Compass Diversified (NYSE:CODI) Hits New 12-Month Low – Here’s What Happened

Compass Diversified (NYSE:CODI)’s share price hit a new 52-week low on Friday . The company traded as low as $18.69 and last traded at $18.80, with a volume of 26357 shares trading hands. The stock had previously closed at $19.09.

Analyst Upgrades and Downgrades

Several research firms have commented on CODI. William Blair reiterated an “outperform” rating on shares of Compass Diversified in a research note on Friday, February 28th. B. Riley upgraded Compass Diversified to a “strong-buy” rating in a research report on Tuesday, January 7th.

Compass Diversified Stock Down 1.2 %

The stock has a market capitalization of $1.42 billion, a price-to-earnings ratio of 39.40, a price-to-earnings-growth ratio of 1.25 and a beta of 1.59. 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 business’s 50-day moving average is $20.52 and its two-hundred day moving average is $21.63.

Compass Diversified Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 23rd. Stockholders of record on Thursday, January 16th were given a $0.25 dividend. The ex-dividend date was Thursday, January 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.30%. Compass Diversified’s dividend payout ratio (DPR) is presently 208.33%.

Hedge Funds Weigh In On Compass Diversified

Institutional investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC increased its stake in shares of Compass Diversified by 1.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,338,161 shares of the financial services provider’s stock worth $98,693,000 after acquiring an additional 80,402 shares during the last quarter. William Blair Investment Management LLC increased its position in Compass Diversified by 2.5% during the fourth quarter. William Blair Investment Management LLC now owns 1,866,533 shares of the financial services provider’s stock worth $43,080,000 after purchasing an additional 45,725 shares during the last quarter. Lord Abbett & CO. LLC raised its stake in Compass Diversified by 1.4% during the third quarter. Lord Abbett & CO. LLC now owns 1,637,603 shares of the financial services provider’s stock worth $36,240,000 after purchasing an additional 23,104 shares during the period. Essex Financial Services Inc. boosted its holdings in Compass Diversified by 0.3% in the 4th quarter. Essex Financial Services Inc. now owns 1,305,545 shares of the financial services provider’s stock valued at $30,132,000 after purchasing an additional 3,371 shares during the last quarter. Finally, Bank of America Corp DE grew its stake in shares of Compass Diversified by 14.9% in the 4th quarter. Bank of America Corp DE now owns 1,203,606 shares of the financial services provider’s stock valued at $27,779,000 after buying an additional 156,074 shares during the period. Hedge funds and other institutional investors own 72.73% of the company’s stock.

Compass Diversified Company 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.