35.3% during the fourth quarter, accumulating 5,805 shares valued at $306,000. Similarly, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake by 4.0%, bringing its total to 17,119 shares worth $903,000.
The trend of increased institutional investment in CTS continues with firms like Deutsche Bank AG, which significantly boosted its stake by 50.9% in the fourth quarter, now owning 25,478 shares valued at $1,343,000. UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC, also demonstrated strong interest, enhancing its CTS holdings by 11.0% to a substantial 63,154 shares, commanding a valuation of $3,330,000. These actions highlight a broad belief in the company valuation.
Rounding out the significant shareholder activity, Bank of Montreal Can elevated its stake in CTS by 7.0% during the fourth quarter, bringing its ownership to 6,995 shares valued at $369,000. Collectively, hedge funds and other institutional investors now account for an overwhelming 96.87% of CTS Corporation’s outstanding stock, underscoring the company’s appeal to major financial entities. This robust institutional ownership often indicates stability and confidence in future stock performance.
CTS Corporation’s stock opened at $38.43 on a recent Friday, exhibiting various indicators of its financial health. The company maintains a healthy current ratio of 2.61, a quick ratio of 2.04, and a manageable debt-to-equity ratio of 0.16. Its market capitalization stands at $1.13 billion, supported by a price-to-earnings ratio of 18.13 and a PEG ratio of 1.07. These financial metrics provide a snapshot of the company’s operational efficiency and investor confidence.
The electronics manufacturer reported strong quarterly earnings on Thursday, July 24th, with an earnings per share (EPS) of $0.57, surpassing analyst estimates of $0.55 by $0.02. Revenue for the quarter reached $135.30 million, also exceeding projections. With a net margin of 12.32% and a return on equity of 12.31%, CTS continues to demonstrate robust profitability. Analysts further predict that CTS Corporation will post an EPS of 2.28 for the current year, reflecting positive outlooks for the company’s financial performance.
CTS Corporation operates as a global leader in the design and manufacture of sensors, actuators, and connectivity components across North America, Europe, and Asia. Their product portfolio spans a wide range of essential industrial components, including encoders, rotary position sensors, slide potentiometers, and both contacting and non-contacting pedals. This diversified product line caters to various industries, solidifying their position as a key player in the electronics manufacturing sector.
