Rhumbline Advisers Increases Stock Position in The Mosaic Company (NYSE:MOS)

Rhumbline Advisers lifted its holdings in shares of The Mosaic Company (NYSE:MOSGet Rating) by 21.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 704,637 shares of the basic materials company’s stock after buying an additional 126,513 shares during the quarter. Rhumbline Advisers owned about 0.19% of Mosaic worth $33,280,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of MOS. Northwestern Mutual Wealth Management Co. lifted its stake in 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 worth $512,000 after purchasing an additional 219 shares in the last quarter. Strengthening Families & Communities LLC lifted its stake in Mosaic by 2.4% in the 2nd quarter. Strengthening Families & Communities LLC now owns 10,437 shares of the basic materials company’s stock worth $690,000 after purchasing an additional 244 shares in the last quarter. Fifth Third Bancorp lifted its stake in Mosaic by 2.2% in the 2nd quarter. Fifth Third Bancorp now owns 12,576 shares of the basic materials company’s stock worth $594,000 after purchasing an additional 268 shares in the last quarter. Fruth Investment Management lifted its stake in Mosaic by 1.8% in the 2nd quarter. Fruth Investment Management now owns 17,200 shares of the basic materials company’s stock worth $1,126,000 after purchasing an additional 300 shares in the last quarter. Finally, First Command Bank lifted its stake in Mosaic by 60.1% in the 2nd quarter. First Command Bank now owns 866 shares of the basic materials company’s stock worth $41,000 after purchasing an additional 325 shares in the last quarter. 82.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on MOS shares. Piper Sandler lowered their target price on shares of Mosaic from $75.00 to $65.00 and set an “overweight” rating on the stock in a research note on Tuesday. JPMorgan Chase & Co. lowered their price objective on shares of Mosaic from $75.00 to $73.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 9th. Mizuho lowered their price objective on shares of Mosaic from $74.00 to $69.00 and set a “buy” rating on the stock in a research report on Wednesday, November 9th. Royal Bank of Canada lowered their price objective on shares of Mosaic from $65.00 to $60.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 10th. Finally, StockNews.com assumed coverage on shares of Mosaic in a research report on Wednesday, October 12th. They set a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $63.06.

Mosaic Price Performance

MOS stock opened at $50.60 on Thursday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.61 and a current ratio of 1.34. The Mosaic Company has a 52 week low of $33.59 and a 52 week high of $79.28. The firm’s fifty day moving average is $51.18 and its 200 day moving average is $52.71. The firm has a market cap of $17.23 billion, a P/E ratio of 4.95, a P/E/G ratio of 0.59 and a beta of 1.55.

Mosaic Dividend Announcement

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

Mosaic declared that its board has approved a stock buyback 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 reacquire up to 10.8% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its shares are undervalued.

About Mosaic

(Get Rating)

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.

Further Reading

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Institutional Ownership by Quarter for Mosaic (NYSE:MOS)

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