Azzad Asset Management Inc. ADV Takes $527,000 Position in CTS Co. (NYSE:CTS)

Azzad Asset Management Inc. ADV acquired a new stake in shares of CTS Co. (NYSE:CTS) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 12,692 shares of the electronics maker’s stock, valued at approximately $527,000.

A number of other large investors have also recently made changes to their positions in CTS. Raymond James Financial Inc. purchased a new stake in shares of CTS during the fourth quarter valued at $15,852,000. Norges Bank purchased a new stake in shares of CTS during the fourth quarter valued at $4,439,000. T. Rowe Price Investment Management Inc. grew its holdings in shares of CTS by 3.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,218,002 shares of the electronics maker’s stock valued at $116,956,000 after buying an additional 73,435 shares during the last quarter. Madison Investment Advisors LLC purchased a new stake in shares of CTS during the fourth quarter valued at $3,787,000. Finally, JPMorgan Chase & Co. grew its holdings in shares of CTS by 72.5% during the fourth quarter. JPMorgan Chase & Co. now owns 135,969 shares of the electronics maker’s stock valued at $7,170,000 after buying an additional 57,135 shares during the last quarter. 96.87% of the stock is owned by hedge funds and other institutional investors.

CTS Trading Down 3.4%

Shares of CTS stock opened at $41.10 on Monday. The firm has a 50-day simple moving average of $40.06 and a two-hundred day simple moving average of $45.49. The company has a market cap of $1.23 billion, a P/E ratio of 21.63 and a beta of 0.80. CTS Co. has a fifty-two week low of $34.02 and a fifty-two week high of $59.68. 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) last issued its quarterly earnings data on Wednesday, April 30th. The electronics maker reported $0.44 earnings per share 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 analyst estimates of $128.72 million. CTS had a return on equity of 12.67% and a net margin of 11.27%. As a group, equities analysts predict that CTS Co. will post 2.28 earnings per share 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. The ex-dividend date of this dividend is Friday, June 27th. This represents a $0.16 annualized dividend and a dividend yield of 0.39%. CTS’s dividend payout ratio (DPR) is presently 8.08%.

Wall Street Analysts Forecast Growth

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 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.