The Mosaic Company (NYSE:MOS) Position Lowered by State Board of Administration of Florida Retirement System

State Board of Administration of Florida Retirement System reduced its position in The Mosaic Company (NYSE:MOSGet Rating) by 0.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 394,632 shares of the basic materials company’s stock after selling 2,210 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Mosaic were worth $26,243,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. SJS Investment Consulting Inc. acquired a new stake in shares of Mosaic during the 1st quarter valued at approximately $28,000. FourThought Financial LLC raised its holdings in shares of Mosaic by 5,000.0% during the first quarter. FourThought Financial LLC now owns 510 shares of the basic materials company’s stock worth $34,000 after purchasing an additional 500 shares during the period. JFS Wealth Advisors LLC bought a new position in shares of Mosaic in the 1st quarter worth about $35,000. First Command Bank acquired a new position in shares of Mosaic in the 1st quarter valued at about $36,000. Finally, Private Capital Group LLC grew its position in shares of Mosaic by 44.8% during the 1st quarter. Private Capital Group LLC now owns 608 shares of the basic materials company’s stock valued at $40,000 after buying an additional 188 shares during the last quarter. Institutional investors own 82.54% of the company’s stock.

Insider Activity at Mosaic

In other Mosaic news, Director Denise C. Johnson sold 24,427 shares of the company’s stock in a transaction dated Monday, May 16th. The shares were sold at an average price of $65.00, for a total transaction of $1,587,755.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.57% of the stock is currently owned by corporate insiders.

Mosaic Price Performance

Shares of Mosaic stock opened at $52.22 on Friday. The company’s 50-day moving average price is $50.58 and its two-hundred day moving average price is $55.51. The stock has a market cap of $18.90 billion, a PE ratio of 5.95, a price-to-earnings-growth ratio of 0.56 and a beta of 1.62. The company has a current ratio of 1.30, a quick ratio of 0.57 and a debt-to-equity ratio of 0.28. The Mosaic Company has a 52 week low of $29.14 and a 52 week high of $79.28.

Mosaic (NYSE:MOSGet Rating) last issued its earnings results on Monday, August 1st. The basic materials company reported $3.64 earnings per share for the quarter, missing analysts’ consensus estimates of $3.94 by ($0.30). The business had revenue of $5.37 billion for the quarter, compared to the consensus estimate of $5.62 billion. Mosaic had a return on equity of 30.83% and a net margin of 19.66%. The company’s quarterly revenue was up 91.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.17 earnings per share. As a group, sell-side analysts anticipate that The Mosaic Company will post 13.53 EPS for the current fiscal year.

Mosaic declared that its board has approved a share repurchase program on Monday, August 1st that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the basic materials company to reacquire up to 10.8% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.

Mosaic Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 16th. Stockholders of record on Thursday, June 2nd were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.15%. This is an increase from Mosaic’s previous quarterly dividend of $0.11. The ex-dividend date was Wednesday, June 1st. Mosaic’s dividend payout ratio is currently 6.84%.

Analyst Upgrades and Downgrades

MOS has been the subject of a number of research reports. Citigroup upgraded Mosaic from a “neutral” rating to a “buy” rating and set a $61.00 target price for the company in a research note on Wednesday. Mizuho boosted their price objective on Mosaic from $59.00 to $89.00 in a research report on Friday, April 29th. Piper Sandler upped their price objective on Mosaic from $80.00 to $85.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 31st. Royal Bank of Canada raised their target price on Mosaic from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Thursday, April 21st. Finally, BNP Paribas lowered shares of Mosaic from an “outperform” rating to a “neutral” rating and set a $82.00 price target for the company. in a research report on Wednesday, April 20th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $65.29.

About Mosaic

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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.

Further Reading

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Institutional Ownership by Quarter for Mosaic (NYSE:MOS)

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