Compass Minerals International (NYSE:CMP) Trading Down 6.4% – Here’s What Happened

Compass Minerals International, Inc. (NYSE:CMP) shares traded down 6.4% on Wednesday . The company traded as low as $13.10 and last traded at $13.22. 183,011 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 807,519 shares. The stock had previously closed at $14.12.

Analyst Ratings Changes

A number of equities analysts have issued reports on CMP shares. StockNews.com raised Compass Minerals International to a “sell” rating in a research note on Wednesday, September 18th. BMO Capital Markets reissued a “market perform” rating and issued a $20.00 price target on shares of Compass Minerals International in a report on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Compass Minerals International presently has an average rating of “Hold” and a consensus price target of $31.00.

Compass Minerals International Stock Down 1.5 %

The firm has a market capitalization of $542.15 million, a price-to-earnings ratio of -3.19 and a beta of 1.17. The company has a current ratio of 2.90, a quick ratio of 0.74 and a debt-to-equity ratio of 2.47. The stock has a fifty day moving average of $13.56 and a 200-day moving average of $11.90.

Compass Minerals International (NYSE:CMP) last posted its quarterly earnings data on Tuesday, September 17th. The basic materials company reported ($1.01) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.67) by ($0.34). Compass Minerals International had a positive return on equity of 4.75% and a negative net margin of 14.81%. The company had revenue of $202.90 million for the quarter, compared to analyst estimates of $201.86 million. As a group, sell-side analysts expect that Compass Minerals International, Inc. will post 0.04 EPS for the current year.

Hedge Funds Weigh In On Compass Minerals International

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CMP. Denver PWM LLC acquired a new stake in Compass Minerals International during the 2nd quarter worth about $29,000. Signaturefd LLC boosted its holdings in shares of Compass Minerals International by 629.4% during the third quarter. Signaturefd LLC now owns 2,407 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 2,077 shares during the period. Ridgewood Investments LLC purchased a new position in Compass Minerals International during the second quarter valued at approximately $37,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Compass Minerals International during the 2nd quarter valued at $45,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Compass Minerals International during the 2nd quarter valued at $46,000. Institutional investors and hedge funds own 99.78% of the company’s stock.

Compass Minerals International Company Profile

Compass Minerals International, Inc, provides essential minerals in the United States, Canada, the United Kingdom, and internationally. It operates through two segments, Salt and Plant Nutrition. The Salt segment produces, markets, and sells sodium chloride and magnesium chloride, including rock salt, mechanically and solar evaporated salt, and brine and flake magnesium chloride products; and purchases potassium chloride and calcium chloride to sell as finished products or to blend with sodium chloride to produce specialty products.