Mosaic (NYSE:MOS) Given New $29.00 Price Target at Piper Sandler

Mosaic (NYSE:MOS) had its price objective cut by Piper Sandler from $32.00 to $29.00 in a report released on Tuesday, Benzinga reports. They currently have an underweight rating on the basic materials company’s stock.

MOS has been the subject of a number of other research reports. Wolfe Research started coverage on shares of Mosaic in a research report on Friday, March 1st. They issued an outperform rating and a $39.00 price objective for the company. Royal Bank of Canada dropped their price target on shares of Mosaic from $35.00 to $32.00 and set a sector perform rating for the company in a research report on Monday. Wells Fargo & Company upped their price target 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. Scotiabank cut their target price on Mosaic from $40.00 to $38.00 and set a sector outperform rating for the company in a research note on Monday. Finally, The Goldman Sachs Group dropped their target price on shares of Mosaic from $54.00 to $48.00 and set a buy rating for the company in a report on Thursday, February 1st. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Hold and an average price target of $38.57.

Mosaic Stock Performance

MOS opened at $29.89 on Tuesday. Mosaic has a 1 year low of $27.83 and a 1 year high of $42.81. The company has a current ratio of 1.16, a quick ratio of 0.51 and a debt-to-equity ratio of 0.26. The stock’s 50 day simple moving average is $31.33 and its 200-day simple moving average is $32.93. The stock has a market cap of $9.62 billion, a PE ratio of 12.72 and a beta of 1.51.

Mosaic (NYSE:MOS) last released its quarterly earnings results on Wednesday, May 1st. The basic materials company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.01). Mosaic had a net margin of 6.07% and a return on equity of 8.23%. The company had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.88 billion. During the same period last year, the company earned $1.14 earnings per share. Mosaic’s revenue for the quarter was down 25.7% compared to the same quarter last year. Sell-side analysts forecast that Mosaic will post 2.78 EPS for the current year.

Mosaic Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, June 6th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date is Thursday, June 6th. Mosaic’s payout ratio is 35.74%.

Institutional Investors Weigh In On Mosaic

A number of large investors have recently added to or reduced their stakes in MOS. Invesco Ltd. grew its holdings in shares of Mosaic by 3.2% in the third quarter. Invesco Ltd. now owns 8,792,687 shares of the basic materials company’s stock worth $313,020,000 after purchasing an additional 268,966 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Mosaic by 7.5% in the third quarter. Northern Trust Corp now owns 6,107,545 shares of the basic materials company’s stock worth $217,429,000 after buying an additional 424,063 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Mosaic by 5.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,969,039 shares of the basic materials company’s stock valued at $141,829,000 after purchasing an additional 189,706 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Mosaic by 5.1% during the 4th quarter. Pacer Advisors Inc. now owns 3,824,263 shares of the basic materials company’s stock valued at $136,641,000 after acquiring an additional 186,337 shares during the last quarter. Finally, Deutsche Bank AG grew its position in Mosaic by 3.6% in the 3rd quarter. Deutsche Bank AG now owns 3,062,975 shares of the basic materials company’s stock worth $109,042,000 after purchasing an additional 107,011 shares during the period. Hedge funds and other institutional investors own 77.54% of the company’s stock.

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.