Bank of America Corp DE Increases Stock Position in Compass Minerals International, Inc. $CMP

Bank of America Corp DE raised its stake in Compass Minerals International, Inc. (NYSE:CMP - Free Report) by 692.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,253,045 shares of the basic materials company's stock after acquiring an additional 1,094,987 shares during the period. Bank of America Corp DE owned 2.99% of Compass Minerals International worth $29,259,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in CMP. Royal Bank of Canada increased its position in Compass Minerals International by 10.5% during the first quarter. Royal Bank of Canada now owns 49,928 shares of the basic materials company's stock worth $464,000 after buying an additional 4,740 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Compass Minerals International by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,665 shares of the basic materials company's stock valued at $192,000 after buying an additional 858 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Compass Minerals International by 16.1% in the second quarter. JPMorgan Chase & Co. now owns 191,626 shares of the basic materials company's stock valued at $3,850,000 after acquiring an additional 26,531 shares during the period. Legal & General Group Plc grew its position in shares of Compass Minerals International by 15.4% during the second quarter. Legal & General Group Plc now owns 39,625 shares of the basic materials company's stock worth $796,000 after acquiring an additional 5,292 shares during the last quarter. Finally, Prudential Financial Inc. purchased a new position in shares of Compass Minerals International during the second quarter worth approximately $267,000. Hedge funds and other institutional investors own 99.78% of the company's stock.

Wall Street Analysts Forecast Growth

CMP has been the subject of a number of recent research reports. Weiss Ratings cut shares of Compass Minerals International from a "sell (d+)" rating to a "sell (d)" rating in a research note on Thursday. JPMorgan Chase & Co. restated an "underweight" rating and issued a $27.00 price objective (down from $30.00) on shares of Compass Minerals International in a research note on Monday, August 10th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $35.00 target price on shares of Compass Minerals International in a report on Wednesday, May 27th. Zacks Research downgraded shares of Compass Minerals International from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 4th. Finally, Wall Street Zen lowered Compass Minerals International from a "buy" rating to a "hold" rating in a report on Sunday, August 2nd. One analyst has rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, Compass Minerals International has a consensus rating of "Reduce" and a consensus price target of $27.60.

Compass Minerals International Stock Performance

NYSE CMP opened at $26.26 on Monday. The company has a current ratio of 2.01, a quick ratio of 0.98 and a debt-to-equity ratio of 2.72. The business's 50 day moving average is $29.39 and its two-hundred day moving average is $27.00. Compass Minerals International, Inc. has a 12-month low of $16.40 and a 12-month high of $34.50. The stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of 61.07 and a beta of 1.23.

Compass Minerals International (NYSE:CMP - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The basic materials company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.08). Compass Minerals International had a net margin of 1.42% and a return on equity of 12.75%. The business had revenue of $215.30 million during the quarter, compared to analyst estimates of $207.75 million. During the same period in the prior year, the business earned ($0.39) earnings per share. The firm's quarterly revenue was up .3% compared to the same quarter last year. Research analysts expect that Compass Minerals International, Inc. will post 0.92 EPS for the current year.

About Compass Minerals International

Compass Minerals International, Inc is a global producer of essential mineral-based products, primarily known for its salt and plant nutrition portfolios. The company's deicing salts are used by municipalities and commercial customers across North America to maintain safer roadways in winter months. In addition, its water conditioning salts serve both residential and industrial users, supporting water treatment systems that remove hard minerals to protect plumbing and equipment.

Beyond conventional salt products, Compass Minerals has developed a specialty plant nutrition business focused on sulfate of potash (SOP), a premium fertilizer that provides both potassium and sulfur to crops.

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