Korea Investment CORP trimmed its holdings in shares of Mosaic Co (NYSE:MOS) by 74.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 35,072 shares of the basic materials company’s stock after selling 103,541 shares during the period. Korea Investment CORP’s holdings in Mosaic were worth $1,139,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Piedmont Investment Advisors LLC bought a new position in Mosaic in the 2nd quarter valued at about $115,000. Rehmann Capital Advisory Group raised its holdings in Mosaic by 12,038.5% in the 2nd quarter. Rehmann Capital Advisory Group now owns 4,734 shares of the basic materials company’s stock valued at $133,000 after acquiring an additional 4,695 shares during the period. Acadian Asset Management LLC bought a new position in Mosaic in the 2nd quarter valued at about $144,000. First Hawaiian Bank bought a new position in Mosaic in the 3rd quarter valued at about $175,000. Finally, Nations Financial Group Inc. IA ADV bought a new position in Mosaic in the 3rd quarter valued at about $201,000. Institutional investors own 75.65% of the company’s stock.
Several research analysts have weighed in on the stock. Royal Bank of Canada set a $45.00 price target on shares of Mosaic and gave the company a “buy” rating in a report on Wednesday, November 7th. Credit Suisse Group set a $30.00 price target on shares of Mosaic and gave the company a “sell” rating in a report on Wednesday, November 7th. Cowen increased their price target on shares of Mosaic from $38.00 to $43.00 and gave the company an “outperform” rating in a report on Thursday, November 15th. Stephens set a $45.00 price target on shares of Mosaic and gave the company a “buy” rating in a report on Wednesday, November 7th. Finally, TheStreet raised shares of Mosaic from a “c+” rating to a “b-” rating in a report on Monday, November 19th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $35.79.
Mosaic (NYSE:MOS) last announced its earnings results on Monday, November 5th. The basic materials company reported $0.75 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.11. Mosaic had a negative net margin of 0.80% and a positive return on equity of 6.17%. The firm had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.95 billion. During the same quarter in the prior year, the business posted $0.43 EPS. The business’s revenue was up 47.5% compared to the same quarter last year. Equities analysts expect that Mosaic Co will post 1.91 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 20th. Shareholders of record on Thursday, December 6th will be given a dividend of $0.025 per share. The ex-dividend date is Wednesday, December 5th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.29%. Mosaic’s payout ratio is presently 9.17%.
The Mosaic Company, through its subsidiaries, produces and markets concentrated phosphate and potash crop nutrients worldwide. The company operates through three segments: Phosphates, Potash, and International Distribution. 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.
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