Compass Minerals International, Inc. (NYSE:CMP) declared a quarterly dividend on Friday, November 9th, Wall Street Journal reports. Shareholders of record on Monday, December 3rd will be paid a dividend of 0.72 per share by the basic materials company on Monday, December 17th. This represents a $2.88 dividend on an annualized basis and a yield of 5.56%. The ex-dividend date is Friday, November 30th.
Compass Minerals International has raised its dividend by an average of 6.3% per year over the last three years and has increased its dividend annually for the last 14 consecutive years. Compass Minerals International has a dividend payout ratio of 101.8% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Compass Minerals International to earn $3.82 per share next year, which means the company should continue to be able to cover its $2.88 annual dividend with an expected future payout ratio of 75.4%.
Shares of NYSE CMP opened at $51.79 on Friday. Compass Minerals International has a one year low of $45.25 and a one year high of $76.65. The company has a current ratio of 2.55, a quick ratio of 1.32 and a debt-to-equity ratio of 2.47. The company has a market cap of $1.82 billion, a price-to-earnings ratio of 18.83 and a beta of 1.05.
Several research analysts have recently issued reports on the stock. Monness Crespi & Hardt cut their target price on shares of Compass Minerals International from $76.00 to $63.00 and set a “buy” rating on the stock in a report on Friday, November 2nd. ValuEngine upgraded shares of Compass Minerals International from a “sell” rating to a “hold” rating in a report on Wednesday, September 19th. Zacks Investment Research upgraded shares of Compass Minerals International from a “sell” rating to a “hold” rating in a report on Friday, October 26th. BMO Capital Markets cut their target price on shares of Compass Minerals International from $70.00 to $65.00 and set a “market perform” rating on the stock in a report on Wednesday, October 24th. Finally, Credit Suisse Group set a $49.00 target price on shares of Compass Minerals International and gave the stock a “sell” rating in a report on Friday, November 2nd. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $65.00.
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Compass Minerals International Company Profile
Compass Minerals International, Inc, produces and sells salt, and specialty plant nutrition and chemical products primarily in the United States, Canada, Brazil, and the United Kingdom. It operates in three segments: Salt, Plant Nutrition North America, and Plant Nutrition South America. The Salt segment offers 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 salt to produce specialty products.
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