Invenomic Capital Management LP Boosts Stake in Compass Minerals International, Inc. (NYSE:CMP)

Invenomic Capital Management LP raised its holdings in shares of Compass Minerals International, Inc. (NYSE:CMP) by 23.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 969,085 shares of the basic materials company’s stock after buying an additional 186,717 shares during the quarter. Invenomic Capital Management LP owned about 2.34% of Compass Minerals International worth $11,648,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CMP. Denver PWM LLC purchased a new position in shares of Compass Minerals International in the 2nd quarter worth about $29,000. Signaturefd LLC boosted its holdings in Compass Minerals International by 629.4% during the 3rd quarter. Signaturefd LLC now owns 2,407 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 2,077 shares during the period. Ridgewood Investments LLC purchased a new stake in Compass Minerals International during the 2nd quarter valued at about $37,000. Allspring Global Investments Holdings LLC purchased a new stake in Compass Minerals International during the 2nd quarter valued at about $45,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Compass Minerals International during the 2nd quarter valued at approximately $46,000. 99.78% of the stock is currently owned by hedge funds and other institutional investors.

Compass Minerals International Price Performance

Shares of Compass Minerals International stock opened at $15.01 on Tuesday. Compass Minerals International, Inc. has a one year low of $7.51 and a one year high of $27.25. The stock’s fifty day moving average is $13.23 and its 200 day moving average is $11.83. The company has a quick ratio of 0.74, a current ratio of 2.90 and a debt-to-equity ratio of 2.47.

Compass Minerals International (NYSE:CMP) last announced its earnings results on Tuesday, September 17th. The basic materials company reported ($1.01) EPS for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.34). Compass Minerals International had a positive return on equity of 4.75% and a negative net margin of 14.81%. The company had revenue of $202.90 million during the quarter, compared to the consensus estimate of $201.86 million. On average, equities research analysts forecast that Compass Minerals International, Inc. will post 0.04 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on CMP shares. BMO Capital Markets reaffirmed a “market perform” rating and set a $20.00 price target on shares of Compass Minerals International in a research report on Wednesday, September 18th. StockNews.com raised Compass Minerals International to a “sell” rating in a research report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $31.00.

Compass Minerals International Profile

Compass Minerals International, Inc, provides essential minerals in the United States, Canada, the United Kingdom, and internationally. It operates through two segments, Salt and Plant Nutrition. The Salt segment produces, markets, and sells 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 sodium chloride to produce specialty products.