Charles Schwab Investment Management Inc. Sells 118,036 Shares of Compass Diversified (NYSE:CODI)

Charles Schwab Investment Management Inc. lessened its holdings in Compass Diversified (NYSE:CODI) by 23.0% during the third quarter, HoldingsChannel.com reports. The fund owned 394,747 shares of the financial services provider’s stock after selling 118,036 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Compass Diversified were worth $8,736,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Bank of New York Mellon Corp boosted its stake in shares of Compass Diversified by 14.0% during the second 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. boosted its stake in shares of Compass Diversified by 9.2% during the second 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 in the last quarter. Essex Financial Services Inc. boosted its stake in shares of Compass Diversified by 20.2% during the third 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 in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Compass Diversified during the third quarter valued at about $1,058,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Compass Diversified by 3.4% during the third 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 in the last quarter. Institutional investors own 72.73% of the company’s stock.

Analysts Set New Price Targets

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

Insider Buying and Selling at Compass Diversified

In other Compass Diversified news, insider Patrick A. Maciariello purchased 5,000 shares of the company’s stock in a transaction on Friday, September 20th. The shares were purchased at an average cost of $21.87 per share, with a total value of $109,350.00. Following the completion of the purchase, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Cgi Magyar Holdings Llc sold 135,274 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $23.05, for a total value of $3,118,065.70. Following the sale, the insider now owns 7,456,197 shares of the company’s stock, valued at approximately $171,865,340.85. This represents 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.

Compass Diversified Price Performance

Compass Diversified stock opened at $23.92 on Wednesday. The stock’s 50 day moving average is $22.18 and its 200 day moving average is $22.01. 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 firm has a market cap of $1.81 billion, a P/E ratio of 49.90, a P/E/G ratio of 1.48 and a beta of 1.66. Compass Diversified has a one year low of $19.76 and a one year high of $25.07.

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

Compass Diversified Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Thursday, October 17th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 4.18%. The ex-dividend date of this dividend was Thursday, October 17th. Compass Diversified’s dividend payout ratio (DPR) is presently 208.33%.

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.