Essex Financial Services Inc. Sells 1,112 Shares of Compass Diversified (NYSE:CODI)

Essex Financial Services Inc. cut its holdings in shares of Compass Diversified (NYSE:CODI) by 0.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 774,143 shares of the financial services provider’s stock after selling 1,112 shares during the quarter. Compass Diversified accounts for about 1.8% of Essex Financial Services Inc.’s investment portfolio, making the stock its 6th largest holding. Essex Financial Services Inc. owned 1.08% of Compass Diversified worth $17,380,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. SG Americas Securities LLC purchased a new position in shares of Compass Diversified during the 3rd quarter valued at $109,000. Commonwealth Equity Services LLC grew its stake in Compass Diversified by 2.9% in the third quarter. Commonwealth Equity Services LLC now owns 47,668 shares of the financial services provider’s stock valued at $895,000 after purchasing an additional 1,322 shares in the last quarter. Raymond James & Associates increased its position in Compass Diversified by 2.7% in the 3rd quarter. Raymond James & Associates now owns 96,504 shares of the financial services provider’s stock worth $1,811,000 after purchasing an additional 2,567 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Compass Diversified by 0.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 206,212 shares of the financial services provider’s stock worth $3,871,000 after purchasing an additional 779 shares in the last quarter. Finally, Brown Advisory Inc. lifted its holdings in shares of Compass Diversified by 4.0% during the 3rd quarter. Brown Advisory Inc. now owns 78,303 shares of the financial services provider’s stock valued at $1,470,000 after buying an additional 3,000 shares during the last quarter. Hedge funds and other institutional investors own 72.73% of the company’s stock.

Compass Diversified Stock Performance

Compass Diversified stock traded up $0.23 on Wednesday, reaching $22.20. 51,305 shares of the stock were exchanged, compared to its average volume of 201,968. The company has a current ratio of 5.13, a quick ratio of 2.76 and a debt-to-equity ratio of 1.37. Compass Diversified has a twelve month low of $16.88 and a twelve month high of $25.07. The firm has a fifty day moving average price of $23.34 and a two-hundred day moving average price of $21.71. The stock has a market cap of $1.67 billion, a PE ratio of 9.60 and a beta of 1.72.

Compass Diversified (NYSE:CODI) last posted its quarterly earnings data on Wednesday, February 28th. The financial services provider reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.09). The business had revenue of $566.99 million for the quarter, compared to analyst estimates of $581.07 million. Compass Diversified had a return on equity of 11.93% and a net margin of 9.43%. Sell-side analysts anticipate that Compass Diversified will post 1.93 EPS for the current year.

Compass Diversified Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 25th. Stockholders of record on Thursday, April 18th were paid a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, April 17th. This represents a $1.00 annualized dividend and a dividend yield of 4.50%. Compass Diversified’s payout ratio is 43.29%.

Insider Buying and Selling

In other Compass Diversified news, major shareholder Cgi Magyar Holdings Llc sold 7,510 shares of the firm’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $24.92, for a total value of $187,149.20. Following the sale, the insider now directly owns 7,991,471 shares in the company, valued at approximately $199,147,457.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.76% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

CODI has been the topic of a number of research reports. Oppenheimer increased their price objective on Compass Diversified from $21.00 to $23.00 and gave the stock a “market perform” rating in a report on Tuesday, March 5th. Bank of America raised their price target on shares of Compass Diversified from $27.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, March 7th. Finally, William Blair restated an “outperform” rating on shares of Compass Diversified in a report on Wednesday, March 6th.

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.