Bank of New York Mellon Corp lessened its stake in shares of The Mosaic Company (NYSE:MOS – Get Rating) by 27.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,329,545 shares of the basic materials company’s stock after selling 1,233,305 shares during the quarter. Bank of New York Mellon Corp’s holdings in Mosaic were worth $160,918,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of MOS. Capital International Investors bought a new position in shares of Mosaic during the 1st quarter worth approximately $412,663,000. Wellington Management Group LLP lifted its position in shares of Mosaic by 910.9% during the 1st quarter. Wellington Management Group LLP now owns 4,451,909 shares of the basic materials company’s stock worth $296,052,000 after buying an additional 4,011,530 shares during the period. Neuberger Berman Group LLC raised its position in Mosaic by 37.4% in the 3rd quarter. Neuberger Berman Group LLC now owns 4,949,338 shares of the basic materials company’s stock valued at $239,209,000 after purchasing an additional 1,346,086 shares during the last quarter. Pacer Advisors Inc. raised its position in Mosaic by 7,158.4% in the 3rd quarter. Pacer Advisors Inc. now owns 911,867 shares of the basic materials company’s stock valued at $44,071,000 after purchasing an additional 899,304 shares during the last quarter. Finally, 1832 Asset Management L.P. bought a new position in Mosaic in the 1st quarter valued at $56,666,000. Institutional investors own 85.00% of the company’s stock.
Analysts Set New Price Targets
Several equities analysts have issued reports on the company. Bank of America lifted their price objective on Mosaic from $65.00 to $69.00 in a research report on Monday, February 27th. Credit Suisse Group lifted their price objective on Mosaic from $39.00 to $42.00 and gave the company an “underperform” rating in a research report on Thursday, February 23rd. BNP Paribas downgraded Mosaic from a “neutral” rating to an “underperform” rating and set a $42.00 price objective for the company. in a research report on Friday, January 13th. Wells Fargo & Company began coverage on Mosaic in a research note on Wednesday, January 18th. They set an “equal weight” rating and a $47.00 price target on the stock. Finally, JPMorgan Chase & Co. cut their price target on Mosaic from $75.00 to $60.00 in a research note on Friday, February 24th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Mosaic currently has a consensus rating of “Hold” and an average target price of $55.50.
Mosaic Trading Down 3.3 %
Mosaic (NYSE:MOS – Get Rating) last announced its quarterly earnings results on Thursday, February 23rd. The basic materials company reported $1.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.08 by ($0.34). Mosaic had a return on equity of 33.04% and a net margin of 18.73%. The business had revenue of $4.48 billion during the quarter, compared to the consensus estimate of $4.22 billion. During the same quarter last year, the company earned $1.95 earnings per share. The firm’s revenue was up 16.7% compared to the same quarter last year. On average, equities analysts expect that The Mosaic Company will post 7.55 earnings per share for the current year.
Mosaic Cuts Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Thursday, June 1st will be issued a $0.20 dividend. The ex-dividend date is Wednesday, May 31st. This represents a $0.80 annualized dividend and a dividend yield of 1.86%. Mosaic’s dividend payout ratio (DPR) is currently 8.02%.
The Mosaic Co engages in the production and marketing of concentrated phosphate and potash crop nutrients. The company operates its businesses through its wholly and majority owned subsidiaries. It operates through the following segments: Phosphates, Potash, and Mosaic Fertilizantes. The Phosphates segment owns and operates mines and production facilities in North America which produces concentrated phosphate crop nutrients and phosphate-based animal feed ingredients, and concentrated crop nutrients.
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