Geode Capital Management LLC Acquires 6,062 Shares of Compass Minerals International, Inc. (NYSE:CMP)

Geode Capital Management LLC lifted its holdings in Compass Minerals International, Inc. (NYSE:CMP) by 0.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 782,811 shares of the basic materials company’s stock after acquiring an additional 6,062 shares during the period. Geode Capital Management LLC owned 1.89% of Compass Minerals International worth $9,412,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Michelson Medical Research Foundation Inc. bought a new position in Compass Minerals International in the 3rd quarter valued at $6,070,000. SW Investment Management LLC purchased a new stake in shares of Compass Minerals International during the second quarter valued at $3,099,000. Bank of Montreal Can grew its holdings in shares of Compass Minerals International by 127.5% in the third quarter. Bank of Montreal Can now owns 525,097 shares of the basic materials company’s stock worth $6,506,000 after purchasing an additional 294,333 shares during the last quarter. Invenomic Capital Management LP grew its holdings in shares of Compass Minerals International by 23.9% in the third quarter. Invenomic Capital Management LP now owns 969,085 shares of the basic materials company’s stock worth $11,648,000 after purchasing an additional 186,717 shares during the last quarter. Finally, Squarepoint Ops LLC purchased a new position in Compass Minerals International in the 2nd quarter worth about $1,274,000. 99.78% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on CMP. BMO Capital Markets decreased their target price on Compass Minerals International from $20.00 to $18.00 and set a “market perform” rating for the company in a research report on Wednesday, December 18th. StockNews.com raised shares of Compass Minerals International to a “sell” rating in a research note on Wednesday, September 18th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $30.50.

Compass Minerals International Stock Performance

CMP opened at $11.25 on Thursday. The firm’s 50-day moving average price is $13.14 and its 200-day moving average price is $11.77. The company has a market cap of $466.35 million, a P/E ratio of -2.74 and a beta of 1.17. The company has a quick ratio of 0.74, a current ratio of 2.90 and a debt-to-equity ratio of 2.47. Compass Minerals International, Inc. has a 52-week low of $7.51 and a 52-week high of $25.52.

Compass Minerals International (NYSE:CMP) last issued its earnings results on Monday, December 16th. The basic materials company reported ($0.77) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.82). The firm had revenue of $208.80 million during the quarter, compared to analysts’ expectations of $323.61 million. Compass Minerals International had a positive return on equity of 4.75% and a negative net margin of 14.81%. The business’s revenue was down 38.9% on a year-over-year basis. During the same quarter last year, the business earned $0.05 EPS. As a group, equities analysts anticipate that Compass Minerals International, Inc. will post 0.04 EPS for the current fiscal year.

About Compass Minerals International

Compass Minerals International, Inc, provides essential minerals in the United States, Canada, the United Kingdom, and internationally. It operates through two segments, Salt and Plant Nutrition. The Salt segment produces, markets, and sells sodium chloride and magnesium chloride, including rock salt, mechanically and solar evaporated salt, and brine and flake magnesium chloride products; and purchases potassium chloride and calcium chloride to sell as finished products or to blend with sodium chloride to produce specialty products.