Wellington Shields Capital Management LLC Cuts Stock Position in Compass Diversified (NYSE:CODI)

Wellington Shields Capital Management LLC lessened its stake in shares of Compass Diversified (NYSE:CODI) by 58.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,220 shares of the financial services provider’s stock after selling 7,360 shares during the quarter. Wellington Shields Capital Management LLC’s holdings in Compass Diversified were worth $126,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. International Assets Investment Management LLC acquired a new stake in Compass Diversified in the fourth quarter valued at $1,018,000. Kornitzer Capital Management Inc. KS lifted its holdings in Compass Diversified by 32.0% in the fourth quarter. Kornitzer Capital Management Inc. KS now owns 185,700 shares of the financial services provider’s stock valued at $4,169,000 after acquiring an additional 45,000 shares during the period. Mather Group LLC. acquired a new position in shares of Compass Diversified during the 1st quarter worth $30,000. Van ECK Associates Corp raised its stake in shares of Compass Diversified by 24.5% during the 4th quarter. Van ECK Associates Corp now owns 5,118 shares of the financial services provider’s stock worth $115,000 after buying an additional 1,008 shares during the last quarter. Finally, UBS Group AG raised its stake in shares of Compass Diversified by 11.1% during the 4th quarter. UBS Group AG now owns 708,786 shares of the financial services provider’s stock worth $15,912,000 after buying an additional 71,075 shares during the last quarter. Hedge funds and other institutional investors own 72.73% of the company’s stock.

Compass Diversified Price Performance

Shares of NYSE:CODI traded up $0.19 during midday trading on Wednesday, hitting $21.42. 49,780 shares of the stock were exchanged, compared to its average volume of 201,611. The stock has a market cap of $1.61 billion, a P/E ratio of 124.95, a PEG ratio of 1.50 and a beta of 1.68. The company has a current ratio of 4.08, a quick ratio of 1.64 and a debt-to-equity ratio of 1.43. Compass Diversified has a twelve month low of $16.88 and a twelve month high of $25.07. The company has a 50 day moving average price of $22.09 and a 200-day moving average price of $22.59.

Compass Diversified (NYSE:CODI) last posted its quarterly earnings data on Wednesday, May 1st. The financial services provider reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.01). The company had revenue of $524.29 million for the quarter, compared to analysts’ expectations of $540.20 million. Compass Diversified had a return on equity of 11.71% and a net margin of 4.61%. On average, research analysts forecast that Compass Diversified will post 1.89 earnings per share for the current year.

Compass Diversified Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 25th. Investors of record on Thursday, July 18th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 4.67%. The ex-dividend date of this dividend is Thursday, July 18th. Compass Diversified’s dividend payout ratio is presently 588.27%.

Insider Buying and Selling

In related news, insider Larry L. Enterline acquired 8,212 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was purchased at an average price of $22.41 per share, for a total transaction of $184,030.92. Following the transaction, the insider now owns 32,886 shares in the company, valued at approximately $736,975.26. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Compass Diversified news, insider Larry L. Enterline purchased 8,212 shares of the stock in a transaction on Tuesday, May 28th. The stock was bought at an average price of $22.41 per share, for a total transaction of $184,030.92. Following the acquisition, the insider now directly owns 32,886 shares of the company’s stock, valued at $736,975.26. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Ryan J. Faulkingham purchased 5,000 shares of the stock in a transaction on Thursday, June 13th. The stock was acquired at an average price of $22.44 per share, with a total value of $112,200.00. Following the acquisition, the insider now directly owns 33,950 shares in the company, valued at $761,838. The disclosure for this purchase can be found here. 1.76% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Separately, William Blair reaffirmed an “outperform” rating on shares of Compass Diversified in a research note on Thursday, May 2nd.

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.