CTS Corporation (NYSE:CTS) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC reduced its stake in CTS Corporation (NYSE:CTS - Free Report) by 37.3% during the 1st 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 period. Allspring Global Investments Holdings LLC owned approximately 0.14% of CTS worth $1,678,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Bank of New York Mellon Corp raised its stake in CTS by 1.1% in 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 buying an additional 3,115 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of CTS by 608.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 737 shares of the electronics maker's stock worth $39,000 after buying an additional 633 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of CTS by 1.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 392,690 shares of the electronics maker's stock worth $20,707,000 after buying an additional 7,088 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of CTS during the fourth quarter worth about $15,852,000. Finally, Madison Investment Advisors LLC purchased a new position in shares of CTS during the fourth quarter worth about $3,787,000. 96.87% of the stock is currently owned by institutional investors and hedge funds.

CTS Stock Performance

CTS traded down $0.92 during trading on Friday, reaching $41.88. The company's stock had a trading volume of 157,362 shares, compared to its average volume of 161,430. CTS Corporation has a 52-week low of $34.02 and a 52-week high of $59.68. The company's fifty day moving average price is $41.93 and its 200-day moving average price is $43.88. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of 21.15 and a beta of 0.80. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.05 and a current ratio of 2.63.

CTS (NYSE:CTS - Get Free Report) last posted its quarterly earnings results 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). CTS had a net margin of 11.70% and a return on equity of 12.32%. The company had revenue of $125.77 million for the quarter, compared to analyst estimates of $128.72 million. On average, equities analysts forecast that CTS Corporation will post 2.28 earnings per share for the current fiscal year.

CTS Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Friday, June 27th. This represents a $0.16 annualized dividend and a dividend yield of 0.38%. CTS's dividend payout ratio is currently 8.08%.

Wall Street Analysts Forecast Growth

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

CTS Company 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.