SouthState Corp Reduces Holdings in The Mosaic Company (NYSE:MOS)

SouthState Corp lowered its stake in shares of The Mosaic Company (NYSE:MOS) by 31.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 53,455 shares of the basic materials company’s stock after selling 23,992 shares during the quarter. SouthState Corp’s holdings in Mosaic were worth $1,910,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Denali Advisors LLC lifted its position in Mosaic by 100.5% during the 4th quarter. Denali Advisors LLC now owns 826 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 414 shares during the period. Janiczek Wealth Management LLC lifted its holdings in shares of Mosaic by 28.0% during the fourth quarter. Janiczek Wealth Management LLC now owns 1,455 shares of the basic materials company’s stock valued at $52,000 after purchasing an additional 318 shares during the last quarter. Exchange Traded Concepts LLC boosted its position in shares of Mosaic by 526.1% in the 3rd quarter. Exchange Traded Concepts LLC now owns 1,534 shares of the basic materials company’s stock worth $55,000 after purchasing an additional 1,289 shares in the last quarter. NBC Securities Inc. purchased a new stake in shares of Mosaic in the 3rd quarter worth approximately $57,000. Finally, Planned Solutions Inc. bought a new position in Mosaic during the 4th quarter valued at approximately $65,000. 77.54% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Wells Fargo & Company boosted their price objective on shares of Mosaic from $34.00 to $35.00 and gave the stock an “equal weight” rating in a report on Friday, February 23rd. Mizuho reduced their price target on shares of Mosaic from $34.00 to $33.00 and set a “neutral” rating for the company in a research note on Friday. Piper Sandler downgraded shares of Mosaic from a “neutral” rating to an “underweight” rating and lowered their price objective for the company from $42.00 to $32.00 in a research report on Thursday, February 29th. The Goldman Sachs Group decreased their target price on shares of Mosaic from $54.00 to $48.00 and set a “buy” rating for the company in a research note on Thursday, February 1st. Finally, TheStreet downgraded Mosaic from a “b-” rating to a “c+” rating in a research note on Tuesday, February 6th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Mosaic presently has a consensus rating of “Hold” and an average target price of $40.20.

Mosaic Stock Performance

Shares of NYSE:MOS traded up $0.27 during mid-day trading on Friday, reaching $28.68. 5,228,977 shares of the company traded hands, compared to its average volume of 5,012,657. The company’s 50 day moving average price is $31.41 and its 200-day moving average price is $33.08. The firm has a market cap of $9.23 billion, a PE ratio of 12.20, a PEG ratio of 1.54 and a beta of 1.51. The Mosaic Company has a 52 week low of $27.83 and a 52 week high of $42.81. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.22 and a quick ratio of 0.57.

Mosaic (NYSE:MOS) last issued its quarterly earnings results on Wednesday, May 1st. The basic materials company reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.01). The firm had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.88 billion. Mosaic had a net margin of 6.07% and a return on equity of 8.19%. Mosaic’s revenue for the quarter was down 25.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.14 EPS. On average, equities analysts expect that The Mosaic Company will post 2.78 EPS for the current fiscal year.

Mosaic Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, June 6th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $0.84 dividend on an annualized basis and a yield of 2.93%. Mosaic’s payout ratio is presently 35.74%.

Mosaic Company Profile

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.