Bank of New York Mellon Corp Makes New $3.28 Million Investment in Compass Minerals International, Inc. $CMP

Key Points

• Bank of New York Mellon initiated a $3.28 million position in Compass Minerals, purchasing 105,468 shares, or approximately 0.25% of the company. Institutional investors and hedge funds collectively own 99.78% of CMP.
• Analyst sentiment remains cautious: Compass Minerals has an average “Reduce” rating and a consensus price target of $27, with recent price-target cuts from JPMorgan and Deutsche Bank.
• The stock opened at $25.23, while the company’s latest quarterly results missed earnings expectations, reporting a loss of $0.14 per share versus the consensus loss estimate of $0.06, despite revenue exceeding forecasts.

Bank of New York Mellon Corp bought a new stake in Compass Minerals International, Inc. (NYSE:CMP - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 105,468 shares of the basic materials company's stock, valued at approximately $3,283,000. Bank of New York Mellon Corp owned approximately 0.25% of Compass Minerals International at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Royal Bank of Canada grew its holdings in shares of Compass Minerals International by 10.5% in the 1st quarter. Royal Bank of Canada now owns 49,928 shares of the basic materials company's stock worth $464,000 after acquiring an additional 4,740 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Compass Minerals International by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,665 shares of the basic materials company's stock worth $192,000 after purchasing an additional 858 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Compass Minerals International by 16.1% during the second quarter. JPMorgan Chase & Co. now owns 191,626 shares of the basic materials company's stock worth $3,850,000 after purchasing an additional 26,531 shares in the last quarter. Legal & General Group Plc boosted its position in 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 purchasing an additional 5,292 shares in the last quarter. Finally, Prudential Financial Inc. acquired a new stake in Compass Minerals International in the second quarter valued at $267,000. 99.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on CMP shares. JPMorgan Chase & Co. restated an "underweight" rating and issued a $27.00 price target (down from $30.00) on shares of Compass Minerals International in a research report on Monday, August 10th. Weiss Ratings raised shares of Compass Minerals International from a "sell (d)" rating to a "sell (d+)" rating in a research note on Friday, August 28th. Deutsche Bank Aktiengesellschaft lowered their price objective 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. Wall Street Zen cut shares of Compass Minerals International from a "buy" rating to a "hold" rating in a research report on Sunday, August 2nd. Finally, Compass Point set a $27.00 price target on shares of Compass Minerals International in a report on Monday, August 10th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, Compass Minerals International currently has an average rating of "Reduce" and a consensus price target of $27.00.

Compass Minerals International Stock Performance

Compass Minerals International stock opened at $25.23 on Monday. Compass Minerals International, Inc. has a fifty-two week low of $16.40 and a fifty-two week high of $34.50. The company has a market capitalization of $1.06 billion, a price-to-earnings ratio of 58.67 and a beta of 1.22. The stock has a fifty day moving average of $27.89 and a two-hundred day moving average of $27.08. The company has a debt-to-equity ratio of 2.72, a quick ratio of 0.98 and a current ratio of 2.01.

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). The company had revenue of $215.30 million during the quarter, compared to analysts' expectations of $207.75 million. Compass Minerals International had a net margin of 1.42% and a return on equity of 12.75%. The firm's revenue was up .3% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.39) earnings per share. On average, analysts anticipate that Compass Minerals International, Inc. will post 0.93 EPS for the current fiscal 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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