Mosaic (NYSE:MOS) Price Target Lowered to $31.00 at Scotiabank

Mosaic (NYSE:MOS) had its price objective reduced by Scotiabank from $34.00 to $31.00 in a report released on Monday,Benzinga reports. They currently have a sector outperform rating on the basic materials company’s stock.

A number of other research analysts have also recently issued reports on MOS. Morgan Stanley decreased their target price on Mosaic from $40.00 to $30.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Piper Sandler upped their price objective on Mosaic from $30.00 to $33.00 and gave the company a “neutral” rating in a research note on Monday, January 27th. CIBC started coverage on Mosaic in a research report on Tuesday, December 10th. They issued a “neutral” rating and a $55.00 target price on the stock. JPMorgan Chase & Co. raised Mosaic from a “neutral” rating to an “overweight” rating and upped their target price for the company from $26.00 to $29.00 in a research report on Monday. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $30.00 price target on shares of Mosaic in a research report on Thursday, November 14th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $31.90.

Mosaic Stock Down 2.4 %

Shares of Mosaic stock opened at $23.34 on Monday. The company has a quick ratio of 0.49, a current ratio of 1.19 and a debt-to-equity ratio of 0.27. Mosaic has a 12 month low of $23.05 and a 12 month high of $33.44. The business has a fifty day simple moving average of $26.23 and a 200 day simple moving average of $26.42. The stock has a market cap of $7.41 billion, a PE ratio of 20.66, a price-to-earnings-growth ratio of 1.42 and a beta of 1.34.

Mosaic Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.77%. The ex-dividend date is Thursday, March 6th. This is an increase from Mosaic’s previous quarterly dividend of $0.21. Mosaic’s dividend payout ratio (DPR) is currently 160.00%.

Institutional Investors Weigh In On Mosaic

A number of large investors have recently modified their holdings of the business. Invesco Ltd. boosted its holdings in shares of Mosaic by 29.3% in the 4th quarter. Invesco Ltd. now owns 13,507,131 shares of the basic materials company’s stock valued at $332,005,000 after purchasing an additional 3,058,243 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Mosaic by 24.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 11,041,218 shares of the basic materials company’s stock valued at $271,382,000 after purchasing an additional 2,151,426 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Mosaic by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 8,621,001 shares of the basic materials company’s stock valued at $218,751,000 after purchasing an additional 269,650 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Mosaic by 5.9% in the 4th quarter. Northern Trust Corp now owns 5,171,642 shares of the basic materials company’s stock valued at $127,119,000 after purchasing an additional 287,493 shares in the last quarter. Finally, Two Sigma Advisers LP boosted its holdings in shares of Mosaic by 21.7% in the 4th quarter. Two Sigma Advisers LP now owns 3,990,500 shares of the basic materials company’s stock valued at $98,086,000 after purchasing an additional 711,300 shares in the last quarter. Institutional investors and hedge funds own 77.54% of the company’s stock.

About Mosaic

The Mosaic Company, through its subsidiaries, produces and markets concentrated phosphate and potash crop nutrients in North America and internationally. The company operates through three segments: Phosphates, Potash, and Mosaic Fertilizantes. It owns and operates mines, which produce concentrated phosphate crop nutrients, such as diammonium phosphate, monoammonium phosphate, and ammoniated phosphate products; and phosphate-based animal feed ingredients primarily under the Biofos and Nexfos brand names, as well as produces a double sulfate of potash magnesia product under K-Mag brand name.