Buy Compass Minerals International. Ticker CMP
Buy Entry: 42.93 to 47.14
Take Profit Areas:
55.56 to 59.77
60.34 to 64.65
64.97 to 69.61
84.53 to 90.56
105.61 to 113.15
October 29 - Compass Minerals Reports Record Third Quarter
By Kansas City Business Journal
Higher prices for its products and increased sales volume helped Compass Minerals International report the strongest third-quarter financial performance in its history.
In a release Tuesday, the Overland Park-based company (NYSE: CMP) reported earnings of $28.7 million, or 87 cents a share, for the quarter that ended Sept. 30. This is a more than fourfold increase from $6.7 million, or 20 cents a share, last year.
Revenue for the quarter was $237.4 million, up 70 percent from $139.5 million last year.
The company’s stock closed on Wednesday at $52.68, up $10.16, or 24 percent, on volume of 1.6 million shares, according to Yahoo Finance. The stock’s average daily volume the past three months is 879,100 shares.
“Continued strong demand for our products drove robust sales, earnings and cash flow in the third quarter, and we expect our business to remain strong,” CEO Angelo Brisimitzakis said in the release. “Demand for highway deicing salt and sulfate of potash specialty fertilizer has continued to exceed supply. Our strategic investments in additional production capacity at our advantaged facilities will allow us to address supply imbalances while fueling long-term profitable growth.”
Compass Minerals produces minerals, including salt, sulfate of potash specialty fertilizer and magnesium chloride. It provides highway deicing salt to customers in North America and the United Kingdom and specialty fertilizer to growers worldwide. It also produces consumer deicing and water-conditioning products, ingredients used in consumer and commercial foods, and other mineral-based products for consumer, agricultural and industrial applications.
Compass Minerals Company Profile
Compass Minerals International is a leading salt and specialty fertilizer company based in Kansas City. We operate the largest, most productive and some of the longest continually run salt mines in North America and the United Kingdom, with histories that stretch back as far as 1844. The company’s product lines include salt for highway deicing, consumer deicing, water conditioning, consumer and industrial food preparation, agriculture and industrial applications. Our sulfate of potash is used in the production of specialty fertilizers to improve the yield and quality of high-value crops and to improve the durability of turf grasses. Compass Minerals International began trading on the New York Stock Exchange on December 12, 2003 under the ticker CMP.
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