Compass Minerals International (NYSE:CMP) Sets New 12-Month High – Here’s Why

Compass Minerals International, Inc. (NYSE:CMP)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $23.10 and last traded at $22.6790, with a volume of 979906 shares. The stock had previously closed at $20.85.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on CMP shares. BMO Capital Markets lifted their price target on Compass Minerals International from $20.00 to $25.00 and gave the company a “market perform” rating in a research report on Monday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Compass Minerals International in a research report on Wednesday, October 8th. Wall Street Zen raised shares of Compass Minerals International from a “hold” rating to a “buy” rating in a report on Saturday, December 13th. Compass Point set a $22.00 price objective on shares of Compass Minerals International in a research report on Tuesday, December 16th. Finally, Zacks Research upgraded shares of Compass Minerals International from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 11th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $22.00.

Compass Minerals International Trading Up 8.8%

The stock has a market capitalization of $948.44 million, a P/E ratio of -11.81 and a beta of 1.17. The stock’s fifty day moving average price is $18.63 and its two-hundred day moving average price is $19.29. The company has a current ratio of 2.15, a quick ratio of 0.98 and a debt-to-equity ratio of 3.55.

Compass Minerals International (NYSE:CMP) last issued its earnings results on Monday, December 8th. The basic materials company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.02). Compass Minerals International had a negative return on equity of 8.22% and a negative net margin of 6.42%.The business had revenue of $227.50 million during the quarter, compared to analysts’ expectations of $223.72 million. During the same quarter in the previous year, the business earned ($0.77) EPS. Compass Minerals International’s revenue for the quarter was up 9.0% compared to the same quarter last year. Equities research analysts forecast that Compass Minerals International, Inc. will post -0.53 EPS for the current year.

Hedge Funds Weigh In On Compass Minerals International

Institutional investors and hedge funds have recently bought and sold shares of the stock. Nomura Holdings Inc. lifted its position in Compass Minerals International by 48.5% in the third quarter. Nomura Holdings Inc. now owns 382,093 shares of the basic materials company’s stock valued at $7,336,000 after purchasing an additional 124,874 shares during the last quarter. Millennium Management LLC increased its stake in shares of Compass Minerals International by 379.4% in the third quarter. Millennium Management LLC now owns 522,108 shares of the basic materials company’s stock worth $10,024,000 after buying an additional 413,205 shares during the period. Gotham Asset Management LLC raised its holdings in Compass Minerals International by 22.4% during the 3rd quarter. Gotham Asset Management LLC now owns 54,303 shares of the basic materials company’s stock valued at $1,043,000 after buying an additional 9,944 shares during the last quarter. Algert Global LLC boosted its position in Compass Minerals International by 149.4% during the 3rd quarter. Algert Global LLC now owns 36,590 shares of the basic materials company’s stock valued at $703,000 after buying an additional 21,920 shares during the period. Finally, Man Group plc grew its holdings in Compass Minerals International by 25.8% in the 3rd quarter. Man Group plc now owns 215,934 shares of the basic materials company’s stock worth $4,146,000 after acquiring an additional 44,320 shares during the last quarter. 99.78% of the stock is currently owned by institutional investors.

About Compass Minerals International

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.