The Manufacturers Life Insurance Company Decreases Stock Holdings in Compass Diversified (NYSE:CODI)

The Manufacturers Life Insurance Company lowered its position in Compass Diversified (NYSE:CODI) by 0.7% during the third quarter, Holdings Channel reports. The institutional investor owned 1,085,195 shares of the financial services provider’s stock after selling 7,289 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Compass Diversified were worth $24,015,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. HHM Wealth Advisors LLC acquired a new stake in Compass Diversified in the second quarter valued at approximately $33,000. Farther Finance Advisors LLC boosted its position in shares of Compass Diversified by 273.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,219 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 1,625 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Compass Diversified during the 2nd quarter worth $53,000. Ridgewood Investments LLC acquired a new position in Compass Diversified during the 2nd quarter valued at about $55,000. Finally, Nisa Investment Advisors LLC raised its stake in Compass Diversified by 190.3% in the third quarter. Nisa Investment Advisors LLC now owns 3,051 shares of the financial services provider’s stock valued at $68,000 after buying an additional 2,000 shares during the last quarter. Institutional investors own 72.73% of the company’s stock.

Insider Activity

In related news, insider Patrick A. Maciariello purchased 5,000 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was bought at an average cost of $21.87 per share, with a total value of $109,350.00. Following the completion of the acquisition, the insider now 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Cgi Magyar Holdings Llc sold 135,274 shares of the firm’s 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 sale, the insider now directly owns 7,456,197 shares in the company, valued at $171,865,340.85. The trade was a 1.78 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.76% of the company’s stock.

Wall Street Analyst Weigh In

Separately, TD Cowen initiated coverage on Compass Diversified in a research note on Wednesday. They set a “buy” rating and a $34.00 price target on the stock.

Compass Diversified Price Performance

Shares of CODI opened at $23.70 on Friday. The firm has a market capitalization of $1.79 billion, a PE ratio of 49.38, a price-to-earnings-growth ratio of 1.52 and a beta of 1.67. The company has a debt-to-equity ratio of 1.51, a current ratio of 4.22 and a quick ratio of 1.62. The company’s fifty day moving average price is $21.99 and its 200-day moving average price is $21.96. Compass Diversified has a 1-year low of $19.76 and a 1-year high of $25.07.

Compass Diversified (NYSE:CODI) last announced its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.10. Compass Diversified had a return on equity of 12.25% and a net margin of 6.24%. The business had revenue of $582.62 million for the quarter, compared to analyst estimates of $571.68 million. During the same period in the prior year, the company earned $0.34 earnings per share. The company’s revenue was up 11.8% on a year-over-year basis. On average, equities research analysts predict that Compass Diversified will post 1.95 EPS for the current year.

Compass Diversified Announces Dividend

The firm also recently disclosed 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. This represents a $1.00 annualized dividend and a yield of 4.22%. The ex-dividend date of this dividend was Thursday, October 17th. 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.