Allspring Global Investments Holdings LLC Cuts Position in CTS Corporation (NYSE:CTS)

Allspring Global Investments Holdings LLC trimmed its position in CTS Corporation (NYSE:CTS - Free Report) by 37.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,844 shares of the electronics maker's stock after selling 24,330 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.14% of CTS worth $1,678,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of CTS. Bank of New York Mellon Corp grew its position in CTS by 1.1% during the fourth quarter. Bank of New York Mellon Corp now owns 282,737 shares of the electronics maker's stock valued at $14,909,000 after acquiring an additional 3,115 shares during the last quarter. Smartleaf Asset Management LLC grew its position in CTS by 608.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 737 shares of the electronics maker's stock valued at $39,000 after acquiring an additional 633 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in CTS by 1.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 392,690 shares of the electronics maker's stock valued at $20,707,000 after acquiring an additional 7,088 shares during the last quarter. Raymond James Financial Inc. bought a new position in CTS during the fourth quarter valued at approximately $15,852,000. Finally, Madison Investment Advisors LLC bought a new position in CTS during the fourth quarter valued at approximately $3,787,000. 96.87% of the stock is owned by hedge funds and other institutional investors.

CTS Trading Up 0.3%

Shares of NYSE CTS traded up $0.15 during mid-day trading on Thursday, hitting $43.42. The stock had a trading volume of 45,338 shares, compared to its average volume of 160,801. The business has a 50 day moving average price of $41.71 and a two-hundred day moving average price of $44.04. CTS Corporation has a 1 year low of $34.02 and a 1 year high of $59.68. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.05 and a current ratio of 2.63. The firm has a market cap of $1.30 billion, a P/E ratio of 21.93 and a beta of 0.80.

CTS (NYSE:CTS - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The electronics maker reported $0.44 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.49 by ($0.05). The firm had revenue of $125.77 million during the quarter, compared to analysts' expectations of $128.72 million. CTS had a net margin of 11.70% and a return on equity of 12.32%. On average, equities analysts anticipate that CTS Corporation will post 2.28 EPS for the current fiscal year.

CTS Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Friday, June 27th will be given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.37%. The ex-dividend date of this dividend is Friday, June 27th. CTS's dividend payout ratio is currently 8.08%.

Analyst Ratings Changes

Separately, Wall Street Zen cut shares of CTS from a "buy" rating to a "hold" rating in a research report on Friday, May 30th.

CTS Profile

CTS Corporation manufactures and sells sensors, actuators, and connectivity components in North America, Europe, and Asia. The company provides encoders, rotary position sensors, slide potentiometers, industrial and commercial rotary potentiometers. It also provides non-contacting, and contacting pedals; and eBrake pedals.