Azzad Asset Management Inc. ADV Invests $527,000 in CTS Corporation (NYSE:CTS)

Azzad Asset Management Inc. ADV purchased a new position in CTS Corporation (NYSE:CTS - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 12,692 shares of the electronics maker's stock, valued at approximately $527,000.

Several other institutional investors and hedge funds have also bought and sold shares of CTS. Allspring Global Investments Holdings LLC grew its stake in CTS by 252.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 65,174 shares of the electronics maker's stock worth $3,437,000 after purchasing an additional 46,686 shares during the period. Principal Financial Group Inc. raised its holdings in CTS by 2.7% in the 4th quarter. Principal Financial Group Inc. now owns 155,018 shares of the electronics maker's stock worth $8,174,000 after acquiring an additional 4,004 shares during the last quarter. Atria Wealth Solutions Inc. purchased a new stake in shares of CTS during the fourth quarter valued at $214,000. Handelsbanken Fonder AB grew its stake in shares of CTS by 7.0% in the fourth quarter. Handelsbanken Fonder AB now owns 7,685 shares of the electronics maker's stock worth $405,000 after acquiring an additional 500 shares during the period. Finally, Bank of New York Mellon Corp increased 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. 96.87% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

CTS Stock Performance

Shares of NYSE CTS traded down $0.10 during trading on Thursday, hitting $41.38. The company had a trading volume of 82,023 shares, compared to its average volume of 158,520. CTS Corporation has a 12 month low of $34.02 and a 12 month high of $59.68. The firm has a market capitalization of $1.23 billion, a P/E ratio of 20.90 and a beta of 0.80. The stock has a 50 day simple moving average of $40.32 and a 200 day simple moving average of $45.28. 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 announced its quarterly earnings data on Wednesday, April 30th. The electronics maker reported $0.44 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.05). The firm had revenue of $125.77 million for the quarter, compared to the consensus estimate of $128.72 million. CTS had a net margin of 11.70% and a return on equity of 12.32%. As a group, analysts anticipate that CTS Corporation will post 2.28 earnings per share for the current year.

CTS Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Friday, June 27th will be paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date is Friday, June 27th. CTS's dividend payout ratio (DPR) is 8.08%.

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.