Azzad Asset Management Inc. ADV Buys Shares of 12,692 CTS Corporation (NYSE:CTS)

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

A number of other hedge funds have also recently modified their holdings of CTS. Allspring Global Investments Holdings LLC boosted its stake in shares of 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 buying an additional 46,686 shares during the last quarter. 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 purchasing an additional 4,004 shares during the period. Atria Wealth Solutions Inc. acquired a new position in CTS in the 4th quarter worth about $214,000. Handelsbanken Fonder AB raised its holdings in CTS by 7.0% in the 4th quarter. Handelsbanken Fonder AB now owns 7,685 shares of the electronics maker's stock worth $405,000 after purchasing an additional 500 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in CTS by 1.1% in the 4th quarter. Bank of New York Mellon Corp now owns 282,737 shares of the electronics maker's stock worth $14,909,000 after purchasing an additional 3,115 shares during the period. Hedge funds and other institutional investors own 96.87% of the company's stock.

Analysts Set New Price Targets

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

CTS Price Performance

NYSE CTS traded up $0.35 during trading hours on Wednesday, reaching $41.83. The company's stock had a trading volume of 17,520 shares, compared to its average volume of 158,081. The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of 21.14 and a beta of 0.80. 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 current ratio of 2.63 and a quick ratio of 2.05. The company's 50-day moving average is $40.26 and its two-hundred day moving average is $45.31.

CTS (NYSE:CTS - Get Free Report) last announced its earnings results on Wednesday, April 30th. The electronics maker reported $0.44 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 firm had revenue of $125.77 million for the quarter, compared to analyst estimates of $128.72 million. On average, equities analysts predict that CTS Corporation will post 2.28 EPS for the current year.

CTS Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Friday, June 27th will be issued a dividend of $0.04 per share. The ex-dividend date is Friday, June 27th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.38%. CTS's payout ratio is currently 8.08%.

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.