CTS Corporation Board of Directors Authorizes New Share Repurchase Plan
Rhea-AI Summary
The Board of Directors of CTS has authorized a new share repurchase program allowing for the repurchase of up to $50 million of its common stock, replacing a previous program established in May 2021. This move is designed to enhance shareholder value and reflects the Board's confidence in the company's financial strength and prospects. CTS specializes in sensors, actuators, and electronic components, serving markets including aerospace, industrial, medical, and transportation across North America, Europe, and Asia.
Positive
- Authorization of a new share repurchase program for up to $50 million enhances shareholder value.
- Demonstrates confidence in the company's financial health and future prospects.
Negative
- None.
News Market Reaction – CTS
In the trading session that priced this news, CTS gained 4.25%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
LISLE, Ill., Feb. 09, 2023 (GLOBE NEWSWIRE) -- The Board of Directors of CTS Corporation (NYSE: CTS) approved a new share repurchase program that authorizes the company to repurchase up to
About CTS
CTS (NYSE: CTS) is a leading designer and manufacturer of products that Sense, Connect, and Move. The company manufactures sensors, actuators, and electronic components in North America, Europe, and Asia, and provides engineered products to customers in the aerospace/defense, industrial, medical, and transportation markets. For more information, visit www.ctscorp.com.
Contact
Ashish Agrawal
Vice President and Chief Financial Officer
CTS Corporation
4925 Indiana Avenue
Lisle, IL 60532
USA
Telephone: +1 (630) 577-8800
Email: ashish.agrawal@ctscorp.com
