Lord Abbett & CO. LLC Sells 78,323 Shares of Compass Diversified (NYSE:CODI)

Lord Abbett & CO. LLC decreased its holdings in Compass Diversified (NYSE:CODI - Free Report) by 4.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,559,280 shares of the financial services provider's stock after selling 78,323 shares during the quarter. Lord Abbett & CO. LLC owned 2.06% of Compass Diversified worth $35,988,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Raymond James Financial Inc. bought a new position in shares of Compass Diversified in the 4th quarter worth approximately $4,250,000. JPMorgan Chase & Co. grew its position in shares of Compass Diversified by 121.2% during the 4th quarter. JPMorgan Chase & Co. now owns 204,628 shares of the financial services provider's stock valued at $4,723,000 after acquiring an additional 112,111 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of Compass Diversified by 1.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,338,161 shares of the financial services provider's stock valued at $98,693,000 after acquiring an additional 80,402 shares during the period. Barclays PLC grew its position in shares of Compass Diversified by 296.3% during the 3rd quarter. Barclays PLC now owns 105,774 shares of the financial services provider's stock valued at $2,341,000 after acquiring an additional 79,086 shares during the period. Finally, SMH Capital Advisors Inc. bought a new stake in shares of Compass Diversified during the 4th quarter valued at $1,823,000. Hedge funds and other institutional investors own 72.73% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. William Blair reissued an "outperform" rating on shares of Compass Diversified in a research report on Friday, February 28th. B. Riley upgraded shares of Compass Diversified to a "strong-buy" rating in a research note on Tuesday, January 7th.

Compass Diversified Price Performance

Shares of CODI traded down $0.11 during trading hours on Wednesday, reaching $17.22. 185,172 shares of the stock traded hands, compared to its average volume of 231,882. The company has a current ratio of 4.22, a quick ratio of 1.62 and a debt-to-equity ratio of 1.51. Compass Diversified has a 52-week low of $15.64 and a 52-week high of $24.59. The company's 50-day moving average price is $18.51 and its two-hundred day moving average price is $20.89. The company has a market cap of $1.30 billion, a P/E ratio of 35.88, a price-to-earnings-growth ratio of 1.25 and a beta of 1.55.

Compass Diversified Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 17th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.81%. The ex-dividend date of this dividend was Thursday, April 17th. Compass Diversified's dividend payout ratio (DPR) is -78.13%.

Compass Diversified 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.