Compass Diversified Holdings (CODI) Plans Quarterly Dividend of $0.36
Compass Diversified Holdings (NYSE:CODI) declared a quarterly dividend on Friday, October 6th, Wall Street Journal reports. Shareholders of record on Thursday, October 19th will be given a dividend of 0.36 per share by the financial services provider on Thursday, October 26th. This represents a $1.44 annualized dividend and a dividend yield of 7.93%. The ex-dividend date is Wednesday, October 18th.
Compass Diversified Holdings has a payout ratio of 88.9% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Research analysts expect Compass Diversified Holdings to earn $1.73 per share next year, which means the company should continue to be able to cover its $1.44 annual dividend with an expected future payout ratio of 83.2%.
Compass Diversified Holdings (NYSE:CODI) traded up 0.55% during trading on Friday, hitting $18.15. 82,543 shares of the company’s stock traded hands. The company’s 50 day moving average is $17.23 and its 200-day moving average is $16.95. Compass Diversified Holdings has a 12 month low of $15.90 and a 12 month high of $19.50. The stock’s market cap is $1.09 billion.
Compass Diversified Holdings (NYSE:CODI) last posted its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported ($0.53) EPS for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.90). Compass Diversified Holdings had a net margin of 2.20% and a return on equity of 6.42%. The firm had revenue of $307.38 million for the quarter, compared to analysts’ expectations of $302.86 million. During the same quarter in the previous year, the company earned $0.33 EPS. The company’s quarterly revenue was up 43.5% compared to the same quarter last year. On average, analysts predict that Compass Diversified Holdings will post $1.60 earnings per share for the current year.
An institutional investor recently raised its position in Compass Diversified Holdings stock. State Street Corp increased its position in shares of Compass Diversified Holdings (NYSE:CODI) by 0.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 66,276 shares of the financial services provider’s stock after purchasing an additional 276 shares during the period. State Street Corp owned 0.11% of Compass Diversified Holdings worth $1,157,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 33.17% of the company’s stock.
Several research analysts have weighed in on CODI shares. Zacks Investment Research downgraded shares of Compass Diversified Holdings from a “hold” rating to a “strong sell” rating in a research report on Tuesday. BidaskClub upgraded shares of Compass Diversified Holdings from a “sell” rating to a “hold” rating in a research report on Tuesday. ValuEngine downgraded shares of Compass Diversified Holdings from a “hold” rating to a “sell” rating in a research report on Friday, August 4th. Jefferies Group LLC restated a “buy” rating and set a $20.00 price objective on shares of Compass Diversified Holdings in a research report on Friday, July 14th. Finally, TheStreet upgraded shares of Compass Diversified Holdings from a “c+” rating to a “b” rating in a research report on Friday, July 7th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company’s stock. Compass Diversified Holdings currently has an average rating of “Hold” and an average price target of $19.50.
Compass Diversified Holdings Company Profile
Compass Diversified Holdings (the Trust) and Compass Group Diversified Holdings, LLC, (the Company), acquires and manages small and middle-market businesses. The Company operates through segments include Acquisition Corp. (5.11 Tactical), The Ergo Baby Carrier, Inc (Ergobaby), Liberty Safe and Security Products, Inc (Liberty), Fresh Hemp Foods Ltd.
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