State of Alaska Department of Revenue Acquires 52,075 Shares of The Mosaic Company (NYSE:MOS)

State of Alaska Department of Revenue lifted its position in The Mosaic Company (NYSE:MOSGet Rating) by 99.9% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 104,193 shares of the basic materials company’s stock after acquiring an additional 52,075 shares during the period. State of Alaska Department of Revenue’s holdings in Mosaic were worth $4,921,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Redpoint Investment Management Pty Ltd lifted its stake in shares of Mosaic by 19.5% in the second quarter. Redpoint Investment Management Pty Ltd now owns 11,767 shares of the basic materials company’s stock worth $556,000 after buying an additional 1,917 shares in the last quarter. Centre Asset Management LLC lifted its stake in shares of Mosaic by 33.5% in the second quarter. Centre Asset Management LLC now owns 225,707 shares of the basic materials company’s stock worth $10,660,000 after buying an additional 56,685 shares in the last quarter. Confluence Investment Management LLC lifted its stake in shares of Mosaic by 14.3% in the second quarter. Confluence Investment Management LLC now owns 9,379 shares of the basic materials company’s stock worth $443,000 after buying an additional 1,175 shares in the last quarter. Offit Capital Advisors LLC bought a new position in shares of Mosaic in the first quarter worth approximately $254,000. Finally, J.W. Cole Advisors Inc. lifted its stake in shares of Mosaic by 35.2% in the first quarter. J.W. Cole Advisors Inc. now owns 21,034 shares of the basic materials company’s stock worth $1,399,000 after buying an additional 5,472 shares in the last quarter. Institutional investors own 82.24% of the company’s stock.

Mosaic Stock Down 1.0 %

Shares of MOS stock opened at $54.31 on Wednesday. The Mosaic Company has a 12 month low of $31.85 and a 12 month high of $79.28. The stock has a market cap of $19.66 billion, a P/E ratio of 6.19, a P/E/G ratio of 0.58 and a beta of 1.58. The company has a current ratio of 1.30, a quick ratio of 0.65 and a debt-to-equity ratio of 0.28. The company has a 50 day simple moving average of $53.01 and a two-hundred day simple moving average of $57.79.

Mosaic (NYSE:MOSGet Rating) last announced its earnings results on Monday, August 1st. The basic materials company reported $3.64 EPS for the quarter, missing analysts’ consensus estimates of $3.93 by ($0.29). The business had revenue of $5.37 billion for the quarter, compared to analysts’ expectations of $5.62 billion. Mosaic had a net margin of 19.66% and a return on equity of 30.83%. The firm’s quarterly revenue was up 91.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.17 earnings per share. On average, research analysts expect that The Mosaic Company will post 13.62 earnings per share for the current year.

Mosaic Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were paid a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.10%. Mosaic’s dividend payout ratio (DPR) is presently 6.84%.

Mosaic announced that its Board of Directors has initiated a share buyback 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 repurchase up to 10.8% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Credit Suisse Group assumed coverage on shares of Mosaic in a research note on Thursday, July 14th. They issued an “outperform” rating and a $60.00 target price on the stock. Citigroup upgraded shares of Mosaic from a “neutral” rating to a “buy” rating and set a $61.00 price objective on the stock in a research report on Wednesday, August 3rd. Piper Sandler increased their price objective on shares of Mosaic from $80.00 to $85.00 and gave the company an “overweight” rating in a research report on Tuesday, May 31st. Finally, Barclays lowered their price objective on shares of Mosaic from $59.00 to $52.00 and set an “underweight” rating on the stock in a research report on Wednesday, August 10th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Mosaic has a consensus rating of “Moderate Buy” and a consensus target price of $65.69.

Mosaic Profile

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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.

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Institutional Ownership by Quarter for Mosaic (NYSE:MOS)

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