Swedbank AB Acquires New Holdings in Compass Diversified (NYSE:CODI)

Swedbank AB acquired a new stake in Compass Diversified (NYSE:CODI) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 149,375 shares of the financial services provider’s stock, valued at approximately $3,306,000. Swedbank AB owned about 0.20% of Compass Diversified at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the business. Bank of New York Mellon Corp increased 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 during the period. Sei Investments Co. increased its position in Compass Diversified by 9.2% during the 2nd quarter. Sei Investments Co. now owns 703,142 shares of the financial services provider’s stock valued at $15,392,000 after purchasing an additional 59,172 shares during the period. Essex Financial Services Inc. increased its position in Compass Diversified by 20.2% during the 3rd quarter. Essex Financial Services Inc. now owns 1,302,174 shares of the financial services provider’s stock valued at $27,372,000 after purchasing an additional 218,394 shares during the period. International Assets Investment Management LLC acquired a new stake in Compass Diversified during the 3rd quarter valued at approximately $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. Institutional investors own 72.73% of the company’s stock.

Compass Diversified Stock Performance

Shares of CODI stock opened at $23.64 on Thursday. The company has a market cap of $1.79 billion, a price-to-earnings ratio of 49.25, a price-to-earnings-growth ratio of 1.52 and a beta of 1.67. 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 moving average of $21.91 and a 200-day moving average of $21.93.

Compass Diversified (NYSE:CODI) last announced 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 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 company’s quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.34 EPS. On average, equities analysts forecast that Compass Diversified will post 1.95 earnings per share for the current year.

Compass Diversified Dividend Announcement

The business also recently disclosed 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 4.23%. The ex-dividend date of this dividend was Thursday, October 17th. Compass Diversified’s dividend payout ratio (DPR) is 208.33%.

Insider Buying and Selling

In related news, major shareholder Cgi Magyar Holdings Llc sold 135,274 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $23.05, for a total value of $3,118,065.70. Following the transaction, the insider now directly owns 7,456,197 shares in the company, valued at $171,865,340.85. This trade represents a 1.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Patrick A. Maciariello bought 5,000 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was purchased at an average price of $21.87 per share, for a total transaction of $109,350.00. Following the completion of the acquisition, the insider now owns 228,518 shares in the company, valued at $4,997,688.66. This represents a 2.24 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.76% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

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

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.