Mosaic (NYSE:MOS) Given New $33.00 Price Target at Piper Sandler

Mosaic (NYSE:MOS) had its price objective raised by Piper Sandler from $30.00 to $33.00 in a report issued on Monday morning,Benzinga reports. Piper Sandler currently has a neutral rating on the basic materials company’s stock.

A number of other analysts have also issued reports on MOS. Morgan Stanley dropped their price target on shares of Mosaic from $40.00 to $30.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Barclays lowered shares of Mosaic from an “overweight” rating to an “underweight” rating and lowered their price target for the stock from $30.00 to $27.00 in a research report on Tuesday, January 21st. Mizuho upped their price target on shares of Mosaic from $28.00 to $29.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $30.00 target price on shares of Mosaic in a research report on Thursday, November 14th. Finally, CIBC began coverage on shares of Mosaic in a research report on Tuesday, December 10th. They set a “neutral” rating and a $55.00 price objective for the company. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $35.09.

Mosaic Stock Performance

NYSE:MOS opened at $28.01 on Monday. Mosaic has a twelve month low of $23.56 and a twelve month high of $33.44. The company has a market capitalization of $8.90 billion, a P/E ratio of 24.79, a price-to-earnings-growth ratio of 1.49 and a beta of 1.34. The firm has a 50-day moving average price of $25.78 and a two-hundred day moving average price of $26.72. The company has a current ratio of 1.19, a quick ratio of 0.49 and a debt-to-equity ratio of 0.27.

Mosaic (NYSE:MOS) last released its earnings results on Tuesday, November 12th. The basic materials company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.24). The company had revenue of $2.81 billion during the quarter, compared to analyst estimates of $3.17 billion. Mosaic had a return on equity of 6.00% and a net margin of 3.24%. Mosaic’s revenue was down 20.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.68 earnings per share. As a group, research analysts expect that Mosaic will post 2.05 earnings per share for the current fiscal year.

Mosaic Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 3.14%. The ex-dividend date of this dividend is Thursday, March 6th. This is an increase from Mosaic’s previous quarterly dividend of $0.21. Mosaic’s payout ratio is currently 74.34%.

Hedge Funds Weigh In On Mosaic

Institutional investors have recently added to or reduced their stakes in the company. Brooklyn Investment Group increased its holdings in shares of Mosaic by 110.8% during the fourth quarter. Brooklyn Investment Group now owns 1,117 shares of the basic materials company’s stock worth $27,000 after buying an additional 587 shares in the last quarter. R Squared Ltd acquired a new stake in Mosaic during the 4th quarter valued at $33,000. Heck Capital Advisors LLC bought a new position in Mosaic in the 4th quarter valued at $41,000. Kimelman & Baird LLC bought a new position in Mosaic in the 2nd quarter valued at $49,000. Finally, Blue Trust Inc. boosted its stake in Mosaic by 46.4% in the third quarter. Blue Trust Inc. now owns 1,799 shares of the basic materials company’s stock worth $52,000 after purchasing an additional 570 shares in the last quarter. 77.54% of the stock is owned by institutional investors.

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.