Compass Minerals International (NYSE:CMP) Trading Down 6.4% – Here’s Why

Shares of Compass Minerals International, Inc. (NYSE:CMP) dropped 6.4% on Wednesday . The company traded as low as $13.10 and last traded at $13.22. Approximately 183,011 shares changed hands during mid-day trading, a decline of 77% from the average daily volume of 807,519 shares. The stock had previously closed at $14.12.

Wall Street Analyst Weigh In

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

Compass Minerals International Stock Down 3.8 %

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 company has a market cap of $563.29 million, a price-to-earnings ratio of -3.20 and a beta of 1.17. The firm’s fifty day simple moving average is $13.50 and its 200 day simple moving average is $11.88.

Compass Minerals International (NYSE:CMP) last posted 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 positive return on equity of 4.75% and a negative net margin of 14.81%. The firm had revenue of $202.90 million for the quarter, compared to analyst estimates of $201.86 million. Sell-side analysts predict that Compass Minerals International, Inc. will post 0.04 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of CMP. Price T Rowe Associates Inc. MD raised its position in Compass Minerals International by 4.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 32,722 shares of the basic materials company’s stock valued at $516,000 after purchasing an additional 1,358 shares during the last quarter. CarsonAllaria Wealth Management Ltd. raised its position in Compass Minerals International by 26.2% during the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 4,659 shares of the basic materials company’s stock worth $48,000 after buying an additional 966 shares during the last quarter. Bank of New York Mellon Corp raised its position in Compass Minerals International by 10.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 405,238 shares of the basic materials company’s stock worth $4,186,000 after buying an additional 39,383 shares during the last quarter. Alpha Omega Wealth Management LLC raised its position in Compass Minerals International by 34.4% during the 2nd quarter. Alpha Omega Wealth Management LLC now owns 57,866 shares of the basic materials company’s stock worth $598,000 after buying an additional 14,795 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new position in Compass Minerals International during the 2nd quarter worth $45,000. Institutional investors and hedge funds own 99.78% of the company’s stock.

Compass Minerals International Company 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.