Compass Diversified (NYSE:CODI) Shares Down 6.8%

Compass Diversified (NYSE:CODI)’s stock price dropped 6.8% during mid-day trading on Thursday . The stock traded as low as $20.54 and last traded at $21.03. Approximately 98,839 shares were traded during trading, a decline of 52% from the average daily volume of 204,321 shares. The stock had previously closed at $22.57.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Bank of America raised their price objective on Compass Diversified from $27.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. Oppenheimer raised their price target on shares of Compass Diversified from $21.00 to $23.00 and gave the company a “market perform” rating in a research report on Tuesday, March 5th. Finally, William Blair reaffirmed an “outperform” rating on shares of Compass Diversified in a research report on Thursday.

Compass Diversified Trading Up 1.6 %

The firm has a 50-day moving average price of $23.31 and a 200-day moving average price of $21.71. The company has a current ratio of 5.13, a quick ratio of 2.76 and a debt-to-equity ratio of 1.37. The stock has a market capitalization of $1.63 billion, a PE ratio of 127.54 and a beta of 1.72.

Compass Diversified (NYSE:CODI) last posted its quarterly earnings data on Wednesday, February 28th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.09). The company had revenue of $566.99 million for the quarter, compared to analysts’ expectations of $581.07 million. Compass Diversified had a return on equity of 11.84% and a net margin of 4.61%. As a group, equities analysts forecast that Compass Diversified will post 1.93 EPS for the current fiscal year.

Compass Diversified Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 25th. Investors of record on Thursday, April 18th were paid a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, April 17th. This represents a $1.00 annualized dividend and a yield of 4.61%. Compass Diversified’s payout ratio is 588.27%.

Insiders Place Their Bets

In other Compass Diversified news, major shareholder Cgi Magyar Holdings Llc sold 7,510 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $24.92, for a total transaction of $187,149.20. Following the sale, the insider now directly owns 7,991,471 shares of the company’s stock, valued at $199,147,457.32. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 1.76% of the company’s stock.

Institutional Investors Weigh In On Compass Diversified

Several institutional investors have recently made changes to their positions in CODI. Allspring Global Investments Holdings LLC raised its stake in shares of Compass Diversified by 21,508.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 3,690,210 shares of the financial services provider’s stock valued at $82,845,000 after purchasing an additional 3,673,132 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of Compass Diversified by 8.4% in the fourth quarter. The Manufacturers Life Insurance Company now owns 1,633,222 shares of the financial services provider’s stock worth $36,666,000 after buying an additional 126,072 shares in the last quarter. Blair William & Co. IL lifted its holdings in shares of Compass Diversified by 12.2% in the third quarter. Blair William & Co. IL now owns 723,211 shares of the financial services provider’s stock worth $13,575,000 after buying an additional 78,397 shares in the last quarter. UBS Group AG boosted its position in shares of Compass Diversified by 11.1% in the fourth quarter. UBS Group AG now owns 708,786 shares of the financial services provider’s stock valued at $15,912,000 after acquiring an additional 71,075 shares during the period. Finally, Navellier & Associates Inc. purchased a new position in Compass Diversified during the third quarter valued at approximately $1,239,000. Hedge funds and other institutional investors own 72.73% of the company’s stock.

Compass Diversified Company Profile

Compass Diversified is a private equity firm specializing in add on acquisitions, buyouts, industry consolidation, recapitalization, late stage and middle market investments. It seeks to invest in niche industrial or branded consumer companies, manufacturing, distribution, consumer products, business services sector, healthcare, safety & security, electronic components, food and foodservice.