Hennessy Advisors Inc. acquired a new stake in Compass Minerals International, Inc. (NYSE:CMP – Free Report) in the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 345,500 shares of the basic materials company’s stock, valued at approximately $10,755,000.
Other hedge funds have also modified their holdings of the company. Fifth Third Bancorp increased its holdings in shares of Compass Minerals International by 6,266.7% in the 1st quarter. Fifth Third Bancorp now owns 1,719 shares of the basic materials company’s stock valued at $40,000 after acquiring an additional 1,692 shares during the period. Comerica Bank boosted its stake in Compass Minerals International by 80.0% during the 4th quarter. Comerica Bank now owns 1,868 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 830 shares during the period. PNC Financial Services Group Inc. boosted its stake in Compass Minerals International by 94.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,216 shares of the basic materials company’s stock worth $52,000 after purchasing an additional 1,076 shares during the period. Meeder Asset Management Inc. purchased a new position in Compass Minerals International during the 1st quarter worth $70,000. Finally, Headlands Technologies LLC purchased a new position in Compass Minerals International during the 2nd quarter worth $83,000. 99.78% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of equities analysts recently issued reports on CMP shares. JPMorgan Chase & Co. reissued an “underweight” rating and set a $27.00 price target (down from $30.00) on shares of Compass Minerals International in a report on Monday, August 10th. Zacks Research downgraded Compass Minerals International from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Wall Street Zen lowered Compass Minerals International from a “buy” rating to a “hold” rating in a report on Sunday, August 2nd. Compass Point set a $27.00 price target on Compass Minerals International in a research note on Monday, August 10th. Finally, Weiss Ratings lowered shares of Compass Minerals International from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, August 13th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Compass Minerals International presently has an average rating of “Reduce” and an average target price of $27.60.
Compass Minerals International Trading Down 0.8%
NYSE:CMP opened at $24.74 on Friday. The company has a debt-to-equity ratio of 2.72, a quick ratio of 0.98 and a current ratio of 2.01. Compass Minerals International, Inc. has a 1 year low of $16.40 and a 1 year high of $34.50. The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of 57.53 and a beta of 1.23. The stock has a fifty day moving average price of $28.31 and a two-hundred day moving average price of $27.00.
Compass Minerals International (NYSE:CMP – Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The basic materials company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.08). The company had revenue of $215.30 million during the quarter, compared to analyst estimates of $207.75 million. Compass Minerals International had a net margin of 1.42% and a return on equity of 12.75%. The firm’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter last year, the business earned ($0.39) EPS. As a group, sell-side analysts anticipate that Compass Minerals International, Inc. will post 0.92 earnings per share for the current fiscal year.
About Compass Minerals International
Compass Minerals International, Inc is a global producer of essential mineral-based products, primarily known for its salt and plant nutrition portfolios. The company’s deicing salts are used by municipalities and commercial customers across North America to maintain safer roadways in winter months. In addition, its water conditioning salts serve both residential and industrial users, supporting water treatment systems that remove hard minerals to protect plumbing and equipment.
Beyond conventional salt products, Compass Minerals has developed a specialty plant nutrition business focused on sulfate of potash (SOP), a premium fertilizer that provides both potassium and sulfur to crops.
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