Barclays PLC Increases Stake in Compass Diversified (NYSE:CODI)

Barclays PLC grew its stake in shares of Compass Diversified (NYSE:CODI) by 296.3% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 105,774 shares of the financial services provider’s stock after purchasing an additional 79,086 shares during the quarter. Barclays PLC owned approximately 0.14% of Compass Diversified worth $2,341,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Wedbush Securities Inc. raised its position in Compass Diversified by 2.1% during the 2nd quarter. Wedbush Securities Inc. now owns 28,405 shares of the financial services provider’s stock valued at $622,000 after purchasing an additional 571 shares during the last quarter. Rockefeller Capital Management L.P. lifted its stake in Compass Diversified by 5.1% in the third quarter. Rockefeller Capital Management L.P. now owns 11,766 shares of the financial services provider’s stock worth $260,000 after acquiring an additional 572 shares during the period. Truist Financial Corp boosted its holdings in Compass Diversified by 1.6% in the second quarter. Truist Financial Corp now owns 48,746 shares of the financial services provider’s stock valued at $1,067,000 after acquiring an additional 748 shares in the last quarter. Verdence Capital Advisors LLC increased its position in Compass Diversified by 5.0% during the 3rd quarter. Verdence Capital Advisors LLC now owns 15,830 shares of the financial services provider’s stock valued at $350,000 after purchasing an additional 755 shares during the period. Finally, D.A. Davidson & CO. lifted its position in shares of Compass Diversified by 1.1% in the 3rd quarter. D.A. Davidson & CO. now owns 78,296 shares of the financial services provider’s stock worth $1,733,000 after purchasing an additional 817 shares during the period. Institutional investors own 72.73% of the company’s stock.

Insider Buying and Selling

In related news, major shareholder Cgi Magyar Holdings Llc sold 135,274 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $23.05, for a total value of $3,118,065.70. Following the completion of the transaction, the insider now directly owns 7,456,197 shares in the company, valued at $171,865,340.85. The trade was a 1.78 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.76% of the stock is currently owned by company insiders.

Compass Diversified Price Performance

Shares of CODI opened at $23.23 on Thursday. Compass Diversified has a fifty-two week low of $19.76 and a fifty-two week high of $25.07. The firm’s 50-day simple moving average is $22.68 and its two-hundred day simple moving average is $22.10. The stock has a market cap of $1.76 billion, a PE ratio of 48.40, a price-to-earnings-growth ratio of 1.54 and a beta of 1.66. The company has a debt-to-equity ratio of 1.51, a quick ratio of 1.62 and a current ratio of 4.22.

Compass Diversified (NYSE:CODI) last posted its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.10. The company had revenue of $582.62 million for the quarter, compared to the consensus estimate of $571.68 million. Compass Diversified had a return on equity of 12.25% and a net margin of 6.24%. The firm’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.34 EPS. Analysts anticipate that Compass Diversified will post 1.96 earnings per share for the current fiscal year.

Compass Diversified Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Thursday, October 17th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.30%. The ex-dividend date of this dividend was Thursday, October 17th. Compass Diversified’s dividend payout ratio is presently 208.33%.

Analyst Upgrades and Downgrades

Separately, TD Cowen began coverage on shares of Compass Diversified in a report on Wednesday, November 27th. They issued a “buy” rating and a $34.00 price objective for the company.

About Compass Diversified

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.