State Street Corp Reduces Position in Compass Diversified (NYSE:CODI)

State Street Corp trimmed its stake in Compass Diversified (NYSE:CODI) by 0.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,220,920 shares of the financial services provider’s stock after selling 1,404 shares during the period. State Street Corp owned 1.61% of Compass Diversified worth $27,019,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Bank of New York Mellon Corp increased its position in Compass Diversified by 14.0% in the second quarter. Bank of New York Mellon Corp now owns 240,161 shares of the financial services provider’s stock worth $5,257,000 after buying an additional 29,580 shares in the last quarter. Verdence Capital Advisors LLC bought a new stake in Compass Diversified during the 2nd quarter valued at approximately $330,000. Allspring Global Investments Holdings LLC boosted its stake in Compass Diversified by 2.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,117,375 shares of the financial services provider’s stock worth $90,129,000 after purchasing an additional 80,089 shares during the period. Ridgewood Investments LLC purchased a new position in shares of Compass Diversified in the second quarter worth $55,000. Finally, Van ECK Associates Corp boosted its position in shares of Compass Diversified by 20.4% during the second quarter. Van ECK Associates Corp now owns 7,571 shares of the financial services provider’s stock worth $166,000 after acquiring an additional 1,285 shares during the last quarter. 72.73% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, TD Cowen started coverage on shares of Compass Diversified in a research note on Wednesday, November 27th. They issued a “buy” rating and a $34.00 price target on the stock.

Insider Activity at Compass Diversified

In related news, major shareholder Cgi Magyar Holdings Llc sold 135,274 shares of the stock in a transaction dated 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 sale, the insider now directly owns 7,456,197 shares of the company’s stock, valued at $171,865,340.85. This represents a 1.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.76% of the stock is currently owned by insiders.

Compass Diversified Price Performance

Compass Diversified stock opened at $23.35 on Monday. Compass Diversified has a 52-week low of $19.76 and a 52-week high of $25.07. The company has a market cap of $1.77 billion, a price-to-earnings ratio of 48.65, a PEG ratio of 1.54 and a beta of 1.66. The firm’s fifty day moving average is $22.59 and its 200 day moving average is $22.09. The company has a quick ratio of 1.62, a current ratio of 4.22 and a debt-to-equity ratio of 1.51.

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

Compass Diversified Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Thursday, October 17th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 4.28%. The ex-dividend date was Thursday, October 17th. Compass Diversified’s dividend payout ratio is currently 208.33%.

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.