Lapides Asset Management LLC Cuts Holdings in Compass Minerals International, Inc. (NYSE:CMP)

Lapides Asset Management LLC reduced its stake in shares of Compass Minerals International, Inc. (NYSE:CMP) by 4.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 117,200 shares of the basic materials company’s stock after selling 5,000 shares during the quarter. Compass Minerals International comprises about 3.3% of Lapides Asset Management LLC’s investment portfolio, making the stock its 10th largest holding. Lapides Asset Management LLC owned 0.35% of Compass Minerals International worth $5,713,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Van ECK Associates Corp raised its position in Compass Minerals International by 10.8% in the first quarter. Van ECK Associates Corp now owns 1,607,998 shares of the basic materials company’s stock worth $61,860,000 after acquiring an additional 156,503 shares in the last quarter. Bank of New York Mellon Corp raised its position in Compass Minerals International by 7.7% in the first quarter. Bank of New York Mellon Corp now owns 912,271 shares of the basic materials company’s stock worth $35,094,000 after acquiring an additional 65,357 shares in the last quarter. Schroder Investment Management Group raised its position in Compass Minerals International by 564.4% in the first quarter. Schroder Investment Management Group now owns 883,199 shares of the basic materials company’s stock worth $35,814,000 after acquiring an additional 750,264 shares in the last quarter. Wells Fargo & Company MN raised its position in Compass Minerals International by 8.2% in the first quarter. Wells Fargo & Company MN now owns 614,947 shares of the basic materials company’s stock worth $23,657,000 after acquiring an additional 46,643 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in Compass Minerals International by 3.2% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 533,310 shares of the basic materials company’s stock worth $20,516,000 after buying an additional 16,682 shares during the period. Institutional investors and hedge funds own 93.55% of the company’s stock.

CMP has been the topic of several recent analyst reports. JPMorgan Chase & Co. downgraded Compass Minerals International from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $70.00 to $45.00 in a report on Thursday, May 7th. TheStreet upgraded Compass Minerals International from a “c” rating to a “b-” rating in a report on Tuesday, June 23rd. Zacks Investment Research upgraded Compass Minerals International from a “sell” rating to a “hold” rating in a report on Wednesday, July 1st. Finally, Deutsche Bank boosted their price objective on Compass Minerals International from $43.00 to $46.00 and gave the stock a “hold” rating in a report on Friday, May 15th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $59.00.

NYSE:CMP traded down $0.47 on Friday, hitting $50.94. 232,797 shares of the company’s stock traded hands, compared to its average volume of 205,592. The company has a current ratio of 2.41, a quick ratio of 1.43 and a debt-to-equity ratio of 3.47. Compass Minerals International, Inc. has a 1 year low of $34.39 and a 1 year high of $66.14. The firm has a 50-day moving average price of $49.94 and a 200-day moving average price of $50.13. The company has a market cap of $1.73 billion, a PE ratio of 21.40 and a beta of 1.59.

Compass Minerals International (NYSE:CMP) last released its earnings results on Tuesday, May 5th. The basic materials company reported $0.80 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.24. The company had revenue of $413.90 million for the quarter, compared to analysts’ expectations of $423.62 million. Compass Minerals International had a return on equity of 18.42% and a net margin of 5.50%. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.22 EPS. On average, research analysts forecast that Compass Minerals International, Inc. will post 2.93 EPS for the current fiscal year.

Compass Minerals International 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 through 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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Institutional Ownership by Quarter for Compass Minerals International (NYSE:CMP)

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