72,714 Shares of Compass Minerals International, Inc. $CMP Purchased by SummerHaven Investment Management LLC

Key Points

• SummerHaven Investment Management acquired 72,714 shares of Compass Minerals, valued at approximately $1.6 million, giving it a 0.17% stake. Institutional investors collectively own 99.78% of the company.
• Analyst sentiment remains cautious: Compass Minerals has a consensus rating of “Reduce” and a $27.00 price target, with recent target cuts from Deutsche Bank and JPMorgan Chase.
• The company’s latest quarter showed revenue of $215.3 million, slightly above expectations, but adjusted earnings missed estimates with a loss of $0.14 per share versus the anticipated $0.06 loss.

SummerHaven Investment Management LLC acquired a new stake in Compass Minerals International, Inc. (NYSE:CMP - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 72,714 shares of the basic materials company's stock, valued at approximately $1,603,000. Compass Minerals International accounts for about 1.1% of SummerHaven Investment Management LLC's investment portfolio, making the stock its 14th biggest holding. SummerHaven Investment Management LLC owned 0.17% of Compass Minerals International at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in CMP. Irenic Capital Management LP acquired a new position in shares of Compass Minerals International during the 1st quarter worth about $33,520,000. Bank of America Corp DE increased its holdings in shares of Compass Minerals International by 692.8% in the 1st quarter. Bank of America Corp DE now owns 1,253,045 shares of the basic materials company's stock valued at $29,259,000 after acquiring an additional 1,094,987 shares during the last quarter. Engine Capital Management LP increased its holdings in shares of Compass Minerals International by 275.4% in the 1st quarter. Engine Capital Management LP now owns 1,439,065 shares of the basic materials company's stock valued at $33,602,000 after acquiring an additional 1,055,740 shares during the last quarter. Hennessy Advisors Inc. purchased a new position in shares of Compass Minerals International in the 2nd quarter valued at about $10,755,000. Finally, Lee Danner & Bass Inc. raised its position in shares of Compass Minerals International by 94.9% during the 1st quarter. Lee Danner & Bass Inc. now owns 605,750 shares of the basic materials company's stock worth $14,144,000 after acquiring an additional 295,000 shares in the last quarter. Hedge funds and other institutional investors own 99.78% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Wall Street Zen cut Compass Minerals International from a "buy" rating to a "hold" rating in a research note on Sunday, August 2nd. BMO Capital Markets reaffirmed a "market perform" rating on shares of Compass Minerals International in a report on Tuesday, October 6th. Compass Point set a $27.00 price target on Compass Minerals International in a report on Monday, August 10th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Compass Minerals International from $35.00 to $32.00 and set a "buy" rating on the stock in a research note on Monday, August 31st. Finally, JPMorgan Chase & Co. reissued an "underweight" rating and set a $27.00 price objective (down from $30.00) on shares of Compass Minerals International in a report on Monday, August 10th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Reduce" and a consensus price target of $27.00.

Compass Minerals International Price Performance

Shares of CMP opened at $22.28 on Friday. The company has a debt-to-equity ratio of 2.72, a current ratio of 2.01 and a quick ratio of 0.98. Compass Minerals International, Inc. has a 1-year low of $16.40 and a 1-year high of $34.50. The stock has a market cap of $935.44 million, a PE ratio of 51.82 and a beta of 1.25. The firm has a fifty day moving average price of $24.16 and a 200 day moving average price of $27.01.

Compass Minerals International (NYSE:CMP - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The basic materials company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.08). Compass Minerals International had a return on equity of 12.75% and a net margin of 1.42%. The firm had revenue of $215.30 million for the quarter, compared to analysts' expectations of $207.75 million. During the same period in the previous year, the business posted ($0.39) EPS. The business's revenue for the quarter was up .3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Compass Minerals International, Inc. will post 0.93 EPS for the current year.

Compass Minerals International Company Profile

Compass Minerals International, Inc is a producer of essential minerals serving the transportation, agriculture, consumer products and industrial markets. The company's principal businesses are salt and plant nutrition, with operations and customers primarily in North America.

Compass Minerals produces highway deicing salt used by transportation agencies and municipalities to help keep roads clear during winter weather. It also supplies salt for food processing, water treatment, animal feed, chemical manufacturing and other industrial and consumer applications.

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