Compass Diversified Holdings Announces Dividend of $0.36 (CODI)
Compass Diversified Holdings (NYSE:CODI) announced a dividend on Thursday, October 6th. Investors of record on Thursday, October 20th will be given a dividend of 0.36 per share on Thursday, October 27th. The ex-dividend date of this dividend is Tuesday, October 18th.
Shares of Compass Diversified Holdings (NYSE:CODI) opened at 17.73 on Thursday. The stock has a market capitalization of $962.72 million, a price-to-earnings ratio of 6.58 and a beta of 1.01. The company has a 50-day moving average of $17.18 and a 200-day moving average of $16.57. Compass Diversified Holdings has a 1-year low of $13.65 and a 1-year high of $17.75.
Compass Diversified Holdings (NYSE:CODI) last issued its earnings results on Wednesday, August 3rd. The company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by $0.02. The business earned $229.39 million during the quarter, compared to analyst estimates of $228.45 million. During the same period in the previous year, the business earned $0.40 earnings per share. The firm’s revenue was up 14.9% on a year-over-year basis. On average, equities research analysts expect that Compass Diversified Holdings will post $1.41 EPS for the current fiscal year.
A number of brokerages have issued reports on CODI. TheStreet raised Compass Diversified Holdings from a “hold” rating to a “buy” rating in a research note on Monday, July 11th. Jefferies Group reaffirmed a “buy” rating on shares of Compass Diversified Holdings in a research note on Friday, August 12th. William Blair reaffirmed an “outperform” rating on shares of Compass Diversified Holdings in a research note on Friday, September 30th. SunTrust Banks Inc. began coverage on Compass Diversified Holdings in a research note on Wednesday, July 20th. They issued a “buy” rating and a $19.00 target price for the company. Finally, Zacks Investment Research downgraded Compass Diversified Holdings from a “buy” rating to a “hold” rating in a research note on Tuesday, July 26th. One research analyst has rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $18.51.
In other news, insider Alan B. Offenberg bought 30,000 shares of the company’s stock in a transaction on Tuesday, August 16th. The stock was bought at an average cost of $17.10 per share, with a total value of $513,000.00. Following the transaction, the insider now directly owns 324,942 shares in the company, valued at approximately $5,556,508.20. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Institutional investors have recently added to or reduced their stakes in the stock. Citadel Advisors LLC purchased a new position in Compass Diversified Holdings during the second quarter valued at $178,000. KCG Holdings Inc. purchased a new position in Compass Diversified Holdings during the second quarter valued at $192,000. Keeley Asset Management Corp purchased a new position in Compass Diversified Holdings during the second quarter valued at $166,000. Citigroup Inc. increased its position in Compass Diversified Holdings by 5.7% in the second quarter. Citigroup Inc. now owns 58,113 shares of the company’s stock valued at $964,000 after buying an additional 3,125 shares in the last quarter. Finally, Advisor Group Inc. purchased a new position in Compass Diversified Holdings during the second quarter valued at $214,000.
About Compass Diversified Holdings
Compass Diversified Holdings (the Trust) and Compass Group Diversified Holdings, LLC, (the Company), acquires and manages a group of small and middle-market businesses. The Company’s segments include The Ergo Baby Carrier, Inc (Ergobaby), Liberty Safe and Security Products, Inc (Liberty Safe or Liberty), Fresh Hemp Foods Ltd.
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