Piper Sandler Trims Mosaic (NYSE:MOS) Target Price to $65.00

Mosaic (NYSE:MOSGet Rating) had its price target trimmed by Piper Sandler from $75.00 to $65.00 in a research note issued to investors on Tuesday morning, The Fly reports. They currently have an overweight rating on the basic materials company’s stock.

MOS has been the subject of several other research reports. Citigroup upped their target price on shares of Mosaic to $61.00 in a research report on Tuesday, November 15th. JPMorgan Chase & Co. lowered their price objective on shares of Mosaic from $75.00 to $73.00 and set an overweight rating for the company in a research report on Wednesday, November 9th. Barclays lowered their price objective on shares of Mosaic from $59.00 to $52.00 and set an underweight rating for the company in a research report on Wednesday, August 10th. StockNews.com assumed coverage on shares of Mosaic in a research report on Wednesday, October 12th. They issued a buy rating for the company. Finally, Royal Bank of Canada lowered their price objective on shares of Mosaic from $65.00 to $60.00 and set a sector perform rating for the company in a research report on Thursday, November 10th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Hold and an average price target of $63.06.

Mosaic Stock Performance

Shares of Mosaic stock opened at $50.47 on Tuesday. The firm has a fifty day moving average of $51.25 and a two-hundred day moving average of $52.72. The stock has a market capitalization of $17.18 billion, a price-to-earnings ratio of 4.94, a PEG ratio of 0.57 and a beta of 1.55. Mosaic has a 52 week low of $33.59 and a 52 week high of $79.28. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.61 and a current ratio of 1.34.

Mosaic declared that its board has approved a share buyback program on Monday, August 1st that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the basic materials company to repurchase up to 10.8% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

Mosaic Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, November 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.19%. Mosaic’s dividend payout ratio is 5.87%.

Hedge Funds Weigh In On Mosaic

A number of large investors have recently modified their holdings of the business. Veriti Management LLC boosted its stake in shares of Mosaic by 2.9% during the 3rd quarter. Veriti Management LLC now owns 6,948 shares of the basic materials company’s stock worth $336,000 after buying an additional 193 shares during the last quarter. Nations Financial Group Inc. IA ADV raised its holdings in shares of Mosaic by 1.0% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 19,184 shares of the basic materials company’s stock valued at $927,000 after purchasing an additional 193 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Mosaic by 0.8% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 25,236 shares of the basic materials company’s stock valued at $1,220,000 after purchasing an additional 198 shares during the period. Redwood Investment Management LLC raised its holdings in shares of Mosaic by 0.8% in the 3rd quarter. Redwood Investment Management LLC now owns 26,071 shares of the basic materials company’s stock valued at $1,260,000 after purchasing an additional 205 shares during the period. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in shares of Mosaic by 2.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 10,846 shares of the basic materials company’s stock valued at $512,000 after purchasing an additional 219 shares during the period. 82.24% of the stock is currently owned by institutional investors and hedge funds.

Mosaic Company 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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