Lord Abbett & CO. LLC Grows Position in Compass Diversified (NYSE:CODI)

Lord Abbett & CO. LLC lifted its position in shares of Compass Diversified (NYSE:CODI) by 1.4% during the third quarter, Holdings Channel.com reports. The firm owned 1,637,603 shares of the financial services provider’s stock after acquiring an additional 23,104 shares during the period. Lord Abbett & CO. LLC’s holdings in Compass Diversified were worth $36,240,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. HHM Wealth Advisors LLC acquired a new stake in Compass Diversified during the second quarter valued at $33,000. Farther Finance Advisors LLC boosted its stake in shares of Compass Diversified by 273.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,219 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 1,625 shares in the last quarter. Ridgewood Investments LLC acquired a new stake in shares of Compass Diversified during the 2nd quarter valued at about $55,000. Nisa Investment Advisors LLC raised its holdings in Compass Diversified by 190.3% in the 3rd quarter. Nisa Investment Advisors LLC now owns 3,051 shares of the financial services provider’s stock worth $68,000 after purchasing an additional 2,000 shares during the period. Finally, Ashton Thomas Private Wealth LLC purchased a new position in Compass Diversified during the second quarter worth approximately $137,000. 72.73% of the stock is owned by hedge funds and other institutional investors.

Compass Diversified Stock Down 0.5 %

CODI stock opened at $23.62 on Friday. Compass Diversified has a 52 week low of $19.76 and a 52 week high of $25.07. The company has a quick ratio of 1.62, a current ratio of 4.22 and a debt-to-equity ratio of 1.51. The firm has a 50-day simple moving average of $22.35 and a 200-day simple moving average of $22.06. The stock has a market capitalization of $1.79 billion, a P/E ratio of 49.21, a P/E/G ratio of 1.54 and a beta of 1.66.

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

Compass Diversified Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Thursday, October 17th were paid a dividend of $0.25 per share. The ex-dividend date was Thursday, October 17th. This represents a $1.00 annualized dividend and a yield of 4.23%. Compass Diversified’s dividend payout ratio (DPR) is presently 208.33%.

Insider Transactions at Compass Diversified

In related news, major shareholder Cgi Magyar Holdings Llc sold 135,274 shares of Compass Diversified stock in a transaction that occurred on 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 owns 7,456,197 shares in the company, valued at approximately $171,865,340.85. This trade represents a 1.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Patrick A. Maciariello acquired 5,000 shares of the stock in a transaction on Friday, September 20th. The shares were bought at an average cost of $21.87 per share, for a total transaction of $109,350.00. Following the purchase, the insider now directly owns 228,518 shares of the company’s stock, valued at $4,997,688.66. The trade was a 2.24 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.76% of the company’s stock.

Wall Street Analyst Weigh In

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

Compass Diversified 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.