Essex Financial Services Inc. Buys 3,371 Shares of Compass Diversified (NYSE:CODI)

Essex Financial Services Inc. lifted its stake in shares of Compass Diversified (NYSE:CODI) by 0.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,305,545 shares of the financial services provider’s stock after acquiring an additional 3,371 shares during the quarter. Compass Diversified comprises about 2.1% of Essex Financial Services Inc.’s investment portfolio, making the stock its 5th biggest holding. Essex Financial Services Inc. owned 1.73% of Compass Diversified worth $30,132,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. National Bank of Canada FI boosted its stake in Compass Diversified by 11.5% in the 3rd quarter. National Bank of Canada FI now owns 220,338 shares of the financial services provider’s stock worth $4,876,000 after purchasing an additional 22,792 shares during the period. Barclays PLC boosted its stake in Compass Diversified by 296.3% in the 3rd quarter. Barclays PLC now owns 105,774 shares of the financial services provider’s stock worth $2,341,000 after purchasing an additional 79,086 shares during the period. Swedbank AB boosted its stake in Compass Diversified by 46.5% in the 4th quarter. Swedbank AB now owns 218,900 shares of the financial services provider’s stock worth $5,052,000 after purchasing an additional 69,525 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of Compass Diversified during the 3rd quarter valued at $1,058,000. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Compass Diversified by 3.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,257,759 shares of the financial services provider’s stock valued at $94,224,000 after acquiring an additional 140,384 shares in the last quarter. Institutional investors and hedge funds own 72.73% of the company’s stock.

Analyst Upgrades and Downgrades

CODI has been the subject of several research reports. TD Cowen initiated coverage on Compass Diversified in a report on Wednesday, November 27th. They set a “buy” rating and a $34.00 price target for the company. B. Riley upgraded shares of Compass Diversified to a “strong-buy” rating in a research note on Tuesday, January 7th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $29.00.

Compass Diversified Stock Up 1.7 %

NYSE CODI opened at $20.85 on Tuesday. The stock has a market cap of $1.58 billion, a PE ratio of 43.44, a PEG ratio of 1.24 and a beta of 1.64. The company has a debt-to-equity ratio of 1.51, a quick ratio of 1.62 and a current ratio of 4.22. Compass Diversified has a twelve month low of $19.76 and a twelve month high of $25.07. The firm has a 50-day simple moving average of $22.37 and a 200 day simple moving average of $21.96.

Compass Diversified Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 23rd. Shareholders of record on Thursday, January 16th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 4.80%. The ex-dividend date of this dividend was Thursday, January 16th. Compass Diversified’s dividend payout ratio is 208.33%.

About Compass Diversified

Compass Diversified is a private equity firm specializing in add on acquisitions, buyouts, industry consolidation, recapitalization, late stage and middle market investments. It seeks to invest in niche industrial or branded consumer companies, manufacturing, distribution, consumer products, business services sector, healthcare, safety & security, electronic components, food and foodservice.