Zacks Investment Research downgraded shares of Mosaic (NYSE:MOS) from a buy rating to a hold rating in a research note released on Thursday.
According to Zacks, “Mosaic has outperformed the industry it belongs to over a year. The company is well placed to gain from rising global demand for fertilizers. The Vale Fertilizantes acquisition is also expected to deliver significant synergies. Moreover, Mosaic is expected to benefit from cost-reduction action and capacity expansion. The company is also committed to returning capital to shareholders. However, Mosaic’s phosphate market is relatively tight. It also faces headwind from volatility in Brazilian real. Elevated debt level and higher expected interest expenses are other concerns.”
A number of other analysts have also recently commented on MOS. Citigroup raised Mosaic from a neutral rating to a buy rating and lifted their price target for the stock from $36.00 to $40.00 in a research report on Wednesday, October 10th. Morgan Stanley lifted their price objective on Mosaic from $33.00 to $36.00 and gave the company a hold rating in a research note on Thursday, October 18th. Stephens set a $45.00 price objective on Mosaic and gave the company a buy rating in a research note on Wednesday, November 7th. Credit Suisse Group set a $30.00 price objective on Mosaic and gave the company a sell rating in a research note on Wednesday, November 7th. Finally, Royal Bank of Canada set a $45.00 price objective on Mosaic and gave the company a buy rating in a research note on Wednesday, November 7th. Eleven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $35.93.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 21st. Investors of record on Thursday, March 7th will be paid a $0.025 dividend. The ex-dividend date of this dividend is Wednesday, March 6th. This represents a $0.10 annualized dividend and a dividend yield of 0.32%. Mosaic’s dividend payout ratio is presently 9.17%.
Several institutional investors have recently made changes to their positions in MOS. Boston Partners increased its stake in shares of Mosaic by 51.1% in the 4th quarter. Boston Partners now owns 14,243,641 shares of the basic materials company’s stock valued at $416,057,000 after purchasing an additional 4,814,199 shares in the last quarter. Oregon Public Employees Retirement Fund increased its stake in shares of Mosaic by 3,480.9% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 4,688,263 shares of the basic materials company’s stock valued at $161,000 after purchasing an additional 4,557,338 shares in the last quarter. FMR LLC increased its stake in shares of Mosaic by 52.6% in the 2nd quarter. FMR LLC now owns 11,831,390 shares of the basic materials company’s stock valued at $331,871,000 after purchasing an additional 4,080,426 shares in the last quarter. Prudential Financial Inc. increased its stake in shares of Mosaic by 431.8% in the 4th quarter. Prudential Financial Inc. now owns 2,993,342 shares of the basic materials company’s stock valued at $87,435,000 after purchasing an additional 2,430,496 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Mosaic by 49.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 7,254,320 shares of the basic materials company’s stock valued at $235,621,000 after purchasing an additional 2,385,147 shares in the last quarter. Hedge funds and other institutional investors own 76.21% of the company’s stock.
Mosaic Company Profile
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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