Nuveen Asset Management LLC Reduces Stock Position in CTS Co. (NYSE:CTS)

Nuveen Asset Management LLC trimmed its holdings in CTS Co. (NYSE:CTS - Free Report) by 8.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 87,959 shares of the electronics maker's stock after selling 8,222 shares during the quarter. Nuveen Asset Management LLC owned about 0.29% of CTS worth $4,638,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Quarry LP raised its stake in shares of CTS by 572.4% in the fourth quarter. Quarry LP now owns 659 shares of the electronics maker's stock worth $35,000 after purchasing an additional 561 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in shares of CTS by 608.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 737 shares of the electronics maker's stock worth $39,000 after purchasing an additional 633 shares during the last quarter. KBC Group NV raised its stake in shares of CTS by 58.2% in the fourth quarter. KBC Group NV now owns 1,713 shares of the electronics maker's stock worth $90,000 after purchasing an additional 630 shares during the last quarter. Envestnet Portfolio Solutions Inc. purchased a new stake in shares of CTS in the fourth quarter worth approximately $202,000. Finally, Corient Private Wealth LLC purchased a new stake in shares of CTS in the fourth quarter worth approximately $214,000. 96.87% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

CTS Stock Down 0.1%

Shares of CTS stock traded down $0.04 on Wednesday, hitting $41.66. The company had a trading volume of 134,018 shares, compared to its average volume of 158,565. The stock has a market capitalization of $1.24 billion, a price-to-earnings ratio of 21.93 and a beta of 0.76. CTS Co. has a 1 year low of $34.02 and a 1 year high of $59.68. The stock has a 50 day moving average of $39.52 and a 200-day moving average of $46.14. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.95 and a current ratio of 2.50.

CTS (NYSE:CTS - Get Free Report) last released its earnings results on Wednesday, April 30th. The electronics maker reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.05). The business had revenue of $125.77 million during the quarter, compared to the consensus estimate of $128.72 million. CTS had a net margin of 11.27% and a return on equity of 12.67%. As a group, sell-side analysts forecast that CTS Co. will post 2.28 earnings per share for the current year.

CTS Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Friday, June 27th will be issued a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.38%. The ex-dividend date of this dividend is Friday, June 27th. CTS's dividend payout ratio is presently 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.