Amalgamated Bank lowered its stake in The Mosaic Company (NYSE:MOS – Get Rating) by 4.8% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 122,334 shares of the basic materials company’s stock after selling 6,122 shares during the quarter. Amalgamated Bank’s holdings in Mosaic were worth $8,135,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Private Capital Group LLC lifted its stake in Mosaic by 44.8% in the first quarter. Private Capital Group LLC now owns 608 shares of the basic materials company’s stock worth $40,000 after acquiring an additional 188 shares during the period. Louisiana State Employees Retirement System lifted its stake in Mosaic by 0.9% in the first quarter. Louisiana State Employees Retirement System now owns 23,400 shares of the basic materials company’s stock worth $1,773,000 after acquiring an additional 200 shares during the period. Daiwa Securities Group Inc. lifted its stake in Mosaic by 1.1% in the first quarter. Daiwa Securities Group Inc. now owns 22,805 shares of the basic materials company’s stock worth $1,517,000 after acquiring an additional 254 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in Mosaic by 1.3% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 22,354 shares of the basic materials company’s stock worth $1,487,000 after acquiring an additional 287 shares during the period. Finally, Regent Investment Management LLC lifted its stake in Mosaic by 0.5% in the first quarter. Regent Investment Management LLC now owns 55,220 shares of the basic materials company’s stock worth $3,672,000 after acquiring an additional 300 shares during the period. Institutional investors own 82.24% of the company’s stock.
Mosaic Price Performance
Shares of NYSE:MOS opened at $52.20 on Friday. The Mosaic Company has a 1-year low of $31.47 and a 1-year high of $79.28. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.30 and a quick ratio of 0.65. The business has a fifty day moving average price of $52.62 and a 200-day moving average price of $57.83. The company has a market capitalization of $18.90 billion, a PE ratio of 5.95, a PEG ratio of 0.56 and a beta of 1.58.
Mosaic announced that its board has approved a stock repurchase plan on Monday, August 1st that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the basic materials company to purchase up to 10.8% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its stock is undervalued.
Mosaic Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $0.60 annualized dividend and a dividend yield of 1.15%. Mosaic’s dividend payout ratio (DPR) is presently 6.84%.
Analysts Set New Price Targets
A number of analysts recently commented on the company. Citigroup raised Mosaic from a “neutral” rating to a “buy” rating and set a $61.00 price target for the company in a research note on Wednesday, August 3rd. Piper Sandler raised their price target on Mosaic from $80.00 to $85.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 31st. Barclays decreased their price objective on Mosaic from $59.00 to $52.00 and set an “underweight” rating for the company in a report on Wednesday, August 10th. Finally, Credit Suisse Group assumed coverage on Mosaic in a report on Thursday, July 14th. They issued an “outperform” rating and a $60.00 price objective for the company. One research analyst has rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Mosaic currently has an average rating of “Moderate Buy” and an average price target of $65.69.
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.
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