Compass Diversified (NYSE:CODI) Stake Lessened by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC lessened its stake in shares of Compass Diversified (NYSE:CODI) by 4.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,559,280 shares of the financial services provider’s stock after selling 78,323 shares during the quarter. Lord Abbett & CO. LLC owned about 2.06% of Compass Diversified worth $35,988,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new stake in shares of Compass Diversified in the 4th quarter worth $4,250,000. JPMorgan Chase & Co. raised its position in Compass Diversified by 121.2% in the fourth quarter. JPMorgan Chase & Co. now owns 204,628 shares of the financial services provider’s stock worth $4,723,000 after acquiring an additional 112,111 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Compass Diversified by 1.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,338,161 shares of the financial services provider’s stock valued at $98,693,000 after acquiring an additional 80,402 shares during the last quarter. Barclays PLC lifted its holdings in Compass Diversified by 296.3% in the 3rd quarter. Barclays PLC now owns 105,774 shares of the financial services provider’s stock valued at $2,341,000 after acquiring an additional 79,086 shares during the last quarter. Finally, SMH Capital Advisors Inc. bought a new position in shares of Compass Diversified during the 4th quarter valued at about $1,823,000. Institutional investors own 72.73% of the company’s stock.

Analyst Ratings Changes

CODI has been the subject of several recent research reports. B. Riley raised shares of Compass Diversified to a “strong-buy” rating in a research note on Tuesday, January 7th. William Blair reiterated an “outperform” rating on shares of Compass Diversified in a research report on Friday, February 28th.

Compass Diversified Stock Performance

Compass Diversified stock opened at $17.04 on Friday. Compass Diversified has a fifty-two week low of $15.64 and a fifty-two week high of $24.59. The firm’s 50 day simple moving average is $18.65 and its 200-day simple moving average is $20.94. The company has a debt-to-equity ratio of 1.51, a current ratio of 4.22 and a quick ratio of 1.62. The company has a market cap of $1.28 billion, a P/E ratio of 35.50, a price-to-earnings-growth ratio of 1.25 and a beta of 1.55.

Compass Diversified Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Shareholders of record on Thursday, April 17th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 5.87%. The ex-dividend date was Thursday, April 17th. Compass Diversified’s dividend payout ratio (DPR) is currently -78.13%.

Compass Diversified Company Profile

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.