Clearline Capital LP Reduces Stake in Compass Minerals International, Inc. (NYSE:CMP)

Clearline Capital LP cut its holdings in shares of Compass Minerals International, Inc. (NYSE:CMP) by 50.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 31,819 shares of the basic materials company’s stock after selling 32,610 shares during the quarter. Clearline Capital LP’s holdings in Compass Minerals International were worth $382,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Denver PWM LLC acquired a new stake in shares of Compass Minerals International in the second quarter worth $29,000. Signaturefd LLC increased its stake in shares of Compass Minerals International by 629.4% in the 3rd quarter. Signaturefd LLC now owns 2,407 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 2,077 shares in the last quarter. Ridgewood Investments LLC purchased a new position in shares of Compass Minerals International in the 2nd quarter valued at about $37,000. Allspring Global Investments Holdings LLC acquired a new position in Compass Minerals International in the 2nd quarter worth about $45,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Compass Minerals International during the second quarter worth approximately $46,000. 99.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CMP has been the subject of a number of recent analyst reports. StockNews.com upgraded Compass Minerals International to a “sell” rating in a research report on Wednesday, September 18th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $20.00 price target on shares of Compass Minerals International in a research note on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $31.00.

Compass Minerals International Trading Down 1.7 %

Shares of CMP stock opened at $15.43 on Monday. The company has a current ratio of 2.90, a quick ratio of 0.74 and a debt-to-equity ratio of 2.47. The stock has a market cap of $639.56 million, a price-to-earnings ratio of -3.76 and a beta of 1.10. The company’s 50-day moving average price is $13.15 and its 200-day moving average price is $11.82. Compass Minerals International, Inc. has a twelve month low of $7.51 and a twelve month high of $27.25.

Compass Minerals International (NYSE:CMP) last released its quarterly earnings results on Tuesday, September 17th. The basic materials company reported ($1.01) EPS for the quarter, missing the consensus estimate of ($0.67) by ($0.34). Compass Minerals International had a negative net margin of 14.81% and a positive return on equity of 4.75%. The firm had revenue of $202.90 million for the quarter, compared to analysts’ expectations of $201.86 million. As a group, equities analysts predict that Compass Minerals International, Inc. will post 0.04 earnings per share for the current year.

About Compass Minerals International

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.