Irenic Capital Management LP Has $33.26 Million Stock Position in Compass Minerals International, Inc. $CMP

Irenic Capital Management LP lowered its stake in Compass Minerals International, Inc. (NYSE:CMP) by 25.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,068,378 shares of the basic materials company’s stock after selling 367,151 shares during the period. Compass Minerals International makes up 1.6% of Irenic Capital Management LP’s holdings, making the stock its 17th biggest holding. Irenic Capital Management LP’s holdings in Compass Minerals International were worth $33,259,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Royal Bank of Canada grew its stake in Compass Minerals International by 10.5% during the first quarter. Royal Bank of Canada now owns 49,928 shares of the basic materials company’s stock worth $464,000 after buying an additional 4,740 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Compass Minerals International by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,665 shares of the basic materials company’s stock valued at $192,000 after buying an additional 858 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Compass Minerals International by 16.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 191,626 shares of the basic materials company’s stock worth $3,850,000 after acquiring an additional 26,531 shares during the period. Legal & General Group Plc lifted its holdings in shares of Compass Minerals International by 15.4% during the 2nd quarter. Legal & General Group Plc now owns 39,625 shares of the basic materials company’s stock worth $796,000 after acquiring an additional 5,292 shares during the period. Finally, Prudential Financial Inc. acquired a new stake in shares of Compass Minerals International during the 2nd quarter worth approximately $267,000. Institutional investors and hedge funds own 99.78% of the company’s stock.

Compass Minerals International Stock Up 0.4%

Shares of CMP opened at $25.23 on Friday. The company has a debt-to-equity ratio of 2.72, a quick ratio of 0.98 and a current ratio of 2.01. Compass Minerals International, Inc. has a 52 week low of $16.40 and a 52 week high of $34.50. The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of 58.67 and a beta of 1.22. The stock has a fifty day moving average of $27.89 and a 200-day moving average of $27.06.

Compass Minerals International (NYSE:CMP) last issued its quarterly earnings data on Wednesday, August 5th. The basic materials company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.08). Compass Minerals International had a return on equity of 12.75% and a net margin of 1.42%.The firm had revenue of $215.30 million for the quarter, compared to the consensus estimate of $207.75 million. During the same quarter in the prior year, the firm earned ($0.39) EPS. The company’s revenue was up .3% on a year-over-year basis. As a group, sell-side analysts anticipate that Compass Minerals International, Inc. will post 0.93 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CMP. Compass Point set a $27.00 price objective on shares of Compass Minerals International in a research note on Monday, August 10th. JPMorgan Chase & Co. restated an “underweight” rating and set a $27.00 target price (down from $30.00) on shares of Compass Minerals International in a research note on Monday, August 10th. Wall Street Zen downgraded Compass Minerals International from a “buy” rating to a “hold” rating in a report on Sunday, August 2nd. Weiss Ratings upgraded Compass Minerals International from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, August 28th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on Compass Minerals International from $35.00 to $32.00 and set a “buy” rating for the company in a report on Monday, August 31st. One analyst has rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Reduce” and an average price target of $27.00.

Compass Minerals International Company Profile

Compass Minerals International, Inc is a global producer of essential mineral-based products, primarily known for its salt and plant nutrition portfolios. The company’s deicing salts are used by municipalities and commercial customers across North America to maintain safer roadways in winter months. In addition, its water conditioning salts serve both residential and industrial users, supporting water treatment systems that remove hard minerals to protect plumbing and equipment.

Beyond conventional salt products, Compass Minerals has developed a specialty plant nutrition business focused on sulfate of potash (SOP), a premium fertilizer that provides both potassium and sulfur to crops.