Bank of America Corp DE Boosts Stake in Compass Diversified (NYSE:CODI)

Bank of America Corp DE increased its stake in shares of Compass Diversified (NYSE:CODI - Free Report) by 14.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,203,606 shares of the financial services provider's stock after purchasing an additional 156,074 shares during the period. Bank of America Corp DE owned 1.59% of Compass Diversified worth $27,779,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Raymond James Financial Inc. acquired a new position in Compass Diversified in the 4th quarter valued at $4,250,000. JPMorgan Chase & Co. raised its holdings in Compass Diversified by 121.2% in 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 last quarter. Allspring Global Investments Holdings LLC grew its stake 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 buying an additional 80,402 shares during the period. Barclays PLC grew its stake 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 buying an additional 79,086 shares during the period. Finally, SMH Capital Advisors Inc. purchased a new stake in shares of Compass Diversified during the 4th quarter valued at $1,823,000. 72.73% of the stock is currently owned by institutional investors and hedge funds.

Compass Diversified Stock Down 0.5%

Compass Diversified stock traded down $0.04 during trading on Tuesday, reaching $7.82. 1,003,107 shares of the company's stock were exchanged, compared to its average volume of 357,689. The company's 50-day moving average is $16.07 and its two-hundred day moving average is $19.96. The company has a debt-to-equity ratio of 1.51, a quick ratio of 1.62 and a current ratio of 4.22. Compass Diversified has a 52-week low of $6.05 and a 52-week high of $24.59. The firm has a market cap of $588.35 million, a price-to-earnings ratio of 16.29, a PEG ratio of 1.25 and a beta of 1.25.

Compass Diversified Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 24th. Shareholders of record on Thursday, April 17th were given a $0.25 dividend. The ex-dividend date was Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a yield of 12.79%. Compass Diversified's payout ratio is currently -78.13%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. William Blair reissued an "outperform" rating on shares of Compass Diversified in a research note on Friday, February 28th. B. Riley cut shares of Compass Diversified from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $30.00 to $18.00 in a research note on Thursday, May 8th.

Compass Diversified Company 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.