Mosaic (NYSE:MOS) Issues Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Mosaic (NYSE:MOS) released its earnings results on Tuesday. The basic materials company reported $1.04 EPS for the quarter, topping the consensus estimate of $1.03 by $0.01, Zacks reports. Mosaic had a return on equity of 4.74% and a net margin of 8.35%.

Mosaic Stock Down 2.7%

Shares of NYSE:MOS traded down $0.75 during mid-day trading on Tuesday, hitting $26.51. 9,681,652 shares of the company traded hands, compared to its average volume of 5,379,892. The stock has a market cap of $8.41 billion, a P/E ratio of 8.99, a P/E/G ratio of 0.94 and a beta of 1.00. The company has a current ratio of 1.14, a quick ratio of 0.44 and a debt-to-equity ratio of 0.26. Mosaic has a 12-month low of $22.36 and a 12-month high of $38.23. The stock has a 50-day moving average price of $32.34 and a two-hundred day moving average price of $33.58.

Mosaic Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Monday, September 8th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.88 annualized dividend and a dividend yield of 3.3%. Mosaic’s payout ratio is presently 29.83%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Advisory Services Network LLC boosted its position in shares of Mosaic by 106.0% during the second quarter. Advisory Services Network LLC now owns 19,437 shares of the basic materials company’s stock valued at $700,000 after buying an additional 10,001 shares during the last quarter. State of Wyoming purchased a new position in Mosaic in the second quarter worth $292,000. Hudson Bay Capital Management LP boosted its position in Mosaic by 136.9% in the second quarter. Hudson Bay Capital Management LP now owns 60,756 shares of the basic materials company’s stock worth $2,216,000 after purchasing an additional 35,106 shares during the last quarter. Geneos Wealth Management Inc. boosted its position in Mosaic by 51.4% in the second quarter. Geneos Wealth Management Inc. now owns 1,447 shares of the basic materials company’s stock worth $53,000 after purchasing an additional 491 shares during the last quarter. Finally, CYBER HORNET ETFs LLC purchased a new position in Mosaic in the second quarter worth $31,000. Hedge funds and other institutional investors own 77.54% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Mizuho set a $34.00 target price on Mosaic in a research note on Monday, October 20th. Scotiabank cut Mosaic from a “sector outperform” rating to a “sector perform” rating and reduced their price objective for the company from $39.00 to $34.00 in a research note on Friday, October 10th. Weiss Ratings reissued a “hold (c)” rating on shares of Mosaic in a research note on Wednesday, October 8th. Wells Fargo & Company reduced their price objective on Mosaic from $34.00 to $32.00 and set an “equal weight” rating for the company in a research note on Thursday, October 16th. Finally, Barclays reduced their price objective on Mosaic from $46.00 to $44.00 and set an “overweight” rating for the company in a research note on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $35.23.

About Mosaic

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.