CompX International Inc. manufactures security products and recreational marine components through its Security Products and Marine Components segments. Company news centers on quarterly results, segment sales trends, gross margin changes, and demand across markets such as healthcare, government security, industrial, towboat, and recreational marine applications.
Updates also cover regular and special dividends on CompX Class A common stock. The company’s product references include mechanical and electrical cabinet locks and other locking mechanisms, as well as stainless steel exhaust systems, gauges, throttle controls, and trim tabs for marine and related industrial uses.
CI Financial Corp. (CIX, CIXX) reported a preliminary total of $231.5 billion in assets as of December 31, 2020, marking a 27.1% increase year-over-year. Wealth management assets reached $96.6 billion, growing by 91.3% year-over-year. The company completed the acquisition of four U.S. wealth management firms, adding $12.3 billion in assets and boosting U.S. wealth management to $29 billion. Additionally, CI successfully issued US$700 million in bonds and reported a 1.5% increase in assets under management for December.
CI Financial Corp. has successfully completed the acquisition of four U.S. registered investment advisory firms, increasing its U.S. wealth management assets by approximately US$9.4 billion to a total of US$22 billion. The acquired firms include RGT Wealth Advisors, The Roosevelt Investment Group, Doyle Wealth Management, and Stavis & Cohen Financial, all finalizing on December 31, 2020. This acquisition strategy has positioned CI as one of the fastest-growing RIA platforms, expanding its total assets under management to approximately C$228 billion (US$175 billion).
CI Financial Corp. (CIX, CIXX) announced plans to redeem all outstanding 2.775% debentures worth $200 million, maturing on November 25, 2021, on or about January 18, 2021. The redemption price will either be the Canada Yield Price or par, plus accrued interest. CEO Kurt MacAlpine highlighted that this move is aimed at reducing leverage and saving on interest expenses. CI manages approximately $216 billion in client assets as of November 30, 2020, emphasizing its position in global asset and wealth management.
CI Global Asset Management (CI GAM) announced that its funds, holding approximately 14.11% of Great Canadian Gaming Corporation's shares, will vote against the proposed arrangement plan with Apollo Global Management. CI GAM currently manages 7,897,552 common shares of the Corporation. No further comments on the Plan will be provided at this time.
CompX International announced a regular quarterly dividend of $0.10 per share on its class A common stock, set for payment on December 8, 2020. Stockholders of record will be identified as of the close of business on December 1, 2020. Based in Dallas, CompX is recognized for manufacturing security products and recreational marine components.
CompX International reported sales of $28.4 million for Q3 2020, down from $29.7 million in Q3 2019. Operating income fell to $2.1 million from $4.3 million year-over-year. Net income was $1.8 million, or $0.15 per diluted share, compared to $3.9 million, or $0.31 per diluted share in Q3 2019. For the nine months ending September 30, 2020, sales dropped to $84.5 million, down from $94.6 million in 2019. The COVID-19 pandemic has adversely affected operations and customer demand.
CompX International has declared a quarterly dividend of $0.10 per share on its class A common stock. This dividend will be payable on September 8, 2020, to stockholders of record at the close of business on September 1, 2020. CompX is recognized for its manufacturing of security products and recreational marine components.
CompX International reported Q2 2020 sales of $23.8 million, down from $33.7 million in Q2 2019. Operating income decreased to $2.4 million from $5.6 million year-over-year. Net income also fell to $2.1 million ($0.17 per diluted share) compared to $4.9 million ($0.39 per diluted share) in the same quarter last year. For the first half of 2020, sales totaled $56.1 million, a decline from $64.9 million in 2019. The COVID-19 pandemic has significantly affected operations, creating uncertainty in future demand and supply chain disruptions.
CompX International (CIX) has declared a quarterly dividend of $0.10 per share, payable on June 16, 2020, to stockholders of record by the close of business on June 9, 2020. During the annual stockholder meeting held on May 27, 2020, stockholders elected directors for a one-year term and approved executive compensation on a nonbinding advisory basis. CompX specializes in manufacturing security products and recreational marine components, continuing its commitment to shareholder returns and effective governance.
CompX International announced a sales increase to $32.3 million in Q1 2020, up from $31.2 million in Q1 2019. Operating income rose to $5.0 million, compared to $4.3 million the previous year. Net income also increased to $4.3 million or $0.34 per share, up from $4.0 million or $0.32 per share in 2019. The growth was driven by higher sales in Security Products and Marine Components. However, the company cautioned that COVID-19 may adversely affect future sales and earnings.