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

State Street Corp decreased its position in Compass Diversified (NYSE:CODI) by 0.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,220,920 shares of the financial services provider’s stock after selling 1,404 shares during the period. State Street Corp’s holdings in Compass Diversified were worth $27,019,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Bank of New York Mellon Corp raised its position in Compass Diversified by 14.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 240,161 shares of the financial services provider’s stock valued at $5,257,000 after purchasing an additional 29,580 shares in the last quarter. Sei Investments Co. raised its holdings in shares of Compass Diversified by 9.2% in the second quarter. Sei Investments Co. now owns 703,142 shares of the financial services provider’s stock valued at $15,392,000 after acquiring an additional 59,172 shares in the last quarter. Essex Financial Services Inc. lifted its stake in Compass Diversified by 20.2% in the third quarter. Essex Financial Services Inc. now owns 1,302,174 shares of the financial services provider’s stock worth $27,372,000 after acquiring an additional 218,394 shares during the period. International Assets Investment Management LLC bought a new position in Compass Diversified during the 3rd quarter worth about $1,058,000. Finally, Allspring Global Investments Holdings LLC increased its position in Compass Diversified by 3.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,257,759 shares of the financial services provider’s stock valued at $94,224,000 after purchasing an additional 140,384 shares during the period. Hedge funds and other institutional investors own 72.73% of the company’s stock.

Insider Activity at Compass Diversified

In related news, major shareholder Cgi Magyar Holdings Llc sold 135,274 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $23.05, for a total transaction of $3,118,065.70. Following the transaction, 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 sale was disclosed in a filing with the SEC, which is available at this link. 1.76% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

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

Compass Diversified Trading Up 1.5 %

CODI opened at $23.35 on Monday. The company has a current ratio of 4.22, a quick ratio of 1.62 and a debt-to-equity ratio of 1.51. The firm 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. Compass Diversified has a 12 month low of $19.76 and a 12 month high of $25.07. The stock has a fifty day moving average price of $22.59 and a 200-day moving average price of $22.09.

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

Compass Diversified Announces Dividend

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

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.