Compass Minerals International (NYSE:CMP) Trading Down 6.4% – Here’s Why

Compass Minerals International, Inc. (NYSE:CMP)’s stock price was down 6.4% during trading on Wednesday . The company traded as low as $13.10 and last traded at $13.22. Approximately 183,011 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 807,519 shares. The stock had previously closed at $14.12.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CMP. BMO Capital Markets reaffirmed a “market perform” rating and set a $20.00 price objective on shares of Compass Minerals International in a research report on Wednesday, September 18th. StockNews.com upgraded shares of Compass Minerals International to a “sell” rating in a report on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $31.00.

Compass Minerals International Stock Performance

The company has a market cap of $542.15 million, a price-to-earnings ratio of -3.19 and a beta of 1.17. The company has a debt-to-equity ratio of 2.47, a current ratio of 2.90 and a quick ratio of 0.74. The firm has a fifty day simple moving average of $13.56 and a 200 day simple moving average of $11.90.

Compass Minerals International (NYSE:CMP) last announced its earnings results on Tuesday, September 17th. The basic materials company reported ($1.01) EPS for the quarter, missing the consensus estimate of ($0.67) by ($0.34). Compass Minerals International had a positive return on equity of 4.75% and a negative net margin of 14.81%. The firm had revenue of $202.90 million during the quarter, compared to the consensus estimate of $201.86 million. On average, sell-side analysts expect that Compass Minerals International, Inc. will post 0.04 earnings per share for the current fiscal year.

Institutional Trading of Compass Minerals International

Several hedge funds have recently added to or reduced their stakes in CMP. CarsonAllaria Wealth Management Ltd. boosted its position in shares of Compass Minerals International by 26.2% in the second quarter. CarsonAllaria Wealth Management Ltd. now owns 4,659 shares of the basic materials company’s stock valued at $48,000 after acquiring an additional 966 shares during the period. Bank of New York Mellon Corp grew its position in Compass Minerals International by 10.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 405,238 shares of the basic materials company’s stock worth $4,186,000 after purchasing an additional 39,383 shares during the last quarter. Alpha Omega Wealth Management LLC increased its holdings in shares of Compass Minerals International by 34.4% during the 2nd quarter. Alpha Omega Wealth Management LLC now owns 57,866 shares of the basic materials company’s stock worth $598,000 after purchasing an additional 14,795 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in shares of Compass Minerals International during the second quarter valued at about $45,000. Finally, Summit Securities Group LLC bought a new stake in shares of Compass Minerals International in the second quarter valued at about $94,000. Institutional investors own 99.78% of the company’s stock.

Compass Minerals International Company Profile

Compass Minerals International, Inc, provides essential minerals in the United States, Canada, the United Kingdom, and internationally. It operates through two segments, Salt and Plant Nutrition. The Salt segment produces, markets, and sells sodium chloride and magnesium chloride, including rock salt, mechanically and solar evaporated salt, and brine and flake magnesium chloride products; and purchases potassium chloride and calcium chloride to sell as finished products or to blend with sodium chloride to produce specialty products.